Home Bistro to Launch Subscription-based Offering for its Model Meals brand

Rhea-AI Summary

Home Bistro (OTC PINK:HBIS) has announced the launch of a subscription-based meal delivery service for its Model Meals brand, offering three meals per day for up to five days a week, targeting southern California.

This initiative is expected to enhance customer engagement and increase Lifetime Customer Value. CEO Zalmi Duchman expressed optimism about entering this segment, citing previous experience in building a $30 million meal delivery business. The rollout is anticipated by mid-year, marking a significant growth opportunity for the company.

Positive

• Launch of a subscription-based meal delivery service is poised to enhance customer loyalty.
• Targets southern California, a strong market for Model Meals with existing customer base.
• Potential for significant recurring revenue and improved Lifetime Customer Value.

Negative

• None.

MIAMI BEACH, FL / ACCESSWIRE / March 14, 2022 / Home Bistro, Inc. (OTC PINK:HBIS) ("Home Bistro" or the "Company") a leading online platform that offers celebrity chef-inspired, gourmet ready-made and lifestyle meals, today announced that it will launch a subscription-based offering for its Model Meals brand consisting of 3 meals per day (breakfast, lunch and dinner) for up to 5 days per week. The offering, expected to be launched by mid-year, will initially target the southern California market, where the Company maintains a food production and fulfillment facility and where Model Meals enjoys a strong customer base.

Home Bistro CEO, Zalmi Duchman stated, "We are excited about entering into the subscription-based meal delivery segment. Since founding and establishing a $30 million a year meal delivery business back in 2006, it was always part of my strategy to establish the same for our Company when the time was right. We believe with the Model Meals lifestyle brand the opportunity has arrived for establishing a sticky, recurring revenue model which provides ease of use of our customers, and a substantially increased Lifetime Customer Value."

About Home Bistro, Inc.

Home Bistro is a leading online platform, www.homebistro.com, that provides for the creation, production, and distribution of direct-to-consumer, heat-to-eat, celebrity chef inspired gourmet meals, which currently include inspirations developed by "Iron Chef" Cat Cora, "Hungry Fan" Chef Daina Falk, "Master Chef" Claudia Sandoval, "Top-Chef All-Star" Richard Blais and soon to launch celebrity chefs Ayesha Curry, Roblé Ali and ‍"Vegan + Sustainable Chef" Priyanka Naik.

Home Bistro's Model Meals lifestyle brand www.modelmeals.com is a Whole30 and Paleo approved, ready-to-eat, meal prep service, offering a weekly rotating menu that is prepared by professional chefs, using only the highest quality ingredients available, sourced responsibly and locally, and delivered in sustainable, eco-friendly packaging.

Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budgets", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. More particularly and without limitation, this news release contains forward-looking statements and information concerning the Company's growth objectives and industry outlook (as described herein). Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. These forward-looking statements include, among others, statements about the Company's future financial performance, the impact of management changes, any organizational restructuring and the sufficiency of capital resources to fund its ongoing operating requirements; statements about the Company's expectations regarding the capitalization, resources and ownership structure; and any other statements other than statements of historical fact. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that the Company makes due to a number of important factors, including (i) risks related to the combined entity's access to existing capital and fundraising prospects to fund its ongoing operations, and (ii) other business effects, including the effects of industry, market, economic, political or regulatory conditions, future exchange and interest rates, and changes in tax and other laws, regulations, rates and policies, including the impact of COVID-19 on the broader market. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company's periodic filings with the Securities and Exchange Commission, including the factors described in the sections entitled "Risk Factors", copies of which may be obtained from the SEC's website at www.sec.gov. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

Contact:
Zalmi Duchman, CEO
zalmi@homebistro.com
Ph: 631.694.1111

SOURCE: Home Bistro, Inc.

View source version on accesswire.com:
https://www.accesswire.com/692858/Home-Bistro-to-Launch-Subscription-based-Offering-for-its-Model-Meals-brand

FAQ

What is Home Bistro's new subscription service for Model Meals?

Home Bistro is launching a subscription service offering three meals a day for up to five days a week, targeting southern California.

When will Home Bistro's subscription service be available?

The subscription service is expected to launch by mid-year.

What market is Home Bistro focusing on for its new service?

Home Bistro is initially focusing on the southern California market for its Model Meals subscription service.

How does Home Bistro plan to increase customer value?

The subscription model aims to increase Lifetime Customer Value by providing a consistent meal delivery experience.

What is the stock symbol for Home Bistro?

The stock symbol for Home Bistro is HBIS.