Reborn Coffee Announces Five New Retail Locations Opening in Southern California

Rhea-AI Summary

Reborn Coffee (NASDAQ: REBN) announced plans to open five new retail locations in Southern California, expanding its footprint to fourteen stores. New locations include Cabazon, Huntington Beach, and Irvine in late 2022, with Mission Viejo opening in early 2023. These strategic placements focus on high-traffic shopping areas to enhance customer experience and loyalty. Supported by recent IPO capital, the company aims to increase sales and expand its market share while emphasizing innovation and quality in coffee offerings.

Positive

• Expansion to 14 total retail locations enhances market presence.
• New locations in high-traffic areas expected to drive customer traffic.
• Supported by IPO capital, the company can invest in growth.
• Focus on quality and customer experience may improve loyalty.

Negative

• Dependence on successful opening of new locations poses risks.
• Impact of COVID-19 on consumer traffic and costs remains uncertain.
• Economic conditions and inflation could affect profitability.

New Locations Opening in Cabazon, Huntington Beach, Irvine and Mission Viejo Will Bring Total Count to Fourteen

BREA, Calif., Oct. 11, 2022 (GLOBE NEWSWIRE) -- Reborn Coffee, Inc. (NASDAQ: REBN) (“Reborn” or the “Company”), a California-based retailer of specialty coffee, today announced its plans to open five new company-owned retail locations in Southern California, which, once opened, will bring its total count to fourteen.

Reborn’s new Cabazon store in Riverside County will be located at the Cabazon Outlet, a famous open-air outlet mall serving over 15 million shoppers each year. A new corner location in Huntington Beach at a fully renovated plaza will serve as an ideal grab-and-go location for the local community. In central Irvine, a new location will open in a commercial and residential mixed-use area to serve workers and residents. Also in Irvine, a new Reborn kiosk at Intersect Irvine, a unique campus-style office complex which integrates work and wellness, will serve tenants and the local community. In Mission Viejo, an in-line store will open at The Shops at Mission Viejo, an indoor mall featuring 150 stores and restaurants. The Cabazon, Huntington Beach and Irvine locations are expected to open in the fourth quarter of 2022, and the Mission Viejo location is expected to open in the first quarter of 2023.

“Supported by new capital from our recent IPO, we are rapidly expanding our retail footprint to 14 strategic locations to serve our high quality, specialty-roasted coffee in shopping plazas and upscale areas,” said Jay Kim, Chief Executive Officer of Reborn. “At each new location, our focus is on creating an inviting store atmosphere which is designed for comfort and convenience. We also strive to provide safe, clean, and well-maintained stores with a personal experience that reflects the communities in which we operate, helping to build a high degree of customer loyalty. These new locations will feature patios, contemporary design, and inviting atmospheres for socialization, study, and work.”

“Looking ahead, we are aggressively moving forward on our pipeline of new company-owned locations in California, as well as plans to expand outside of California. We are also highly focused on increasing sales and growing Average Unit Volumes at our existing stores. We believe our commitment to continued innovation in our products, sourcing directly from farms, and giving customers choices in how their coffee is served will build customer awareness, expand market share, and bring long term value to our stockholders,” concluded Kim.

About Reborn Coffee

Reborn Coffee, Inc. (NASDAQ: REBN) is focused on serving high quality, specialty-roasted coffee at retail locations, kiosks, and cafes. Reborn is an innovative company that strives for constant improvement in the coffee experience through exploration of new technology and premier service, guided by traditional brewing techniques. Reborn believes they differentiate themselves from other coffee roasters through innovative techniques, including sourcing, washing, roasting, and brewing their coffee beans with a balance of precision and craft. For more information, please visit www.reborncoffee.com.

Forward-Looking Statements

All statements in this release that are not based on historical fact are “forward-looking statements.” While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors section of our recently filed registration statement on Form S-1 and in the Management’s Discussion and Analysis of Financial Condition and Results of Operations section of our recently filed 10-Q, which can be found on the SEC’s website at www.sec.gov. Such risks, uncertainties, and other factors include, but are not limited to, the Company’s ability to successfully open the four additional Southern California locations described herein as planned or at all, the Company’s ability to expand its business both within and outside of California (including as it relates to increasing sales and growing Average Unit Volumes at our existing stores), the degree of customer loyalty to our stores and products, the impact of COVID-19 on consumer traffic and costs, the fluctuation of economic conditions, competition and inflation. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contacts

Investor Relations Contact:
Chris Tyson
Executive Vice President
MZ North America
REBN@mzgroup.us
949-491-8235

Company Contact:
Reborn Coffee, Inc.
ir@reborncoffee.com

FAQ

What is the significance of Reborn Coffee's new store openings?

Reborn Coffee's new store openings are significant as they expand its retail footprint to fourteen locations, enhancing visibility and customer access in high-traffic areas.

When are the new Reborn Coffee locations expected to open?

The new locations in Cabazon, Huntington Beach, and Irvine are expected to open in the fourth quarter of 2022, while the Mission Viejo location is set for early 2023.

How does Reborn Coffee plan to increase its sales?

Reborn Coffee plans to increase sales by opening new locations, growing Average Unit Volumes at existing stores, and enhancing customer loyalty through quality products and experiences.

What challenges does Reborn Coffee face with its expansion?

Reborn Coffee faces challenges such as the successful opening of new locations, the ongoing impact of COVID-19 on consumer behavior, and external economic factors like inflation.