Reborn Coffee Closes Master License Agreement for UAE
Strategic Partnership Plans to Open 20-Plus Stores in the UAE, Including a Flagship Location in Jumeirah, Dubai
BREA, Calif., June 27, 2024 (GLOBE NEWSWIRE) -- Reborn Coffee Inc. (Nasdaq: REBN), ("Reborn", or the "Company"), a specialty coffee retailer based in California, announced today a master licensing deal that will facilitate Reborn Coffee's dynamic entry into the vibrant UAE market, with its first flagship location set to open in Dubai, UAE.
This partnership between Reborn Coffee and Reborn UAE, led by CEO Mahmood Arjomand, marks a significant step in expanding Reborn Coffee's footprint beyond its current boundaries. Under this licensing agreement, Reborn Coffee Licensor and Reborn UAE Licensee will collaborate to establish Reborn Coffee outlets, a distribution center for the Middle East, and roasting and warehouse facilities. The aim is to establish flagships store within one year, with Jumeirah, Dubai, as the first location. Additionally, the plan includes opening 20 more stores across the UAE to solidify Reborn Coffee's presence in the region.
Reborn UAE brings a wealth of local knowledge and expertise to this collaboration, providing an ideal foundation for Reborn Coffee's expansion efforts. This partnership aims to introduce Reborn Coffee's premium products to a broader audience and contribute to the region's thriving coffee culture. Reborn Coffee will bring specialty premium coffee technology to the Middle East, catering to the region's demand for high-quality coffee and the latest trends.
"We are truly honored to join forces with Reborn UAE in Dubai," said Jay Kim, CEO of Reborn Coffee. "Together, we aim to elevate the coffee experience in the UAE by delivering Reborn Coffee's exceptional quality, innovation, and sustainability.”
As part of this strategic alliance, Reborn Coffee and Reborn UAE are committed to fostering sustainable growth and ethical business practices in the UAE's coffee industry. The collaboration will emphasize responsible sourcing of coffee beans and environmentally friendly roasting processes, aligning with global sustainability trends.
The coffee culture in the UAE is rapidly evolving, with a growing appreciation for specialty coffee. The region's new coffee trend focuses on unique brewing techniques and high-quality beans, aligning perfectly with Reborn Coffee's offerings. This partnership represents a significant occasion for Reborn Coffee and Reborn UAE and a significant milestone in the UAE's coffee scene. As both parties embark on this exciting journey, they look forward to serving unique coffee experiences and contributing to the region's thriving café culture.
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 .
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 and Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our recent filings with the Securities and Exchange Commission (“SEC”) including our Form 10-Q for the first quarter of 2023, which can be found on the SEC’s website at . Such risks, uncertainties, and other factors include, but are not limited to, the Company’s ability to continue as a going concern as indicated in an explanatory paragraph in the Company’s independent registered public accounting firm’s audit report as a result of recurring net losses, among other things, the Company’s ability to successfully open the additional 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
949-491-8235
Company Contact:
Reborn Coffee, Inc.
