Reborn Coffee Joins Forces with Sheikh Hamed of Abu Dhabi's Millennium Hotel for Licensing and UAE Expansion
Initial Store at Millennium Al Rawdha Hotel with 5-year Goal to Establish 10 Locations
BREA, Calif., Oct. 26, 2023 (GLOBE NEWSWIRE) -- Reborn Coffee, a brand renowned for its premium coffee experience, today announced a strategic partnership with Sheikh Hamed, the respected owner of Abu Dhabi's Millennium Hotel. This landmark collaboration is poised to pave the way for Reborn Coffee's dynamic entry into the vibrant UAE market, establishing its first retail location in Abu Dhabi, UAE.
The partnership between Reborn Coffee and Sheikh Hamed signifies a significant step towards expanding the brand's footprint beyond its current boundaries. Under this licensing agreement, both the Licensor, Reborn Coffee, and the Licensee, Sheikh Hamed, will work to establish Reborn Coffee Outlets, Roasting, and Warehouse facilities. The goal is to collaboratively establish a minimum of ten locations within a specified five-year timeframe, encompassing the acquisition or leasing of new locations, capital expenditures, and operational expenses.
Sheikh Hamed, a respected figure in Abu Dhabi, brings a wealth of local knowledge and expertise to this collaboration. His ownership of the prestigious Millennium Hotel provides the perfect location for Reborn Coffee's expansion efforts. This partnership will not only introduce Reborn Coffee's exceptional coffee products to a broader audience but also contribute to the thriving coffee culture in the region.
"We are truly honored to join forces with Sheikh Hamed and his Millennium Hotel in Abu Dhabi,” said Jay Kim, Chief Executive Officer of Reborn. “Together, we aim to elevate the coffee experience in the UAE by delivering Reborn Coffee's unparalleled quality, innovation, and sustainability.”
As part of this strategic alliance, Reborn Coffee and Sheikh Hamed are committed to fostering sustainable growth and ethical business practices in the UAE's coffee industry. The collaboration will emphasize the responsible sourcing of coffee beans and environmentally friendly roasting processes, aligning with global sustainability trends.
This partnership is not only a momentous occasion for Reborn Coffee and Sheikh Hamed but also a significant milestone in the UAE's coffee scene. As both parties embark on this exciting journey, they look forward to serving exceptional 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.
