Reborn Coffee Partners with COLLECTIVE to Expand Brand into Malaysia and Indonesia
20 January 2023 - 12:31AM
Reborn Coffee, Inc. (NASDAQ: REBN) (“Reborn”, or the “Company”), a
California-based retailer of specialty coffee
,
today announced it has signed a Memorandum of Understanding with
COLLECTIVE PROJECT SDN BHD (“COLLECTIVE”), an owner and operator of
a wholesale distribution network with various specialty cafes in
Malaysia, on January 15, 2023 to establish an equity joint venture
to expand and develop Reborn’s coffee brand throughout Southeast
Asia.
COLLECTIVE has been sourcing, roasting and
distributing specialty coffees for more than 7 years to cafes
throughout Malaysia, establishing itself as leading specialty
coffee roaster by sourcing transparent, traceable, and sustainable
coffees from farmers, and providing exceptional coffee experiences
to consumers. COLLECTIVE’s expansion plan includes long-term
partnerships with processing facilities and farms at origin, most
recently in Indonesia, that will ensure a consistent supply of
high-quality coffees and volume for the Southeast Asian market.
This partnership includes improving processing methods and
introducing innovations such as anaerobic and aerobic fermentation
to increase quality score and flavor.
In retail, COLLECTIVE is partnering with other
artisanal producers specifically in gelato and pastries to expand
their specialty product offerings. The company is opening its first
flagship store in Damansara Heights, an upscale suburb of Kuala
Lumpur, Malaysia, in February, with plans to open three additional
outlets in Kuala Lumpur and Jakarta later this year.
Barrie Nasim, Founder and CEO of COLLECTIVE, has
over 10 years’ experience in specialty coffee and distribution.
Educated at the London School of Coffee, he founded COLLECTIVE to
focus on educating, roasting and supplying quality coffees to
independent cafes and consumers. In its first year, he had expanded
his customer base to more than 50 cafes across Malaysia. Certified
by SCAE (Specialty Coffee Association of Europe) in Roasting and
Sensory science and a Q Arabica Grader by CQI (Coffee Quality
Institute), Barrie continues to work closely with practitioners on
industry developments in the sensory field.
“We have found an ideal partner with COLLECTIVE
and its founder Barrie Nasim to launch our brand into the Southeast
Asian market,” said Jay Kim, Chief Executive Officer of Reborn. “As
an increasing number of people in Southeast Asia advance into the
middle-class with higher spending powers, coffee culture and
consumption has skyrocketed. COLLECTIVE is at the forefront of a
new generation of consumers who are enthusiastic about specialty
and sustainable coffee.
“We will work together to bring the new Reborn
Coffee Malaysia Sdn Bhd, incorporated in Malaysia, to engage
high profile real estate agents and identify potential strategic
locations to open Reborn branded outlets in Singapore and Jakarta.
We have also identified profitable companies with synergy for
potential acquisition in Malaysia and Jakarta to contribute to
Reborn earnings. We believe with a strong partnership with
COLLECTIVE and the flagship store in Malaysia, Reborn’s growth and
expansion for the Southeast Asia market will be exponential. Taken
together with new locations in California, expansion into South
Korea and the upcoming launch of our e-commerce platform, we are
well-positioned to reach our goals for sustained operational
execution and year-over-year revenue growth,” 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, as amended, and
in the Management’s Discussion and Analysis of Financial Condition
and Results of Operations section of our recently filed Quarterly
Report on Form 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 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 TysonExecutive
Vice PresidentMZ North AmericaREBN@mzgroup.us 949-491-8235
Company Contact:Reborn Coffee,
Inc.ir@reborncoffee.com
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