BREA, Calif., June 11, 2024 (GLOBE NEWSWIRE) — Reborn Coffee Inc. (Nasdaq: REBN), a prominent California-based purveyor of specialty coffee, has divulged its comprehensive strategy for launching its inaugural flagship store in the Historic Art Museum Building situated in Guangzhou, China. Following the successful finalization of a master franchise agreement in Guangdong Province, the company is poised to establish its premier outlet, complete with a roasting facility and training center, in the culturally enriched environs of the Li Weiguang Art Museum on Shamian Island. The grand inauguration of this landmark locale is slated for the third quarter of 2024.
Situated within the vibrant cityscape of Guangzhou, a Tier 1 metropolis celebrated for its robust economy and elevated quality of life, the store’s prime location on the first floor of the Li Weiguang Art Museum capitalizes on the area’s bustling pedestrian flow and rich cultural heritage. This strategic positioning presents an ideal opportunity for Reborn Coffee to introduce its distinctive offerings to China’s discerning aficionados of coffee culture.
China, as part of its urban classification system, designates cities into five tiers based on economic development and population density. Among these tiers, Guangzhou, alongside Beijing, Shanghai, and Shenzhen, forms the core of the “Beishangguangshen” megalopolis, distinguished as the most economically advanced urban agglomeration in China. With populations exceeding 10 million and GDPs surpassing 1 trillion yuan, these cities serve as pivotal engines of economic growth. Reborn Coffee’s establishment in Guangzhou strategically positions the company within this thriving economic milieu, particularly as the museum commemorates its centennial anniversary this year, infusing historical allure into the modern coffee experience offered by Reborn.
Harnessing the dynamic backdrop of Guangzhou as a catalyst for expansion across China, Reborn Coffee sets its sights on over 70 new locations across established and emerging Tier 1 cities such as Chengdu, Hangzhou, and Wuhan. Additionally, the company aims for significant penetration into Tier 2 and 3 cities, recognizing their burgeoning middle-class populations and escalating consumer purchasing power as lucrative market opportunities. Furthermore, Reborn Coffee endeavors to transform the second, third, and fourth floors of the museum into a comprehensive design center and a cutting-edge barista training facility with a premier roasting unit. Spearheaded by Henry Ho, CEO of IAID Co., Ltd., this initiative underscores the innovative and culturally immersive approach adopted by Reborn Coffee in expanding its footprint across Asia.
“Reborn Coffee is embarking on an aggressive expansion trajectory in China,” affirmed Jay Kim, CEO of Reborn Coffee Inc. “Building upon the success of our flagship store, we envision the establishment of over 70 locations across Guangdong Province. Our objective extends beyond mere expansion; we aspire to become integral contributors to the local community, enriching the coffee culture and bolstering our global presence. Committed to a long-term vision that harmonizes with our strategic imperatives and investor expectations, we are poised for sustained growth.”
Mr. Kim continued, “Moreover, our expansion endeavors transcend China’s borders. Reborn Coffee’s strategic roadmap encompasses broader international outreach, commencing with additional markets in Asia. Through the establishment of master franchise agreements in Singapore, Thailand, Vietnam, and Indonesia, handpicked for their vibrant coffee cultures and rapid market expansion, we aim to not only amplify our global footprint but also cater to the burgeoning demand for premium coffee experiences in Asia, thereby fortifying our international brand presence.”
In summary, Reborn Coffee’s foray into Guangzhou marks a pivotal juncture in its expansion saga, underscoring the company’s unwavering commitment to innovation, cultural integration, and strategic growth on the global stage.