GenTech Announces Successful Launch of Company Website and realizes Initial Customer Orders for New Subscription Specialty Coffee Service
NEW YORK, March 5, 2020 (GLOBE NEWSWIRE) — via OTC PR WIRE — GenTech Holdings, Inc. (OTCMKTS: GTEH) (“GenTech” or the “Company”), an emerging leader in the high-end CBD food and drinks marketplace, is excited to announce that the Company’s “Secret Javas” subscription coffee product launch on March 3 was successful and the Company has already begun to receive orders and book initial sales from new subscribers.
In addition, the secretjavas.com website is live and fully functional and has been rolled out across the entire domestic US market.
“The launch was successful and we have already begun to receive orders and book revenues,” noted David Lovatt, CEO of GenTech. “The website is now fully functional across all US state. In every respect, the launch has gone without a hitch and we anticipate a stronger-than-expected initial month based on the smooth process thus far and the early response we are seeing from customers.”
Management notes that the Secret Javas development and launch has been predicated on the Company’s strong knowledge capital and relationships in the specialty coffee marketplace as well as its identification of the strong opportunity available in the food and beverage subscription box market. According to Forbes, the subscription market for household goods grew by 890% between 2014 and 2018. Other credible analysis suggests that growth accelerated in the past two years and may continue to accelerate in the years to come, marking a clear secular trend that represents an evolution of consumer behavior as the logistical and technological factors involved in coordinating and delivering complex goods matures and consumer behavior evolves in response.
Despite this robust growth trend, the Company believes there remains room for a massive further expansion in the space. Only 7% of US households currently subscribe to a food or beverage product online leaving massive growth according to YouGov. Worldwide, the online foodstuff market, according to Statista, is running at 10% engagement by consumers willing to buy food and beverage products online. Revenue in e-Commerce segment‚ food and beverages alone, in the United States is expected to reach $15bn by 2021, rising from $9bn in 2016.
Lovatt continued, “The food and beverage subscription market is a phenomenon that represents one of the truly explosive and underexploited opportunities in the ecommerce market right now and over coming years. With the launch of Secret Javas, we feel we have positioned GenTech to become a leader in this trend for years to come.”
About GenTech Holdings, Inc.
GenTech Holdings, Inc. is a publicly traded company under the symbol GTEH. The company is creating a national chain of Hemp Centric Coffee Shop Retail Spaces where patrons can relax, drink CBD infused Teas and Coffees, try various own-brand products and experience holistic education and classes. The company is also building an extensive outreach program working with medical practitioners across the country in their own locations to educate their patients and increase awareness of the benefits of THC free CBD Products. All of this is offered under the brand ‘The Healthy Leaf’.
This press release may contain forward-looking statements, including information about management’s view of GenTech, Inc.’s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of GenTech, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on GenTech’s future results. The forward-looking statements included in this press release are made only as of the date hereof. GenTech cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, GenTech undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by GenTech.