NEW YORK, March 3, 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 very pleased to announce the official launch of the Company’s “Secret Javas” premium coffee subscription package product.
“We are extremely pleased to announce that our flagship product offering is launching on schedule today with all key pieces in place and a capacity to service any conceivable scale of demand promptly and with a truly market-leading product and we will be bringing the site online in different markets throughout the day,” commented David Lovatt, CEO of GenTech. “We marshalled key resources, including suppliers, distributors, and a critical piece of the puzzle as a provisioning partner, and we can now report that we are ready to take orders and ship a product we are very proud to associate with our most ambitious branding ideals. I’m extremely proud of our team and very grateful to everyone involved for their hard work and determination in successfully delivering on this critical milestone.”
Management also announces that the overall structure of the package offering has been modified from the form presented in prior communications by the Company. These changes were made to better reflect market dynamics and to grant prospective customers are wider range of options in order to capture a wider segment of the overall coffee subscription market.
Customers can select from the following monthly delivery package options:
- Standard Coffee Package: 3 one-pound bags of Standard Coffee ($359.99/yr, 112.99/qr, $43.99/mo)
- Premium Coffee Package: 3 one-pound bags of Premium Coffee ($431.99/yr, $122.38/qr, $47.99/mo)
- Secret Javas Package: 3 one-pound bags of Secret Javas Coffee ($505.99/yr, $142.99/qr, $55.99/mo)
- The Mix Package: One pound of each – Standard, Premium, and Secret Javas ($449.99/yr, 127.99/qr, $49.99/mo)
Each package is available in either ground, whole-bean, or Nespresso™ Compatible Pod format. CBD-infused coffees may also be added to any order as part of the Company’s “Buy what you want when you want” option. In addition, the Company has added a Gift Subscription option to enable customer gifting of coffee products (either as full subscription or single bags) to loved ones.
The full website will also launch in different markets throughout the day at secretjavas.com.
Lovatt continued, “We firmly believe we have one of the highest quality product offerings in the subscription coffee space as of today. And we managed to coordinate a launch scenario almost completely devoid of balance sheet risk or frontloaded financial strain thanks to well-negotiated independent agreements with our suppliers and our provisioning partner. As cash flow picks up from new orders, we will be able to expand our marketing investment and gradually invest in the in-house capacity to handle all customer order flow. This will become increasingly important given the dramatic tailwind we see driving the subscription specialty food and beverage marketplace over the near and intermediate-term.”
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. But, inside of that, Payments News reports that the approximate revenue from those who subscribe to products using the Amazon platform, rose from $2.9bn in 2014 to 11bn in 2018 with a significant proportion of these purchases in the grocery and gourmet food section, a 260% jump over that period. The Company firmly believes this is just the tip of the iceberg in a massive structural trend that has yet to reach its peak in second-derivative terms.
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.
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