Company Poised for Continued Growth as it Expands into First Overseas Market
KOLOA, Hawaii, July 16, 2015 /PRNewswire/ -- KonaRed Corporation ($KRED), manufacturer of Antioxidant Juices and nutritional supplements from the unique and exclusive Hawaiian CoffeeBerry® Brand coffee fruit from Kona, Hawaii, announced today that it will expand its market reach into Japan. This marks the Company's first overseas expansion and is a major step towards the dual goals of achieving revenue diversification along with global reach.
KonaRed has signed with Asplund Co., Ltd., granting the company non-exclusive distribution rights for KonaRed beverages throughout Japan. After years of development, KonaRed's Hawaiian CoffeeBerry® Brand coffee fruit has been approved for the Japanese market by Japan's health regulatory authority.
KonaRed® and CoffeeBerry® are registered trademarks in Japan. The Company's license partner, VDF FutureCeuticals Inc., owns the CoffeeBerry® trademark and holds issued patents in Japan for the technology to produce KonaRed's coffee fruit beverages.
KonaRed believes that the Japanese market, well known for early adoption of dietary supplements and natural nutraceuticals, offers significant potential. KonaRed CEO Shaun Roberts explains, "Hawaii and Japan share many close ties: there is a strong cultural connection, our cuisine here has a strong Japanese influence, and a significant portion of the population is of Japanese descent. Because of these factors, as well as the Japanese priority of living healthy lifestyles, we expect the Japanese market to embrace our products and flavor profile. We see our strategic expansion there as a powerful revenue generator. I'm proud of my team's very hard work to enter this new market. It is a natural fit for a Hawaiian company; we share much with our neighboring island to the west."
According to Research and Markets, the Asia-Pacific Vitamins (Nutraceuticals) market is estimated to grow at a Compound Annual Growth Rate (CAGR) of 7.0% from 2014 to 2019 due to increasing consumer concerns regarding health and nutrition. Japan is the largest vitamin (nutraceuticals) market in the Asia-Pacific region with a market share of 28.48%, followed by China.
KonaRed has distribution across the US and its beverages and supplements are available at select Kroger, Vitamin Shoppe, Whole Foods, Walmart, 7-Eleven, Ralphs, Fred Meyer and many other retail locations throughout the US and Canada. KonaRed products are sold in approximately 5,000 retail locations.
About KonaRed Corporation
KonaRed Corporation produces health and wellness nutritional products including beverages and nutritional supplements, which bring the attributes of Hawaiian coffee fruit to an international consumer market. The Company was established in August 2008 and achieved its first sales in February 2009. In October 2013, KonaRed went public and trades on the OTCQB under the symbol KRED. KonaRed, through a licensing agreement with VDF FutureCeuticals, Inc., utilizes innovative, state of the art, proprietary processes that produce antioxidant extracts and powders from Hawaiian coffee fruit. These processes are used to produce KonaRed's Antioxidant Juice, Green Tea, Coconut Water, On-the-Go Packs and 100% Coffee Fruit Powders. KonaRed Corporation is headquartered in Koloa, Hawaii, with a distribution center located in San Clemente, California. KonaRed products are sold in select Kroger, Vitamin Shoppe, Whole Foods, Safeway, Walmart and 7-Eleven stores, as well as in many other retail outlets throughout the US and Canada. More information about KonaRed and its products can be found at www.konared.com.
Forward Looking Statements
Certain information contained in this press release, including any information as to our strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, are forward-looking statements. The words "believe," "expect," "will," "anticipate," "contemplate," "target," "plan," "continue," "budget," "may," "intend," "estimate," "project" and similar expressions identify forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to its plans or operations. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation those set forth as "Risk Factors" in our filings with the SEC which can be found at www.sec.gov. There may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from those projected in any forward-looking statement. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
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