Entry into United States, Philippines, Singapore and Other strategic markets expected in the short term
VANCOUVER, British Columbia, May 25, 2021 / CNW / – Just Kitchen Holdings Corp. (“JustKitchen“or the”Company“) (TSXV: JK) (Frankfurt: 68Z), a ghost kitchen operator specializing in the development of food brands delivered only to its customers, is pleased to announce its international expansion plan (the “Expansion Plan”) for the next two years. Following the company’s recently announced growth to 15 locations in Taiwan and its entry into Hong Kong, the expansion plan foresees the growth of JustKitchen in new markets, in particular United States, Philippines and Singapore in 2021. The following year, JustKitchen targets the potential launch of ghost kitchen locations in Canada and other areas of Asia Pacific region, including Japan, Malaysia, South Korea and Vietnam. The expansion plan envisions growth organically, through joint ventures with third parties, as well as other potential agreements.
For the rest of this year, JustKitchen is working to enter United States with a focus on key cities on the west coast. The company’s strategy should combine the deployment of internal and partner brands, with its proprietary technology and operational expertise, all tailored to leverage local suppliers, through established supply chains, to customers with known demographics. In The Philippines, JustKitchen’s approach should be more like its hub-and-spoke operating model. Taiwanbecause the cost structure and population density of the country are similar. For Singapore, the company’s entry should reflect its approach Hong Kong for the same reasons related to cost and density.
In 2022, JustKitchen has set itself the goal of establishing operations in Canada and other areas of Asia Pacific region, including Japan, Malaysia, South Korea and Vietnam. Japan and Vietnam are countries with distinct and world-renowned cuisines which should provide the company with the opportunity to develop an even stronger offering of house food brands and associated menus. Malaysia is a market with natural culinary ties Singapore, while South Korea Unique culture and large population should also present JustKitchen with other strategic opportunities. With the help of some key advisors and based on preliminary discussions with third parties, JustKitchen believes other countries other than those listed here may also consider its expansion plan later next year or through the after.
“JustKitchen’s roadmap for global growth is extremely exciting and is fueled by the growing viability of ghost kitchens coupled with demand for our food brand portfolio,” said Jason chen, Co-founder and CEO of JustKitchen. “As we quickly approach the milestone of fulfilling 100,000 food orders per month, the JustKitchen management team is confident in the company’s proven business model and is ready to execute the next parts of the plan. ‘expansion. United States, Philippines and Singapore will be great achievements in the short term and we will work hard this year and next to prove that the expansion plan can add significant value to the business, ”Chen added.
JustKitchen is first and foremost a ghost kitchen operator, specializing in the development and marketing of exclusive and franchised food brands for customers. The company currently operates in Taiwan and Hong Kong with plans to expand operations to United States and other Asian countries. JustKitchen uniquely utilizes a star-shaped model of operation, which includes advanced food preparation taking place in larger concentrated kitchens and final meal preparation taking place in smaller department kitchens located in higher density areas. population. The Company combines this operating model with online and mobile food orders made by third-party delivery companies, to minimize capital investments and operating expenses and reach more customers in underserved markets. The company’s other business, JustMarket, is an online grocery delivery platform that allows customers to purchase groceries for delivery or add selected groceries to ordered meals. via JustKitchen.
For more information about the company, please visit investors.justkitchen.com. The final prospectus, financial statements and MD&A of JustKitchen, among other documents, are all available on the Company’s profile page on SEDAR at the following address: www.sedar.com.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of TSXV) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain “forward-looking statements” within the meaning of such statements under applicable securities laws. Forward-looking statements are often characterized by words such as “anticipates”, “plans”, “continues”, “expects”, “plans”, “intends”, “believes”, “anticipates”, “believes”. “,” May “,” will “,” potential “,” proposed “,” positioned “and other similar words, or statements that certain events or conditions” may “or” will occur “, including, but without limitation, the company’s ability to begin and maintain operations in United States, Philippines and Singapore in 2021; the company’s ability to start and maintain its activities by Indonesia, Thailand, Canada and other areas of Asia Pacific region, including Malaysia, Indonesia and South Korea in 2022; and the company’s ability to grow organically, through joint ventures and other arrangements. The risks associated with certain events or conditions occurring include, but are in no way limited to, the ability of the Company to comply with local regulations in force from time to time; the ability to find suitable local partners in certain jurisdictions; the ability to find suitable locations to set up operations; the risks associated with the COVID-19 pandemic; and potential changes in the company’s expansion plans, including the decision to cancel or postpone expansion in certain jurisdictions or the identification of new jurisdictions for expansion. These statements are only predictions. Various assumptions have been used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this press release. Forward-looking statements are based on the opinions and estimates of management as of the date they are made and are subject to various risks, including the risk factors identified in the Company’s prospectus dated March 26, 2021, and uncertainties and other factors that could cause actual events or results to differ materially from those projected in forward-looking statements. The Company has no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as expressly required. by applicable law.
SOURCE Just Kitchen Holdings Corp.
For further information: Just Kitchen Holdings Corp., Suite 1430, 800 West Pender Street, Vancouver, British Columbia, V6C 2V6; Nick Kuzyk, Investor Relations, Toll Free: 1-855-JST-KCHN (1-855-578-5246), Email: [email protected]