DANIA BEACH, Fla., Aug. 19, 2015 /PRNewswire/ -- Vapor Corp. (NASDAQ CM: VPCO, VPCOU) (the "Company"), a leading U.S.-based distributor and retailer of vaporizers, e-liquids, e-cigarettes and e-hookahs, announced today that the Company will open its 12th "The Vape Store" location, this time in Orlando, Fla., on Aug. 24, 2015.
This effort is in response to the growing consumer demand for vaping products across the country and in recognition of the shift in consumer preference to purchase these items in vape-dedicated stores. In 2015, an estimated one-third of the $3.5 billion retail purchases in the U.S. will be made through the vape shop retail channel, while just a short time ago, all brick and mortar sales were made through c-store, food, drug and mass retail channels.
"Up to this point, there have been few vaping stores in the area to accommodate the rising consumer demand for these products. This additional store in Orlando is our 12th in total and second newly redesigned location opening this month," said Jeff Holman, Vapor Corp. CEO. "Our goal is for both novice and experienced customers to feel at home as they try different vaping products and take in the store's experience. We plan to be the place to buy vaporizers, e-liquids and accessories, beginning in Florida and soon expanding to other states throughout the country."
The addition of this new 1,200-square-foot retail plaza store, located at 3120 S. Kirkman Rd., follows Vapor Corp.'s expansion strategy of "The Vape Store" retail chain. Customers over the local legal smoking age can create and sample personalized blends of e-liquids with expert mixologists, sample products in the store's vaping lounge and even participate in interactive vape "cloud competitions." The Company chose Orlando / MetroWest as a store destination due to the large existing vaping community and ability to replicate the success of its other stores surrounding the Orlando area.
Mr. Holman concluded, "The recent closing of our $41.4 million equity raise has allowed Vapor Corp. to execute our expansion plans quicker than ever before. Now that we are properly funded, our team can move forward at a rapid pace, opening new stores, as well as acquiring existing profitable stores, to ensure that we remain in a leadership position at the forefront of the store segment of the industry. Judicious and expedient execution of our retail store expansion strategy will help us to create a lasting national footprint for Vapor Corp. in 2016 and beyond."
About Vapor Corp.
Vapor Corp., a NASDAQ company, is a U.S. based distributor and retailer of vaporizers, e-liquids and electronic cigarettes. It recently acquired the retail store chain "The Vape Store" as part of a merger with Vaporin, Inc. The Company's innovative technology enables users to inhale nicotine vapor without smoke, tar, ash or carbon monoxide. Vapor Corp. has a streamlined supply chain, marketing strategies and wide distribution capabilities to deliver its products. The Company's brands include VaporX®, Krave®, Hookah Stix® and Vaporin™ and are distributed to retail stores throughout the U.S. and Canada. The Company sells direct to consumer via e-commerce and Company-owned brick-and-mortar retail locations operating under "The Vape Store" brand.
Safe Harbor Statement
This press release includes forward-looking statements including statements regarding creating a national footprint, expansion and continued success of the stores. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. The results anticipated by any or all of these forward-looking statements might not occur. Important factors that could cause actual results to differ from those in the forward-looking statements include a shift in consumer preferences and future federal and/or state regulation regarding vaporizers and tobacco alternatives. Further information on our risk factors is contained in our filings with the SEC, including the Prospectus dated July 23, 2015. We undertake no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.
SOURCE Vapor Corp.