HONG KONG, Feb. 25, 2016 /PRNewswire/ -- MWFC Global Ventures Hong Kong Limited "MWFC" in which two time NBA Champion Mike Miller, NBA All Star Kyrie Irving and basketball legend Shaquille O'Neal are partners, announced today a strategic distribution and licensing partnership for "L.I.F.E." beverage with China Distribution & Logistics Company Limited, an affiliate of Tibet 5100 Water Resources Ltd. "Tibet 5100", which is listed on the Hong Kong Stock Exchange, (Stock Code 1115).
L.I.F.E., whose acronym stands for Let It Fly Energy, a sparkling vitamin beverage that is a mental and physical energizer, in which MWFC holds the IP rights globally outside the United States, will be made available at 44,000 Sinopec and Petrol China gas station retail points starting March 2016. As part of the partnership agreement L.I.F.E. will be licensed to premium FMCG distributor China Distribution & Logistics Company Ltd. "CDL" for a perpetual term, with "in country" appearances from MWFC's vast portfolio of elite athletes; including Shaq and Kyrie.
L.I.F.E. founder and MWFC co-founding partner, Mike Miller, commented on the massive opportunity, "Business, like basketball, is about building a championship culture, and I was able to team up with LeBron and win a couple of championships. You need to find the right people to team up with. In China we have found those champions in CDL and Tibet 5100 Water."
CDL, an industry leader in fast moving consumer goods in Asia, having a vast Mainland China distribution network over 550 wholesalers strong has architected and scaled premium U.S. and European beverage brands to robust multiples over the last 20 years. CDL's vast distribution and warehousing network reaches every province in China providing the most coverage of any potential L.I.F.E. FMCG partner.
Shaquille O'Neal & Kyrie Irving will be featured on L.I.F.E. cans hitting China Sinopec retail shelves this March
As condition of the agreement, CDL, Ltd. has the option to invest an undisclosed sum in which they will be awarded shares in MWFC, whose acronym stands for Miller, Waters, Flaitz and Chan, the MWFC founding member's surnames.
China Distribution Limited's Chairman and CEO, Mr. George Chen expressed his excitement in the partnership "China Distribution & Logistics Co., Ltd. is delighted to have signed an exclusive and perpetual distribution and licensing/manufacturing agreement with MWFC regarding their proprietary energy drink under the name of L.I.F.E. (Let It Fly Energy). It is a product that fits well into our portfolio and dovetails with our network of retailers. Not only will we launch our product with the high end on premise channels, we are also well connected with large State-Owned-Enterprises." Chen expanded on the opportunity, "CDL is optimistic that L.I.F.E. will be welcomed at the thousands of gas stations and school districts throughout China. We also like the fact that L.I.F.E. is supported by one of the biggest sports star and international celebrity, Shaquille O'Neal, who is an owner. His endorsement and help in promotions of L.I.F.E. in China will bring a lot of publicity to the brand and to the right demographics. CDL looks forward to a very successful partnership in this venture with MWFC."
With a market cap approaching One Billion USD, premium positioned Tibet 5100 Water will become the exclusive water ingredient of L.I.F.E. as part of the newly minted agreement. Tibetan 5100 Water originates from deep, naturally rising underground glacial springs immersed in the Mountains of Tibet, one of the world's most remote, pristine and untraversed locations and then bottled in close proximity to their water source.
"When we look at CDL's reach inside China coupled with 5100's amazing success to date, this partnership should definitively accelerate L.I.F.E's growth in Asia, and MWFC's market value expeditiously." explains Christian Waters, Managing Director at MWFC. "With the NBA receiving such immense growth from China, L.I.F.E. will seek to mimic the trajectory the NBA is experiencing and bullishly projecting."
MWFC and L.I.F.E. will be capitalizing on a growing Chinese market where basketball viewership has never been higher. Participation and viewership in the sport is increasing across all ages, there is a consumer base that idolises both domestic and international players and teams. From a L.I.F.E. standpoint, entering into China with over 44,000 retail outlets by next month, is a huge ground breaking accomplishment -- especially for a product that was only launched in Hong Kong less than a year ago.
Both Shaquille and Kyrie have massive fan bases inside China that should instantly identify with their image on L.I.F.E. cans. In China, the NBA is the most watched professional sport, where they state basketball is played by roughly 300 million people across the country. The Cavaliers, Kyrie's team, specifically have one of the largest subscriber bases in the league on the Chinese microblogging platform Weibo with over 1.4 million followers.
Curt Flaitz, an MWFC founding partner expands on MWFC's strengths, "Our relationships in professional sports are un-paralleled on so many levels. Our elite ownership group's character and industry-wide respect allow us to forge relationships based on much deeper principles than a sponsorship check. Winners attract winners; we are excited to watch L.I.F.E. capitalize on basketballs popularity in China with CDL at the point".
MWFC will continue to identify US & European global beverage brands in which they will enter into their premium beverage portfolio earmarked for Asia markets and beyond.
About L.I.F.E.
L.I.F.E. by Mike Miller launched when he was a member of the NBA Champion Miami Heat. The USA energy drink formula was originated so that Miller and his NBA teammates could consume the beverages at practice and during games. The healthy formulas were geared towards athlete's specific needs during times of recuperation and high performance game situations. L.I.F.E. has entered into a global agreement with MWFC Global Ventures. Miller currently plays for the NBA's Denver Nuggets and is the NBA's 18th All Time Leader in 3 Point Field Goals and 22nd All Time in 3 Point Percentage. Miller was NBA Rookie Of The Year in the 2000-2001 season.
About MWFC Global Ventures Hong Kong Limited
MWFC was created by Mike Miller, Christian Waters, Curtis Flaitz, and Philippe Chan as the IP holding company for L.I.F.E. inside Asia, most recently executing a 3 year agreement for the beverage inside Hong Kong and Macau. Equally important MWFC was established as a uniquely robust entry point for Western Food & Beverage brands in which to lucratively launch into the Asia Pacific. MWFC will be looking for strong capital partnerships in which to further their strong portfolio of beverage brands with inside SE Asia and globally.
About China Distribution & Logistics Ltd.
("CDL"), one of the most well-known beverage distribution companies in China. The distribution and marketing team of CDL has extensive experience on the distribution, brand building and marketing of numerous premium international brands inside China for the past two decades, including; Heineken, Lipton, Samuel Adams and Pernod Ricard. CDL was also the sole sales agent of Evian in China. Its distribution network spans across 30 provinces and municipalities of the entire country covering hundreds of wholesalers and thousands of on premise and off-premise outlets.
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SOURCE MWFC Global Ventures Hong Kong Limited
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