Vapor Corp. Opens Several New "The Vape Store" Retail Locations
New Stores Fuel Expansion into Orlando Market
DANIA BEACH, Fla., March 12, 2015 /PRNewswire/ -- Vapor Corp. (NASDAQ CM: VPCO; "Vapor"), a leading U.S. based distributor and retailer of vaporizers, e-liquids, e-cigarettes and e-hookahs, announced today that it has expanded its retail footprint by opening three additional locations of "The Vape Store" chain in Orlando, Fla., and acquired an existing store in Port Charlotte, Fla., that has been converted to a "The Vape Store."
The addition of these four new stores follows the Company's expansion strategy through "The Vape Store" retail chain, which was acquired through the recent merger with Vaporin, Inc. The Company's retail strategy capitalizes on the growing market trend of customers who are purchasing vaporizer products. In 2014, an estimated one-third of the $3.5 billion retail purchases in the U.S. were through the vape shop retail channel, shifting from c-store, food, drug and mass retail channels.
"The opening of these four new stores under 'The Vape Store' brand is just the beginning of our expansion strategy to establish a national retail footprint, making us one of the largest operators in the rapidly developing vape shop retail market. We are poised to open another 20 to 30 of our branded retail Vape Stores before the end of fiscal 2015," said Jeff Holman, Chief Executive Officer of Vapor Corp. "The vape shop retail market is highly fragmented, providing our 'The Vape Store' brand with an opportunity to serve customers as the retailer that they can trust with the convenience of multiple locations to buy their favorite brands of vaporizers, e-liquids and accessories."
The newly opened stores in Orlando and Port Charlotte are expected to contribute to sustainable, profitable growth for the Company, as evidenced by the encouraging operating margins of Vapor Corp.'s existing "The Vape Store" chain locations. As the Company continues to expand its retail presence, Vapor Corp. is well-positioned to further penetrate the growing $3.5 billion vaporizer market.
About Vapor Corp.
Vapor Corp., a NASDAQ company, is a U.S. based distributor and retailer of vaporizers, e-liquids and electronic cigarettes. It is presently the only vaporizer company listed on a major stock exchange (NASDAQ Symbol: VPCO) and 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 Krave®, VaporX®, Hookah Stix® and VaporinTM and are distributed to and available at approximately 50,000 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 contains certain forward-looking statements that are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended, including but not limited to those regarding the merger. Such statements are not historical facts and include expressions about management's confidence and strategies and management's expectations about new and existing programs and products, relationships, opportunities, taxation, technology and market conditions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Such forward-looking statements involve certain risks and uncertainties. Actual results may differ materially from such forward-looking statements. Factors that may cause actual results to differ from those contemplated by such forward-looking statements include, but are not limited to, the following: failure to enter into the third financing transactions in connection with the merger, reaction to the merger of Vapor's customers and employees; the diversion of management's time on issues relating to the merger; the inability to realize expected cost savings and synergies from the merger of Vapor with Vaporin in the amounts or in the timeframe anticipated; Vapor's operations and its ability to successfully execute its current business strategy changes in the estimate of non-recurring charges; costs or difficulties relating to integration matters might be greater than expected; the inability to retain Vapor's of Vaporin's customers and employees; or a decline in the economy, as well as the risk factors set forth in Vapor Form 10-K (and as supplemented by Item 1.A. in Vapor's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2014). These forward-looking statements are made as of the date of this press release, and Vapor assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.
SOURCE Vapor Corp.
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