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.
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SOURCE Vapor Corp.