DANIA BEACH, Fla., April 2, 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, today announced its recent
organizational restructuring to further maintain the Company's
competitiveness and establish its branded products and retail
stores in an increasingly evolving e-cigarette and vaporizer
market.
In conjunction with the recent merger with Vaporin, Vapor Corp.
has taken a holistic approach to demonstrate the Company's
continued commitment to success, growth and innovation. To aid with
this process, Vapor Corp. has brought on several new members to its
revamped management team, including President and Director
Gregory Brauser, Chief Financial
Officer James Martin and new Board
Member Robert Swayman.
Additionally, in an effort to further establish its national
distribution network across the board, Vapor Corp. has developed
new supply deals with key retailers and reorganized inventory to
pave the way for vaporizers to support an increasing demand for
these products. Vapor Corp. has also opened three new "The Vape
Store" locations in Orlando and
one in Port Charlotte. Looking
ahead, the Company is poised to open an additional 20 to 30 branded
retail "The Vape Stores" before the end of fiscal 2015.
"With new management, new stores, new deals and new products,
Vapor Corp. is well-positioned to rise above the competition and
take a leadership role in what is currently a highly fragmented
e-cig and vaporizer market," said Gregory
Brauser, President and Director, Vapor Corp. "Vapor Corp.'s
merger with Vaporin served as a catalyst for the Company's future
success and has helped to pave the way for us to cast a wider net
in the industry. Our goal is to reach new and veteran vaping
consumers and continue to spread the word about our stores and our
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, accounting for a significant
shift from c-store, food, drug and mass retail channels. As a
result, Vapor Corp. is focused on leveraging "The Vape Store"
retail chain and continuing its efforts to supply more vaporizers
to meet the growing demand of the consumer market.
"Through streamlining operations and reorganizing our corporate
makeup, our goal is to usher in a new era of sustainable and
profitable growth," added Brauser. "'The Vape Stores' will be a
strong focus moving forward as the Company looks to provide new,
innovative and high-quality products to the burgeoning
marketplace."
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" and "emagine
vapor" brands.
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.