Innovative Food Holdings to Enter Multi Billion Dollar Gourmet Food Consumer Market
May 06 2009 - 8:41AM
Marketwired
Innovative Food Holdings, Inc. (OTCBB: IVFH) announced today that
it is expanding its range of offerings and is entering the gourmet
food retail consumer market. The gourmet food consumer market is a
new market for Innovative Food Holdings as the majority of the
company's products were previously available only through
foodservice channels to professional chefs throughout the United
States. The company intends to offer its unique line of gourmet
products and full service white glove brand of customer service
both through the sale of products via selling partnerships, and
through the sale of products via the web directly to consumers
through its soon-to-be-launched website www.forthegourmet.com.
The CEO of Innovative Food Holdings, Inc., Mr. Sam Klepfish,
said, "After successfully selling gourmet food products to
discerning professional chefs for several years, we carefully
concluded that the much larger retail consumer market was one we
should be able to compete in very favorably."
Mr. Klepfish further noted, "We are pleased to enter the retail
consumer market. In addition, we believe that we currently occupy a
unique position within the gourmet food industry which could
potentially allow Innovative Food Holdings future sources of
revenue growth through the entrance into several lucrative
additional growth areas within the specialty food market. Given the
value that these revenue sources could potentially bring to the
company, we believe that creating separate operating companies to
operate each entity as a stand alone business could further unlock
value for our shareholders."
The company has created a wholly owned operating subsidiary
through which it will focus its direct-to-the-consumer business.
Innovative Food Holdings' "For the Gourmet" subsidiary is currently
operational and the company anticipates that it will provide
additional information on its activities in the near future.
Dylan Hundley of March Noble Communications commented, "We
believe that these developments with the company provide a perfect
jumping off point for our communications effort and believe the
market should react accordingly. This is a strong company with
wonderful growth potential and savvy management that should be paid
attention to."
According to a National Association of the Specialty Food Trade
report, the specialty food industry (of which gourmet food is a
growing part) generated $48 billion in sales at the retail level in
2008, an 8.4% increase over 2007. In addition, the size of the
specialty food sales on the retail level was four times larger then
the specialty food market for foodservice. According to the same
report, specialty foodservice sales in the United States totaled
$12 billion in 2008.
Innovative Food Holdings, Inc., through its wholly owned
subsidiaries, is in the business of marketing and selling high
quality gourmet food.
Food Innovations, Inc., in partnership with one of the largest
Foodservice distributors in the Unites States, provides the highest
quality gourmet food products to professional chefs throughout the
United States. To learn more, visit the Food Innovations website at
www.foodinno.com. Food Innovations is a wholly owned subsidiary of
Innovative Food Holdings, Inc.
For The Gourmet, Inc., through its soon-to-be-launched website,
and through additional sales channels, provides the highest quality
gourmet food products to the retail consumer market. To learn more,
visit the For The Gourmet website at www.forthegourmet.com. For The
Gourmet is a wholly owned subsidiary of Innovative Food Holdings,
Inc.
This release contains certain forward-looking statements and
information relating to Innovative Food Holdings, Inc. (the
"Company") that are based on the beliefs of the Company's
management, as well as assumptions made by, and information
currently available to, the Company. Such statements reflect the
current views of the Company with respect to future events and are
subject to certain assumptions, including those described in this
release. Should one or more of these underlying assumptions prove
incorrect, actual results may vary materially from those described
herein as should, could, anticipated, believed, intended,
potentially or expected. The Company does not intend to update
these forward-looking statements.
Media Contact: March Noble Communications Dylan Hundley (646)
435-4069 info@marchnoble.com Innovative Food Holdings, Inc. Sam
Klepfish (239) 449-3235 sklepfish@innovativefoodholdings.com
Innovative Food Holdings, Inc. IR@Innovativefoodholdings.com
Innovative Food (QB) (USOTC:IVFH)
Historical Stock Chart
From Mar 2024 to Apr 2024
Innovative Food (QB) (USOTC:IVFH)
Historical Stock Chart
From Apr 2023 to Apr 2024