Asian Supermarket Chain iFresh Inc. Celebrates Grand Opening of Long Island’s First Location
January 22 2019 - 8:30AM
iFresh, Inc. ("iFresh" or "the Company") (NASDAQ: IFMK), a leading
Asian American grocery supermarket chain and online grocer,
announced their grand opening today for their first
supermarket located in Glen Cove, Long Island. The grand opening
celebrations started at 10am ET on Saturday, January 19th, 2019
with an official ribbon-cutting ceremony along with lion dance
performances. Mr. Long Deng, CEO of the Company, Mr. Harvey
Leibowitz independent Director and Chair of the Audit Committee,
and other distinguished guest including Mr. E. Cox, Chairman of the
New York Republican Party, Mr. James Pi and Mr. Gang Xie,
Vice-Chairman and Secretary General of U.S. Chinese Chamber of
Commerce, Mr. Huanguang Su, Chairman of Myanmar Chinese
Association of New York Inc, Ms. Victoria Sehneps, CEO of Queens
Courier, and Ms. Diane Jing, President of TCM Group Inc. attended
the celebration.
Located at 192 Glen Cove Road, Carle Place, the
22,859 square foot supermarket held a pre-opening on January 12 to
welcome Long Island residents. Nearby the Roosevelt Field Mall, the
supermarket is part of the community hub housing 20 Asian
restaurants. Recognized for offering quality food, competitive
prices, convenient locations, and seamless operation, iFresh is
aiming to bring customers an enhanced grocery shopping experience
through its in-store and online services.
The supermarket offers a diverse selection of
specialty Asian foods, snacks, beverages, and household items
featuring many locally sourced and seasonal products that meet our
high-quality standards. Shoppers will have access to fresh
vegetables, sustainably caught and responsibly farmed seafood from
the Company’s own farm, as well as freshly prepared grab-and-go
items. Additionally, with the collaboration of Rainbow Tang Inc., a
New York based food management company, iFresh will offer shoppers
convenient cooking services where Rainbow Tang will prepare meals
from fresh produce procured in-store.
“We are very excited to introduce Long Island’s
first iFresh Supermarket location to Nassau County’s vibrant
community in the heart of the booming shopping and activity hub,”
said Mr. Long Deng, Chief Executive Officer and Chairman of iFresh.
“Inspired by the blistering success of Hema, a chain of
supermarkets owned by e-commerce giant Alibaba Group, the
management team has decided to employ the “new retail” innovative
concept into our new store to offer customers the most convenience
and in-store experience in addition to the excellent quality of
products at low prices. We are still at the early stage of adapting
the new retail-driven supermarket model into what we have created
at iFresh, but we believe this will bring a great business
opportunity that emerges from online-offline integration to
increase the customer flow and attract new customers. The
management team expects this newly opened supermarket to achieve
$13-15 million in revenue for the fiscal year 2019,” concluded Mr.
Deng.
About iFresh, Inc.
iFresh Inc. (NASDAQ:IFMK), headquartered in Long
Island City, New York, is a leading Asian American grocery
supermarket chain and online grocer. With nine retail supermarkets
along the US eastern seaboard (with additional stores in Glen Cove,
Miami and Connecticut opening soon), and two in-house wholesale
businesses strategically located in cities with a highly
concentrated Asian population, iFresh aims to satisfy the
increasing demands of Asian Americans (whose purchasing power has
been growing rapidly) for fresh and culturally unique produce,
seafood and other groceries that are not found in mainstream
supermarkets. With an in-house proprietary delivery network, online
sales channel and strong relations with farms that produce Chinese
specialty vegetables and fruits, iFresh is able to offer fresh,
high-quality specialty produce at competitive prices to a growing
base of customers. For more information, please visit:
http://www.ifreshmarket.com/.
Forward-Looking Statement
This announcement contains forward-looking
statements. Forward-looking statements provide our current
expectations or forecasts of future events. Forward-looking
statements include statements about our expectations, beliefs,
plans, objectives, intentions, assumptions and other statements
that are not historical facts. Words or phrases such as
"anticipate," "believe," "continue," "estimate," "expect,"
"intend," "may," "ongoing," "plan," "potential," "predict,"
"project," "will" or similar words or phrases, or the negatives of
those words or phrases, may identify forward-looking statements,
but the absence of these words does not necessarily mean that a
statement is not forward-looking. Examples of forward-looking
statements in this announcement include, but are not limited to,
statements regarding our disclosure concerning the Company's
operations, cash flows, financial position and dividend policy.
For more information, please contact:
At the Company:
iFresh, Inc.
Email: ir@ifreshmarket.com
A photo accompanying this announcement is available
at: http://www.globenewswire.com/NewsRoom/AttachmentNg/a5c0d81f-6d78-403d-be78-569287000431
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