iFresh Announces Grand Opening of New Location in North Miami
January 15 2020 - 8:30AM
iFresh, Inc. ("iFresh" or the “Company") (Nasdaq: IFMK), a leading
Asian American grocery supermarket chain and online grocer,
announced today that the Company’s 100% owned subsidiary New York
Mart North Miami Inc. (“NYM N. Miami”) is expected to soon open its
new location at 551 NE 167th Street in North Miami. The supermarket
is expected to have the grand opening ceremony will be held on
February 7, 2020.
Located in the heart of a densely populated metro area with a
large Asian demographic, the new 30,000 square foot supermarket has
undergone almost four years of construction and renovation to
accommodate a wide variety of commercial spaces. The new iFresh
location will be the largest supermarket in the area, offering a
diverse selection of specialty Asian foods, snacks, beverages, and
household goods. The supermarket will also feature a wide selection
of locally sourced and seasonal produce and goods. NYM N. Miami
plans to lease additional planned commercial space to to local
businesses, and thus far has leased a portion of the space to local
businesses including a spa, a Chinese tea store, and liquor stores.
With seven food vendors within the supermarket, we are hoping to
make the new iFresh location a staple to many shoppers in the area
with a large variety of offerings as well as a commitment to high
standards.
Mr. Long Deng, Chief Executive Officer and Chairman of iFresh,
commented: “I am excited to announce the grand opening of a new
iFresh location in North Miami. This is by far the largest
investment in one supermarket that we have made, with over USD 8
million invested in total. We are committed to creating a
multi-purpose destination to elevate the shopping experience for
our customers where shopping, dining, and leisure will be provided
with an array of quality choices.”
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 on the east coast of U.S. 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 Statements
Certain statements made herein are "forward-looking statements"
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"anticipate", "believe", "expect", "estimate", "plan", "outlook",
and "project" and other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. Such forward-looking statements include timing
of the proposed transactions; the business plans, objectives,
expectations and intentions of the parties once the transactions
are complete, and the Company’s estimated and future results of
operations, business strategies, competitive position, industry
environment and potential growth opportunities. These
forward-looking statements reflect the current analysis of existing
information and are subject to various risks and uncertainties. As
a result, caution must be exercised in relying on forward-looking
statements. Due to known and unknown risks, our actual results may
differ materially from our expectations or projections. All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these factors. All information provided in this press release is as
of the date hereof. Other than as required under the securities
laws, the Company does not assume a duty to update these
forward-looking statements.
Additional information concerning these and other factors that
may impact our expectations and projections can be found in our
periodic filings with the SEC. IFMK's SEC filings are available
publicly on the SEC's website at www.sec.gov. IFMK disclaims
any obligation to update the forward-looking statements, whether as
a result of new information, future events or otherwise.
For more information, please contact:At the Company:
iFresh, Inc.
Email: herinyin@newyorkmart.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/2693b971-e284-4b47-84ca-9992a0ca310d
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