GenTech
Announces Successful Launch
of Company Website and realizes
Initial Customer Orders for New
Subscription Specialty Coffee
Service
NEW YORK, NY --
March 5, 2020 -- InvestorsHub NewsWire -- GenTech Holdings, Inc. (OTC
PINK:
GTEH) ("GenTech" or the "Company"), an
emerging leader in the high-end CBD food and drinks
marketplace, is excited to announce that the Company's "Secret
Javas" subscription coffee product launch on March 3 was successful and
the Company has already begun to receive orders and book initial
sales from new subscribers.
In addition, the
secretjavas.com website is live and fully
functional and has been rolled out across the entire domestic US
market.
"The launch was successful and
we have already begun to receive orders and book revenues," noted
David Lovatt, CEO of GenTech. "The website is
now
fully functional
across all US state. In every respect, the launch
has gone without a hitch and we anticipate a stronger-than-expected
initial month based on the smooth process thus far and the
early response we
are seeing from customers."
Management notes that the
Secret Javas development and launch has been predicated on the
Company's strong knowledge capital and relationships in the
specialty coffee marketplace as well as its identification of the
strong opportunity available in the food and beverage subscription
box market. According to
Forbes,
the subscription
market
for household
goods grew by 890% between 2014 and 2018.
Other credible analysis suggests that growth accelerated in the
past two years and may continue to accelerate in the years to come,
marking a clear secular trend that represents an evolution of
consumer behavior as the logistical and technological factors
involved in coordinating and delivering complex goods matures and
consumer behavior evolves in response.
Despite this robust growth
trend, the Company believes there remains room for a massive
further expansion in the space. Only 7% of US households
currently subscribe to a food or beverage product online leaving
massive growth according to YouGov. Worldwide, the online foodstuff
market, according to Statista, is running at 10% engagement by
consumers willing to buy food and beverage products online. Revenue
in e-Commerce segment‚ food and beverages alone, in the United
States is expected to reach $15bn by 2021, rising from $9bn in
2016.
Lovatt continued,
"The food
and beverage subscription market is a phenomenon that
represents one of
the truly explosive and underexploited opportunities in the
ecommerce market right now and over coming years.
With the launch of
Secret Javas, we feel we have positioned GenTech to become a leader
in this trend for years to come."
About
GenTech Holdings, Inc.
GenTech Holdings, Inc. is a publicly
traded company under the symbol
GTEH. The company is creating a national chain of Hemp Centric
Coffee Shop Retail Spaces where patrons can relax, drink CBD
infused Teas and Coffees, try various own-brand products and
experience holistic education and classes. The company
is also building an extensive outreach program working with medical
practitioners across the country in their own locations to educate
their patients and increase awareness of the benefits of THC free
CBD Products. All of this is offered under the brand 'The Healthy
Leaf'.
Forward-Looking Statements
This press release
may contain forward-looking statements, including information about
management's view of GenTech, Inc.'s future expectations,
plans and prospects. In particular, when used in the preceding
discussion, the words "believes," "expects," "intends," "plans,"
"anticipates," or "may," and similar conditional expressions are
intended to identify forward-looking statements. Any statements
made in this news release other than those of historical fact,
about an action, event or development, are forward-looking
statements. These statements involve known and unknown risks,
uncertainties and other factors, which may cause the results
of GenTech, its subsidiaries and concepts
to be materially different than those expressed or implied in such
statements. Unknown or unpredictable factors also could have
material adverse effects on GenTech's future results. The
forward-looking statements included in this press release are made
only as of the date hereof. GenTech cannot guarantee future
results, levels of activity, performance or achievements.
Accordingly, you should not place undue reliance on these
forward-looking statements. Finally, GenTech undertakes no obligation to
update these statements after the date of this release, except as
required by law, and also takes no obligation to update or correct
information prepared by third parties that are not paid for
by GenTech.
Corporate
Contact:
invest@gentech.group
www.gentechholdings.com