CHANGSHA, China, June 24, 2020 /PRNewswire/ -- Urban Tea Inc. (the
"Company," "we" or "Urban Tea")
(NASDAQ: MYT), a premier retailer of specialty teas and baked goods
headquartered in Hunan, China,
announced today that the Company has made significant progress in
the renovation of its first overseas store in New York City. The store named "Meno" is
expected to have a trial opening on July
15th, 2020, and a grand opening in August,
assuming New York City will reopen
as currently scheduled.
The store is located at 218 Thompson Street, near Washington
Square Park and the New York University
campus in the Greenwich Village
neighborhood of lower Manhattan,
which is one of the city's most vibrant and popular neighborhoods.
The design of the store is expected to create a quintessential
hang-out spot for the customers to enjoy its specialty tea drinks.
As New York continues to reopen,
we have and will continue to closely follow state and city
guidelines in the renovation of Meno. We will open the tea house
with social distancing measures and other sanitary procedures in
place. Additionally, all staff will be screened for the coronavirus
before shifts, wear masks and gloves, as well as practice proper
handwashing and food safety protocols. The full menu will be served
with take-out and online order store pick up. Limited dine-in
service will be offered to customers.
Long Yi, Chief Executive Officer
of Urban Tea, commented: "We are
excited about our plan to open our first overseas store Meno in NYC
during the summer. This marks the first milestone in our
long-term overseas operation plan. Although Meno was initially
planned to be opened in early 2020, the evolving COVID-19 situation
has delayed our plans. Although opening a new store during a
pandemic is challenging and we understand that it may take some
time to ramp up the business during this time of uncertainty, our
team has been working tirelessly to make this happen and to
continue looking towards the future."
About Urban Tea,
Inc.
Urban Tea, Inc. is an emerging
specialty tea product distributer and retailer headquartered in
Changsha City, Hunan Province, China. Through its wholly owned subsidiary,
Mingyuntang (Shanghai) Tea Limited
which controls Hunan Ming Yun Tang Brand Management Co., Ltd. and
Hunan 39 Pu Tea Co., Ltd., the
Company currently market a wide range of trendy tea drinks, light
meals, and pastries targeting China's new urban generation in Hunan province. Our products are focused on
not only their taste but also their aesthetic presentation and
health benefits. Our products are currently being offered via our
own stores. For more information, please visit:
http://ir.h-n-myt.com/investor.
Forward-Looking Statements
This press release contains certain statements that may include
"forward-looking statements." All statements other than statements
of historical fact included herein are "forward-looking
statements." These forward-looking statements are often identified
by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involving known and unknown risks
and uncertainties. Although the Company believes that the
expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. You should not
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including development of the COVID-19 virus and the impact
it will have on the Company's operations and the other risk factors
discussed in the Company's periodic reports that are filed with the
Securities and Exchange Commission and available on the SEC's
website (http://www.sec.gov). All forward-looking statements
attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by these risk factors. Other
than as required under the applicable securities laws, the Company
does not assume a duty to update these forward-looking
statements.
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SOURCE Urban Tea Inc.