TAAT Now Sold in More than 2,000 U.S. Stores in 31 States TAAT(TM) Now Sold in More than 2,000 U.S. Stores in 31 States
LAS VEGAS and VANCOUVER, British Columbia, Jan. 11, 2022 (GLOBE NEWSWIRE) -- TAAT™ GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT™”) is pleased to announce that it has consolidated reports from its distributors and retail partners in the United States as of the end of calendar 2021, and has confirmed all three TAAT™ varieties (Original, Smooth, and Menthol) are now sold in at least 2,000 retail stores in 31 states. Under the executive leadership of Setti Coscarella, whose career in the tobacco industry included the commercialization of alternatives to tobacco cigarettes known as reduced-risk products (“RRPs”), the Company has curated a nationwide network of distributors while concurrently establishing a robust and scalable supply chain for manufacturing TAAT™ in commercial quantities, including in-house production of the Beyond Tobacco™ base material. TAAT™ plans to adapt the strategies it has utilized to attain its current U.S. retail presence in markets within Europe and Oceania, as it begins to undertake its next international launches following the initial store placements of TAAT™ in the United Kingdom as announced in the Company’s December 17, 2021 press release.
Throughout late 2021, TAAT™ announced new distributor relationships in California as well as multiple markets in the northeastern United States. Additionally, the Company has specifically focused on its relationships with “cash-and-carry” distributors; a key supplier channel for independent retailers in which inventory can be purchased on a wholesale basis in a self-service “warehouse” format that is similar to membership-based retail warehouses such as Costco. According to 2021 data from the National Association of Convenience Stores (“NACS”), over 92,000 of the 150,274 convenience stores in the United States are run by “single-store operators1”, and the Company believes the presence of TAAT™ in cash-and-carry warehouses has contributed to its ability to rapidly penetrate this segment of retailers. Furthermore, as cash-and-carry wholesalers require payment on a “cash” basis (i.e., no credit terms such as “Net 30” or “Net 60” are offered), distributing TAAT™ through this channel could simplify the Company’s dependencies with respect to cash flow from its receivable accounts on wholesale orders.