TAAT(TM) Grows Northeastern U.S. Footprint with 350 Additional Stores in Virginia
LAS VEGAS and VANCOUVER, British Columbia, Dec. 03, 2021 (GLOBE NEWSWIRE) -- TAAT™ GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT™”) is pleased to announce that TAAT™ Original, Smooth, and Menthol will be sold in 350 retail stores in the state of Virginia (population 8.5 million1, with a 14% cigarette use rate among adults2) in addition to its existing stores in Richmond, VA. This placement was obtained through the Company’s relationship with a national convenience distributor, who has guaranteed a countertop placement of TAAT™ displays near point-of-sale stations in each store. After initially launching TAAT™ in Ohio in December 2020, the Company has added stores in other regions of the United States including markets near Ohio in the country’s northeastern region such as Michigan, West Virginia, and Pennsylvania, in which the established presence of TAAT™ appears to be a growth catalyst.
In approximately one year, TAAT™ has scaled its footprint from a single contained “test market” area of northern Ohio to a nationwide presence in over two dozen states, as well as U.S. territories to include Puerto Rico and Guam. The Company has leveraged existing demand for TAAT™ from smokers aged 21+ by proactively forming relationships with wholesalers who service common retailers of tobacco products such as liquor and convenience stores. As distributors of TAAT™ continue to receive repeat orders from their accounts, the Company has undertaken strategic regional efforts to capitalize on growing momentum. Following the addition of these 350 new stores in Virginia, the Company is seeking to further expand its base of retailers on the east coast of the United States, complementing its strong existing presence in the state of Georgia.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6be1b6fc-57de-4779-9ba6-53871210ae4d
The Company has shipped 350 pre-filled TAAT™ displays containing all three varieties of “Original”, “Smooth”, and “Menthol” for placements in 350 new retail points of sale in the U.S. state of Virginia, where TAAT™ already has a presence in the city of Richmond
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TAAT™ Chief Executive Officer Setti Coscarella commented, “Now that we have had the opportunity to benefit from observations made during our launches of TAAT™ in several markets across the United States, we have managed to reduce our lead times with respect to coordinating and executing launches with new distributors. TAAT™ has been sold in Ohio for nearly one year, which has enabled us to passively build our footprint in nearby states through organic growth. Although TAAT™ is already sold in Virginia, one of our national wholesale partners was able to line up 350 additional retailers, with whom we are also guaranteed a ‘prime’ countertop placement of TAAT™ displays in all stores; a tactic that has already proven quite effective in capturing the attention of smokers aged 21+ at the point of sale. We look forward to seeing how TAAT™ performs in these new stores, representing our latest launch in the northeastern United States.”