Sibannac, Inc. Breaks into Retail with Kava and Kratom Loung Scottsdale, Arizona--(Newsfile Corp. - July 20, 2023) - Sibannac, Inc. (OTC Pink: SNNC), a Nevada corporation (the "Company"), announced the following:
Sibannac, Inc. is proud to announce its entre into the retail marketplace, opening its first Kava/Kratom bar in the heart of downtown Scottsdale. Adjacent to Scottsdale's bustling Old Town district, this novel bar concept is set to open by the end of summer. A name for the location will be announced prior to launch. The Company has partnered with an operator who is fully funding the buildout and startup costs. Sibannac has maintained a lease on the premises, awaiting to open through the pandemic.
The bar will feature Kava and Kratom tea beverages, made at Sibannac's manufacturing facility, mere minutes from the retail location. Customers will be able to purchase pre-made beverages containing varying doses of these marvelous healing plants. In addition, the Company will be offering complaint hemp-derived cannabis products in gummies and other edibles, including edibles containing legal psychedelic options, like the Mushroom variant, Amanita Muscaria.
Kratom is a tropical evergreen tree native to Southeast Asia, primarily found in countries like Thailand, Indonesia, and Malaysia. The leaves of the kratom tree have been used for centuries for their stimulant and sedative properties. Kratom products, derived from these leaves, have gained popularity in recent years for their potential to alleviate pain, boost energy, and enhance mood.
Kratom is already a $1.3 billion industry in the U.S., with sales occurring online and in smoke shops, according to the American Kratom Association. An estimated over 2 million Americans are already using Kratom and Sibannac is looking to take it out of the smoke shop and into high-end retail, in an upscale and warm environment. Factors such as growing awareness and a rising preference for natural alternatives, contribute to the positive growth projections for the kratom market.
Kava, a beverage made from the roots of the Piper Methysticum plant, has been gaining popularity in the United States in recent years. Known for its calming and relaxing effects, like kratom, kava has become a popular alternative to traditional tea and coffee. As a result, tea lounges specializing in kava and kratom have emerged across the country, offering a unique social and cultural experience. These tea lounges provide a welcoming atmosphere for customers to enjoy concoctions in various forms, such as traditional brews or innovative infused beverages. The rise of kava tea lounges reflects the growing demand for natural and non-alcoholic social spaces, where people can unwind, connect with others, and explore alternative beverages. These establishments serve as hubs for kava and kratom enthusiasts, promoting awareness and appreciation of these ancient beverages while fostering a sense of community among patrons.
Utilizing our extensive manufacturing experience, a retail location provides an excellent opportunity to directly engage with our consumers. By establishing a physical presence, we can create a unique and immersive environment where customers can interact with our products and experience their quality firsthand. This retail space allows us to showcase our expertise, educate consumers about our manufacturing processes, and provide personalized assistance to address their specific needs.
The ambience of a retail location plays a crucial role in creating an environment where customers feel welcome and safe. A well-thought-out ambience sets the tone for the entire experience, influencing customers' emotions, behaviors, and perceptions. A welcoming and safe ambience fosters a sense of comfort, encouraging customers to spend more time in the space. Additionally, it enables us to gather valuable feedback from customers, which can inform our future product development and refine our manufacturing practices. By bridging the gap between production and consumption through a retail location, we can strengthen customer relationships, enhance brand loyalty, and stay attuned to evolving market trends.
A closely watched World Health Organization panel recently decided that kratom didn't warrant a "critical review," which could have led to UN restrictions and a federal ban. The panel found that while the substance can be toxic in very high doses, it is difficult to link kratom to overdose deaths with much certainty. In fact, many states are passing what is termed the "Kratom Consumer Protection Act (KCPA)", a legal framework being adopted across the country, approving the sale of kratom products, while maintaining age restrictions and accurate descriptions of product contents. Sibannac's home state of Arizona has passed the KCPA.
"Sibannac is going to make a huge splash in the kava/kratom bar market. Not only do we source and produce many of our products in-house, we are now vertically integrating our operations by entering the bar and lounge space. We will expand the market for kava and kratom by creating a high-end experience that appeals to a mature and sophisticated audience as well as long-term pain patients seeking a natural alternative to prescription drugs. Sibannac will be evaluating expansion opportunities after establishing metrics in Scottsdale. We'll be looking at franchising as well as opening locations in Canada," said David Mersky, CEO of Sibannac.
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