BUSINESS WIRE NEWS OUT ON HVAR !!!
Havana Republic Announces Grand Opening of Upscale Cigar Emporium in Ft. Lauderdale
Company Expansion Plans to Include Brand Name Franchises
FT LAUDERDALE FL--(BUSINESS WIRE)--June 19, 1998--The Havana Republic, Inc. today announced the kickoff of its much anticipated expansion program. Havana Republic will launch its roll-out strategy with the Grand Opening today of its second location, The Havana Republic Cigar Shoppe & Club Lounge, in the new upscale Las Olas Mall in Ft. Lauderdale, Florida.
The Company plans to open a third Havana Republic location in October at the Shops at Sunset, a fashionable DeBartolo project which features Niketown, IMAX Theaters, Barnes & Noble and a Spielberg Interactive Game Center.
Havana Republic projects annual sales of their premium signature hand-rolled cigars and cigar accessories will surpass $2.5 Million at each of the two new locations.
Havana Republic plans to use the new locations to create a marketing template for franchising the "Havana Republic" brand name nationally. Havana Republic has the financial strength (see most recent 10Q filed with the SEC) to take advantage of acquisition and joint venture opportunities which have been presented to the Company for expansion in the U.S., South America, and Europe.
Beyond adding more full scale retail outlets, the Company is developing a high-profit "impulse-buy" kiosk which will make its debut in Florida at the trendy Aventura Mall in August. Each low-cost kiosk is expected to generate annual revenues of approximately $1 Million.
In other business, Havana Republic is pleased to announce it has successfully structured its product supply line and will now be able to meet all of the Company's expanded inventory needs.
Further, Havana Republic announced they have retained the services of The Milan Capital Group, a New York based consulting firm specializing in growth management, capitalization, acquisitions and investor relations.
The Havana Republic, Inc. (OTC Bulletin Board: HVAR - news) is a fully reporting company with the SEC. As a purveyor of world-class cigars, The Havana Republic carefully selects the finest quality Cuban seed available, and transports it to Nicaragua where it is grown on the rich fertile hillsides. The Company's cigars are then hand-rolled and proudly branded with The Havana Republic Signature wrapper. The Havana Republic currently operates cigar emporiums in Florida, and is planning a roll-out of it's quality cigars to franchised stores and kiosks in upscale locations across the country.
This press release contains forward-looking statements which are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Expression of future goals and similar expressions reflecting something other than historical fact involve a number of risks and uncertainties, including timely development and market acceptance of certain products and services. The actual results the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. |
