Reed’s, Inc. Announces South Korean Distribution Agreement
Reed's, Inc. (NASDAQ: REED) (OTCBB: REEDP), maker of the top-selling sodas in natural food stores nationwide, announced today that it has reached a distribution agreement with a specialty distributor of gourmet foods and beverages based in Seoul, South Korea that will begin carrying a few Reed’s handcrafted ginger ales (Original Ginger Brew and Raspberry Ginger Brew), as well as Sonoma Sparklers, for direct store delivery.
“We are excited to enter the Asian market through a fast-growing distributor of upscale gourmet and natural premium branded foods and beverages to natural grocery markets, produce markets, and supermarkets in South Korea,” commented Chris Reed, Founder, Chairman and CEO of Reed’s, Inc. “This is a new and fascinating market for us as South Korean consumers are looking for premium products with natural and healthy ingredients such as are found in Reed’s and avoiding artificially flavored beverages. South Koreans are very sophisticated in terms of their tastes and quality. Our selection of unique, top selling natural sodas is a super fit for our distribution partner’s gourmet product line, and lets us enter one of the most exciting markets for natural beverages in the world.”
Neal Cohane, Reed’s Senior VP of Sales and Marketing, stated, “Reed’s has been exploring new markets outside of the U.S., and we are very excited about working with a Seoul-based gourmet food and beverage distribution partner, which represents a tremendous opportunity to grow our brand internationally. South Korea is one of the most sophisticated consumer markets anywhere, and one of the fastest growing emerging markets with substantial increases in trade liberalization and rapid economic development. The majority of the country’s food and beverages are imported, with overall imports to the country totaling $323.1 billion in 2009, and a rapidly growing market for organic products. This is an amazing opportunity for Reed’s all natural premium products.”
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