LOS ANGELES, Nov. 8, 2012 (GLOBE NEWSWIRE) -- Drinks Americas Holdings, Ltd. ("Drinks Americas") (OTCQB:DKAM), a leading developer and marketer of premium beverage products including the popular KAH Tequila, announced today that its second fiscal quarter revenue increased 52.3% over the same period last year.
Drinks Americas attributes this growth to its expansion in the California market, with several new stores including CostPlus. The company also credits the uptick in sales to continued on-site promotions driven by Drinks Americas Brand Ambassadors, a team of salespeople dedicated to furthering brand visibility and distribution, plus strategies such as ramped-up social media efforts and daily specials.
"We have seen incredibly strong consumer interest in KAH Tequila and only see this trend continuing as we escalate our sales efforts and increase market penetration," says Steven Dallas, chief financial officer of Drinks Americas.
"We have a current market penetration of less than 2 percent, which leaves us lots of room to grow in the coming year," says Joe Belli, vice president of sales for Drinks Americas. "With results like those we have seen this last quarter, we are very optimistic and are working closely with our vendors and suppliers to prepare for the holiday season. We couldn't be more enthusiastic."
About Drinks Americas
Drinks Americas develops, owns, markets, and nationally distributes premium alcoholic beverages. In June 2011, the Company entered into a sales, distribution and licensing agreement with Worldwide Beverage Imports and is now selling and distributing KAH® Tequila, Agave 99® Tequila, Rio Bravo Beer, Crazy Pig Mexican Ale, Mexicali Beer and Chili Devil Beer. The Company also markets Willie Nelson's Old Whiskey River Bourbon, receives a royalty for Kid Rock's American Badass Beer and Damiana Mexican Liqueur and owns and distributes Rheingold Beer. For further information, visit www.facebook.com/KahTequila or www.drinksamericas.com.
Except for the historical information contained herein, the matters set forth in this release, including the description of the company and its product offerings, are forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the historical volatility and low trading volume of our stock, the risk and uncertainties inherent in the early stages of growth companies, the company's need to raise substantial additional capital to proceed with its business, risks associated with competitors, and other risks detailed from time to time in the company's most recent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.