NEW YORK, Aug. 8, 2013 (GLOBE NEWSWIRE) -- Village Tea Distribution Company, Inc. announces that it has executed a multi-year licensing agreement with Verite Retail Group, LLC, a division of minority owned private equity firm, Verite Capital Partners, LLC, for the North American licensing rights to develop and operate Village Tea Company branded retail stores as well as the brand's new e-commerce platform. Village Tea Company Distribution, Inc. ("Village Tea") is the owner of the Village Tea Company brand of premium loose leaf teas and tea accessories which are currently sold in a variety of major retailers across North America.
Verite Retail Group (VRG), the retail operating arm of Verite Capital Partners, is managed by veteran retail industry executive, Don Jones, who along with his partner and investment banker, Lynda Davey, created Verite Capital Partners to focus on investment opportunities in the consumer products and retail sector. Mr. Jones is also a member of the Village Tea's Board of Directors and a trusted advisor to the Company. VRG will operate Village Tea Company's direct-to-consumer retail platform as, Village Tea Direct. Over the next 5+ years VRG plans to open and operate over 100+ retail stores in various formats as well as re-launch and manage the brands e-commerce platform to create a dynamic and robust direct to consumer experience to complement Village Tea's existing wholesale distribution strategy.
"Both Don and Lynda bring a wealth of retail industry experience, knowledge and resources to the table and we feel extremely honored that they have selected our brand to launch their new retail and consumer products operating division," stated Janon Costley, CEO of Village Tea. "In any licensing relationship the goal of a licensor is to find competent partners who have a proven ability to use their unique experience in a given area to create new revenue streams that would not have been otherwise realized by the licensor. In Verite Retail Group we know that we have selected partners who understand our brand, who share a like-minded vision and sensibility for the direction of our brand and who have the proven ability to properly articulate and execute the vision to give consumers the opportunity to participate in the Village Tea Company brand through a variety of unique retail environments."
Don Jones stated, "Village Tea Direct represents a unique opportunity for me to apply my 40+ years of retail industry experience to a new sector that is poised for tremendous growth over the next few years. Our goal is to introduce a fresh approach to 'Tea' retail, by introducing Village Tea's unexpected flavor combinations to the new 'urban' retail landscape by combining a raw, organic, communal design sensibility with a younger, hip look and feel to create an everyday escape for tea lovers."
With the recent $620 million Starbucks acquisition of Teavana and the ever increasing popularity of gourmet and boutique tea brands and retail outlets across the country, the Company feels that timing is right to launch the Village Tea Company direct-to-consumer platform. With the increased emphasis on health and wellness in the US market, the tea industry has seen exponential growth over the past 5 years so the company intends to continue to look for unique ways to develop Village Tea Company as a health and wellness lifestyle brand.
"With the recent announcements regarding our new relationships with DC Brands, Inc. (HRDN) and Premier Brands, Inc. (BRND), our immediate goal is to increase the sales footprint of our current product line through existing channels of distribution while we constantly seek to expand the footprint of the brand with new and exciting opportunities. We will continue to develop a platform that will properly position the company for exponential growth over the course of the next several years," stated President and founder of Village Tea, Martin Ekechukwu.
About Village Tea Company Distribution, Inc.
Village Tea Distribution Company, Inc. ( www.villageteaco.com ) sources high-quality, unique teas with distinct flavor combinations and packages them under its Village Tea Company brand name in a variety of creative and earth-friendly ways. The Village Tea Company brand is currently sold in many major retailers throughout North America.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above.
CONTACT: Village Tea Company email@example.com P. 877.221.0428
Source:Village Tea Company Distribution, Inc.