DANIA BEACH, Fla., April 2, 2015 /PRNewswire/ — Vapor Corp. (VPCO) (“Vapor”), a leading U.S.-based distributor and retailer of vaporizers, e-liquids, e-cigarettes and e-hookahs, today announced its recent organizational restructuring to further maintain the Company’s competitiveness and establish its branded products and retail stores in an increasingly evolving e-cigarette and vaporizer market.
In conjunction with the recent merger with Vaporin, Vapor Corp. has taken a holistic approach to demonstrate the Company’s continued commitment to success, growth and innovation. To aid with this process, Vapor Corp. has brought on several new members to its revamped management team, including President and Director Gregory Brauser, Chief Financial Officer James Martin and new Board Member Robert Swayman.
Additionally, in an effort to further establish its national distribution network across the board, Vapor Corp. has developed new supply deals with key retailers and reorganized inventory to pave the way for vaporizers to support an increasing demand for these products. Vapor Corp. has also opened three new “The Vape Store” locations in Orlando and one in Port Charlotte. Looking ahead, the Company is poised to open an additional 20 to 30 branded retail “The Vape Stores” before the end of fiscal 2015.
“With new management, new stores, new deals and new products, Vapor Corp. is well-positioned to rise above the competition and take a leadership role in what is currently a highly fragmented e-cig and vaporizer market,” said Gregory Brauser, President and Director, Vapor Corp. “Vapor Corp.’s merger with Vaporin served as a catalyst for the Company’s future success and has helped to pave the way for us to cast a wider net in the industry. Our goal is to reach new and veteran vaping consumers and continue to spread the word about our stores and our products.”
In 2014, an estimated one-third of the $3.5 billion retail purchases in the U.S. were through the vape shop retail channel, accounting for a significant shift from c-store, food, drug and mass retail channels. As a result, Vapor Corp. is focused on leveraging “The Vape Store” retail chain and continuing its efforts to supply more vaporizers to meet the growing demand of the consumer market.
“Through streamlining operations and reorganizing our corporate makeup, our goal is to usher in a new era of sustainable and profitable growth,” added Brauser. “‘The Vape Stores’ will be a strong focus moving forward as the Company looks to provide new, innovative and high-quality products to the burgeoning marketplace.”
About Vapor Corp.
Vapor Corp., a NASDAQ company, is a U.S. based distributor and retailer of vaporizers, e-liquids and electronic cigarettes. It is presently the only vaporizer company listed on a major stock exchange (NASDAQ Symbol: VPCO) and recently acquired the retail store chain “The Vape Store” as part of a merger with Vaporin, Inc. The Company’s innovative technology enables users to inhale nicotine vapor without smoke, tar, ash or carbon monoxide. Vapor Corp. has a streamlined supply chain, marketing strategies and wide distribution capabilities to deliver its products. The Company’s brands include Krave®, VaporX®, Hookah Stix® and VaporinTM and are distributed to and available at approximately 50,000 retail stores throughout the U.S. and Canada. The Company sells direct to consumer via e-commerce and Company-owned brick-and-mortar retail locations operating under “The Vape Store” and “emagine vapor” brands.
Safe Harbor Statement
This press release contains certain forward-looking statements that are made pursuant to the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended, including but not limited to those regarding the merger. Such statements are not historical facts and include expressions about management’s confidence and strategies and management’s expectations about new and existing programs and products, relationships, opportunities, taxation, technology and market conditions. Words such as “expects,” “anticipates,” “plans,” “believes,” “scheduled,” “estimates” and variations of these words and similar expressions are intended to identify forward-looking statements. Such forward-looking statements involve certain risks and uncertainties. Actual results may differ materially from such forward-looking statements. Factors that may cause actual results to differ from those contemplated by such forward-looking statements include, but are not limited to, the following: failure to enter into the third financing transactions in connection with the merger, reaction to the merger of Vapor’s customers and employees; the diversion of management’s time on issues relating to the merger; the inability to realize expected cost savings and synergies from the merger of Vapor with Vaporin in the amounts or in the timeframe anticipated; Vapor’s operations and its ability to successfully execute its current business strategy changes in the estimate of non-recurring charges; costs or difficulties relating to integration matters might be greater than expected; the inability to retain Vapor’s of Vaporin’s customers and employees; or a decline in the economy, as well as the risk factors set forth in Vapor Form 10-K (and as supplemented by Item 1.A. in Vapor’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2014). These forward-looking statements are made as of the date of this press release, and Vapor assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.
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