Vapor Corp. a leading U.S. based distributor and retailer of vaporizers, e-liquids, e-cigarettes and e-hookahs, announced today that it has expanded its retail footprint by opening three additional locations of “The Vape Store” chain in Orlando, Fla., and acquired an existing store in Port Charlotte, Fla., that has been converted to a “The Vape Store.”
The addition of these four new stores follows the Company’s expansion strategy through “The Vape Store” retail chain, which was acquired through the recent merger with Vaporin, Inc. The Company’s retail strategy capitalizes on the growing market trend of customers who are purchasing vaporizer 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, shifting from c-store, food, drug and mass retail channels.
“The opening of these four new stores under ‘The Vape Store’ brand is just the beginning of our expansion strategy to establish a national retail footprint, making us one of the largest operators in the rapidly developing vape shop retail market. We are poised to open another 20 to 30 of our branded retail Vape Stores before the end of fiscal 2015,” said Jeff Holman, Chief Executive Officer of Vapor Corp. “The vape shop retail market is highly fragmented, providing our ‘The Vape Store’ brand with an opportunity to serve customers as the retailer that they can trust with the convenience of multiple locations to buy their favorite brands of vaporizers, e-liquids and accessories.”
The newly opened stores in Orlando and Port Charlotte are expected to contribute to sustainable, profitable growth for the Company, as evidenced by the encouraging operating margins of Vapor Corp.’s existing “The Vape Store” chain locations. As the Company continues to expand its retail presence, Vapor Corp. is well-positioned to further penetrate the growing $3.5 billion vaporizer market.
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” brand.