China Premium Food Corp. (OTCBB:CHPF) announced yesterday that the Company’s food products will be made available to consumers in Shanghai, China by Ego365.com, a home delivery service which features 3,000 items.
Ego365.com is owned by the Jie Qiang Group, the largest food distributor in China. Ego365.com’s Web site features 3,000 products for home delivery, most of which are food products. Ego365.com receives orders either online or through its call service center and has about 160,000 customers, with plans to reach 300,000 customers by year’s end. Ego365.com has one central warehouse and 14 district warehouses. Delivery is offered 24 hours a day and within 5 hours of the order to the customer’s home via three wheeled bicycles.
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By GlobalDataMr. Roy Warren, President and CEO of China Premium Food commented, “We are excited to have another distribution partner for our products. Ego365.com has an innovative business concept and model for the Shanghai market. We have been focusing our attention on building strong distribution channels for our Looney Tunes(TM) brands and high-quality products and this is an additional sales channel for us.”
China Premium currently distributes and sells Looney Tunes(TM) white and flavored milks and Looney Tunes(TM) crackers to consumers in Shanghai, China. China Premium recently introduced a full service B2B food portal through which the company will procure other high-quality food products for China and import through its trading company subsidiary located in the Wai Gao Qiao Free Trade Zone in Shanghai. As new products are imported into Shanghai by China Premium, Ego365.com will be an ongoing distribution channel for these products.
In addition, China Premium holds a 52% interest in the Hangzhou Meilijian Dairy in Hangzhou, China, the largest dairy in this urban area of 6 million people. The company is importing into China private-labeled snack crackers manufactured by Lance, Inc. (Nasdaq:LNCE – news), which are branded with the Looney Tunes(TM) brand and characters, and sells Looney Tunes(TM) flavored milks in Shanghai and Hangzhou, China under a Master License with Warner Bros. The Looney Tunes(TM) milk is being distributed by Jie Qiang and should be available in all Jie Qiang’s 1,674 affiliated stores by the end of the year.
China Premium additionally has a U.S.-based subsidiary, Bravo! Foods. Bravo! Foods holds a license from Warner Bros. to utilize the Looney Tunes(TM) characters and names on milk products throughout the fifty U.S. states, Puerto Rico and the U.S. Virgin Islands. Through Bravo!’s agreement with Quality Chekd, a national dairy co-op with over 40 member dairies, a national rollout of Looney Tunes(TM)branded, flavored milks is underway.
For more information, visit www.chinapremiumfood.com.
Looney Tunes, characters, names and all related indicia are trademarks of Warner Bros., (c)2000.
Safe Harbor under the Private Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company’s filings with the Securities and Exchange Commission.
