TAAT(TM) Global Alternatives (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2)
- TAAT enters agreement for GGE to be exclusive distributor for flagship product in the United Kingdom and Ireland
- “It is an exciting development for us to have received our first purchase order for overseas shipment,” says CEO
- TAAT could realize competitive advantage based on relatively high retail cost of tobacco cigarettes in the UK and Ireland
has entered into a letter of intent with Green Global Earth Ltd. (“GGE”). The agreement calls for GGE to be the exclusive distributor for TAAT(TM)’s flagship product in the United Kingdom and Ireland. In addition, Green Global Earth placed a €100,000 purchase order for an initial supply of TAAT’s Original, Smooth and Menthol tobacco-free, nicotine-free alternative (https://ibn.fm/zazFp
“Expansion launches in the CPG category need to be conducted passively, so as to ensure the product is optimally positioned in its new markets,” said TAAT CEO Setti Coscarella. “Although we believe TAAT is generally relevant to those out of the more than one billion tobacco users worldwide who aspire to leave nicotine behind, entering a new region is a complex task based on the nuances of each market in economic and competitive terms, as well as the general attitudes towards alternatives to products such as tobacco cigarettes.
“We are pleased to have an accomplished and well-connected wholesaler such as GGE on our side,” he continued. “It is an exciting development for us to have received our first purchase order for overseas shipment as we seek to commercialize TAAT internationally for the first time.”
In the announcement, TAAT noted that it could realize a competitive advantage based on the relatively high retail cost of tobacco cigarettes in the UK and Ireland. The company noted that, based on data from the World Health Organization (“WHO”), the prices of the most-sold brand of cigarettes (pack of 20) in international dollars were $13.58 in the United Kingdom and $14.95 in Ireland, compared to $6.86 in the United States.
With a 14.1% tobacco use incidence rate among the United Kingdom’s legal-aged population and an incidence rate of approximately 20% among adults in Ireland, TAAT sees exciting opportunities in these markets.The cost advantage combined with the incidence rate of smokers, many whom are eagerly seeking for a nicotine-free, tobacco-free alternative, place the company — and its game-changing product — in a strong position.
Based on the distribution agreement between TAAT and GGE, the TAAT smoking alternative will be available through GGE’s existing wholesale network. Targeting adult-aged smokers, the rollout of the new program will capitalize on the fact that TAAT’s Beyond Tobacco(TM) experience closely mimics every sensory element of smoking a tobacco cigarette. TAAT has captured the experience through packaging, scents, crackling sounds, a tobacco taste and even the motor habits, such as hand to mouth and flicking of ashes. The success of TAAT seems to prove that smokers aren’t just reaching for cigarettes for the nicotine; rather, many enjoy the smoking ritual and experience. TAAT offers an alternative experience without compromise.
TAAT Lifestyle and Wellness has developed TAAT, a tobacco-free and nicotine-free alternative to traditional cigarettes available in Original, Smooth and Menthol varieties. TAAT’s base material is Beyond Tobacco, a proprietary blend that undergoes a patent-pending refinement technique causing its scent and taste to resemble tobacco. Under executive leadership with Big Tobacco pedigree, TAAT was launched first in the United States in Q4 2020 as the company seeks to position itself in the $814 billion global tobacco industry.
For more information, visit the company’s websites at www.TryTAAT.com
NOTE TO INVESTORS
: The latest news and updates relating to TOBAF are available in the company’s newsroom at https://ibn.fm/TOBAF
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