VANCOUVER, BC, Oct. 25, 2021 /CNW/ - PlantX Life Inc. (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) ("PlantX" or the "Company") is pleased to announce that it will launch two new shop-in-shops within prominent Hudson's Bay locations. The two XMarket stores will open in Yorkdale Mall, Toronto, on November 15, 2021, and Rideau Mall, Ottawa, on November 22, 2021.
The partnership between the Company and Hudson's Bay began with PlantX's launch as a Marketplace seller on www.thebay.com in April 2021. On the heels of that success, PlantX will now open two new "shop-in-shop" modern signature stores called XMarket, inside Hudson's Bay. The stores will showcase a variety of plant-based grocery items, cosmetics, and indoor plants. Additionally, the XMarket Rideau location will include an XMarket-branded café providing consumers with carefully selected plant-based food and beverages.
The shop-in-shop licensed model and the XMarket signature café in Hudson's Bay create several significant opportunities. Notably, they will increase the Company's financial efficiency through establishing more favourable financial terms for brick-and-mortar XMarket stores or cafés. Moreover, the strategy will elevate customer experience by broadening physical access to a diverse selection of PlantX products and services, while also enabling same day deliveries of PlantX products across Toronto and Ottawa. This will significantly advance the Company's existing sales and marketing strategies. Moreover, by having stores in high-traffic Hudson's Bay locations, PlantX will be able to boost its brand recognition and reach thousands of customers across Canada in the Hudson's Bay community, which will contribute to both the Company's e-commerce and in-store profitability.
"Opening two new XMarket stores in partnership with the iconic Hudson's Bay will undoubtedly transform the potential of our future retail efforts," said PlantX Founder, Sean Dollinger. "The stores will be crucial discovery touchpoints for customers frequenting these highly trafficked areas, which will boost the PlantX brand recognition. This move enables us to make significant and exciting investments that will enhance customer engagement, and provides us with yet another opportunity to promote plant-based living across Canada."
About PlantX Life Inc.
As the digital face of the plant-based community, PlantX's platform is the one-stop shop for everything plant-based. With its fast-growing category verticals, the Company offers customers across North America more than 5,000 plant-based products. In addition to offering meal and indoor plant deliveries, the Company currently has plans underway to expand its product lines to include cosmetics, clothing and its own water brand — but the business is not limited to an e-commerce platform. The Company uses its digital platform to build a community of like-minded consumers and, most importantly, provide education. Its successful enterprise is being built and fortified on partnerships with top nutritionists, chefs and brands. The Company eliminates the barriers to entry for anyone interested in living a plant-based lifestyle and thriving in a longer, healthier and happier life.
The Company website is http://investor.PlantX.com/.
This press release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as "may," "will," "expect," "likely," "should," "would," "plan," "anticipate," "intend," "potential," "proposed," "estimate," "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. The forward-looking information contained herein includes, without limitation, the opening of XMarket stores in Hudson's Bay locations, the availability of PlantX products, expectations regarding increasing the brand awareness of the Company, the ability to provide same day deliveries in Toronto, Ontario and Ottawa, Ontario and the business and strategic plans of the Company.
By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release including, without limitation: the Company's ability to comply with all applicable governmental regulations including all applicable food safety laws and regulations; impacts to the business and operations of the Company due to the COVID-19 epidemic; a limited operating history; the ability of the Company to access capital to meet future financing needs; the Company's reliance on management and key personnel; competition; changes in consumer trends; foreign currency fluctuations; and general economic, market or business conditions.
Additional risk factors can also be found in the Company's continuous disclosure documents, which have been filed on SEDAR and can be accessed at www.sedar.com. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.