- EuroLife Brands (EURO) has secured and opened a retail store in Ingolstadt, Germany, bringing the company’s locations total to eight
- The opening is part of the company’s ongoing strategy to expand its retail footprint and market share in Europe
- EuroLife is collaborating with its future subsidiary, CWE, to secure multiple retail store fronts across the continent
- CWE, which EuroLife has agreed to acquire, already owns and operates several locations in Germany, and one in Luxembourg
- EuroLife Brands (EURO) remains unchanged and is currently trading at C$0.25 per share
EuroLife Brands (EURO) has secured and opened a retail store in Ingolstadt, Germany, bringing the company’s locations total to eight.
Ingolstadt is located on the banks of the Danube River, in the centre of Germany’s Bavarian state. The city is part of the Munich Metropolitan Region, with a population of approximately 150,000 people.
This latest store opening is part of EuroLife’s ongoing strategy to expand its retail footprint and market share in Europe. The company is receiving assistance to achieve this goal from its European partners, distributors, and retail networks.
In particular, EuroLife is collaborating with its future subsidiary, CWE, to secure multiple retail store fronts in Europe. In April 2020, the company entered into a Letter of Intent to acquire 100 per cent of CWE’s issued and outstanding securities.
While the parties are still negotiating a definitive agreement, CWE will eventually become a wholly owned EuroLife subsidiary.
CWE owns and operates a multi-store hemp business in German-speaking countries. This includes several retail locations in Germany, and one in Luxembourg.
EuroLife Brands’ CEO, Shawn Moniz, commented on the company’s latest store opening.
“The new location, our eighth in total, located in Ingolstadt, Germany, is a continuation of EuroLife’s European retail strategy of obtaining a network of premium physical retail locations in high-traffic pedestrian areas that promote products that fall within the health and wellness categories.
“This is extremely important, especially in the age of pandemics we live in today.
“We are working closely with our European partners to continue aggressively expanding our retail footprint towards many more retail locations, to drive revenue and increase shareholder value.
“Our goal is to consistently increase market share throughout Germany and the rest of Europe with our retail strategy,” he said.
EuroLife Brands (EURO) remains unchanged and is trading at C$0.25 per share at 11:35am EDT.