TAAT receives CAD $149K purchase order from the UK
by CM Staff
TAAT™ will ship domestically manufactured inventory from the United States to fulfill the current purchase order from GGE.
LAS VEGAS and VANCOUVER — TAAT™ GLOBAL ALTERNATIVES INC. announces that it has entered into a letter of intent with Green Global Earth Ltd. to be the exclusive distributor of TAAT™ Original, Smooth, and Menthol in the United Kingdom and Ireland, who placed a €100,000 purchase order for an initial supply of TAAT™. Under the terms of the purchase order, TAAT™ is to ship the full quantity to GGE’s preferred port in the United Kingdom on “free on board” terms. Through the distribution relationship between the Company and GGE, TAAT™ will be commercialized in both the United Kingdom and Ireland through GGE’s existing wholesale network as an alternative to existing combustible tobacco products for smokers aged 21+. Distribution of TAAT™ in the United Kingdom and Ireland would complement the Company’s current retail distribution in Ohio and its existing e-commerce making TAAT™ available for purchase by the majority of smokers aged 21+ across the United States.
Based on 2018 data from the World Health Organization, the prices of the most sold brand of cigarettes (standardized to a pack of 20) in international dollars (purchasing power parity adjusted) were $13.581 and $14.952 in the United Kingdom and Ireland (respectively), compared to $6.863 in the United States.
At the outset, TAAT™ will ship domestically manufactured inventory from the United States to fulfill the current purchase order from GGE, as well as any potential future orders from GGE to the United Kingdom or Ireland in the near term. At a later date, GGE may avail its supply of raw materials and undertake manufacturing of TAAT™ on the Company’s behalf in markets in which GGE would operate under a “licensed” production and distribution agreement.
TAAT™ Chief Executive Officer Setti Coscarella commented, “Expansion launches in the CPG category need to be conducted passively, so as to ensure the product is optimally positioned in its new markets. 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.”
