NoHo Inc (DRNK)

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$DRNK NOHO, INC. TO CONSOLIDATE OPERATIONS AMID BOOMING ALCOHOL SALES

https://www.globenewswire.com/news-release/2021/12/13/2350609/0/en/NOHO-INC-TO-CONSOLIDATE-OPERATIONS-AMID-BOOMING-ALCOHOL-SALES.html

Scottsdale, Arizona, Dec. 13, 2021 (GLOBE NEWSWIRE) -- NOHO, Inc. (OTC PINK: DRNK), a Wyoming corporation (the “Company”), announced the following:

The Company is finalizing an agreement with a Florida-based supplement manufacturer to assume production, packaging and fulfillment services from a single location.

Currently, the After Shot is manufactured and packed in one facility and the full product is shipped to a separate fulfillment center. Through the new logistics partner, the product will be shipped from the formulator in a concentrate, without water, which reduces shipping costs substantially. The product will then be finished, bottled and packed in the Florida location, which is an FDA/cGMP registered facility. Unlike most manufacturers and bottlers, our new logistics partner also has fulfillment capabilities on premises. As a result, the Company will eliminate the entirety of those shipping expenses. Further, reducing costs, the pick and pack charges incurred with each consumer sale are substantially lower than those of the current provider. As the Company seeks to launch three new products in 2022, starting with the nootropics, focus formulation, the cost savings achieved with the After Shot will be multiplied across the entire product line.

Alcohol Sales Soar

Since alcohol sales soared in 2020, revenues have remained high into 2021 and new categories have emerged that are poised to sustain growth into the future.

As consumers were confined to their homes for the better part of 2020, the popularized video-streaming drinking parties and amateur at-home barkeeps that emerged, have changed consumer behavior, perhaps for the long-term. The proliferation of DIY recipes from newly minted celebrity mixologists, combined with surging sales of alcohol-related hardware, has resulted in brands developing products in the new category of Ready-to-Drink (RTD). Research has also revealed that the increase in sales is from larger individual purchases, suggesting that more of the heaver drinkers may suffer an increase of the dreaded day-after hangover. The Company’s After Shot is targeted to the heart of these growing market segments. From the late-twenties junior executive, who still parties hard but now finds it hard to get going the next morning, to the soccer moms having after-game cocktails and the bougie, online drinking-club Winos, NOHO’s After Shot is the remedy for those next day woes.

NOHO is reacting to the evolving market by developing strategies adapted to the new alcohol consumer and increased consumption from regular drinkers. In either case, the overall surge in alcohol consumption and revenues is the ideal market environment and timing for NOHO going into the new year.

Eric Stoll, the founder of Lifetime Branding Collab. and now NOHO’s marketing and branding leader, said, “NOHO’s entry into the recovery space, given the recent massive uptick in drinking behavior, is timed perfectly. The After Shot is positioned to be completely unapologetic, offering a much-needed hand of natural goodness to the battle-worn partyer suffering the next-day blues. We don’t care who you are or how you got there, NOHO also stands for NO judgment! We’re building a brand around fun and the enjoyment of life.”

David Mersky, NOHO’s CEO, said, “The timing couldn’t be better for NOHO going into 2022. As we unleash Eric on the growing alcohol market, I’m laser focused on our financials and moving toward our planned offering.”

More from NOHO – In addition to the After Shot, we have developed a new line of products, all leveraging Hydro-Nano technology, which will be rolling out soon. For additional information and product updates, please follow us at www.nohoshot.com and follow NOHO on Twitter at www.twitter.com/NOHOdrink.