Generation NEXT Reveals its Vision for Unattended, Autonomous Retail with New Website
SAN DIEGO, CA, Sept. 06, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE - Generation NEXT Franchise Brands, Inc. (OTCQB: VEND) has refreshed its corporate identity to better reflect its expanding portfolio of innovative technologies in the unattended retail space, Nick Yates, Chairman for Generation NEXT Franchise Brands, announced today.
“Our company has become a full-scale developer of robotics, blockchain, and artificial intelligence platforms designed to disrupt traditional retail, and most importantly, establish ourselves as an industry leader in the emerging and fast-growing space of unattended retail,” Yates said. “Our existing corporate branding had not caught up with the breakthrough innovations and accomplishments we’ve made this year. Today, we’re launching a new corporate website and a refresh of our corporate identity to better reflect where we are as a company today, and the innovative nature of our current and future product stream.”
Best known for its robotic frozen yogurt and ice cream franchise, Reis & Irvy’s, Generation NEXT Franchise Brands’ research and development extends far beyond refreshing robot-served treats. The company is developing and deploying artificial intelligence and blockchain solutions that solve real-world problems in food retail, especially the unattended variety.
For example, the company has incorporated proximity sensors into its Reis & Irvy’s robotic vending kiosks that actually detect and quantify passersby - each of whom represent a potential customer. This real-time foot traffic data is then analyzed by sophisticated AI engines that are also tracking real-time sales data from each Reis & Irvy’s vending robot, customer preferences for different flavors and toppings - even the day’s weather - and how all this data relates to each other in order to determine consumers’ behavior patterns. “In the near future, this data and the AI we are developing will allow us to precisely plan promotions, adjust product offerings, and better predict our needs from a supply chain perspective,” Yates said.
And in terms of supply chain and franchisees - especially across international borders (the company has partners and franchisees in the U.S., Canada, Australia, Oman and Israel) - Generation NEXT will soon be deploying a custom-developed blockchain solution, based on smart contracts, for partners and franchisees to both manage the supply chain and transact amongst themselves and the company, ensuring that both the supply chain and payments - be they with suppliers or license and royalties paid to Generation NEXT - are transparent, accountable, instant and on-demand. By using its own token and ledger, the company also plans to eliminate exchange rate and other risks. “From the beginning, we’ve been a supporter of blockchain technology - our Reis & Irvy’s robotic vending kiosks have, since their inception, accepted Bitcoin and other cryptocurrencies as payment. But we understand that the true power of blockchain is the ledger and smart contracts,” Yates said.
“The work we are doing with AI and blockchain, we believe, will be fundamental to the successful expansion not only of the Reis & Irvy’s franchise, but also our next planned robotic vending concept - not to mention unattended retail as a whole. Our company is working toward a future in food retail where you are served by a robot, the ‘manager’ is an AI and the supply chain is managed on the blockchain. We’re not too far from that today, and we believe our company is best positioned to get the unattended retail industry, particularly the unattended food retail industry, there first,” Yates added. “In the future, others may find our systems and methods equally valuable for their own businesses.”
After a year of unprecedented innovation Generation NEXT Franchise Brands has launched a new website aimed at better presenting the company’s current and future technologies to stakeholders and the public alike.
The new website was created by a talented in-house team of web designers, graphic artists, videographers, and animators and features cutting edge, 3D wireframe graphics and animations that highlight the company’s core business units that make the site as eye-catching as it is informative, with a brand new, one-stop investor relations center where thousands of shareholders will now be able to locate the company’s most recent press releases, regulatory filings, financial statements and more in one convenient location. The new website can be found at: http://www.gennextbrands.com.
Reis & Irvy’s: Franchise Expansion Highlights
Since its debut, Reis & Irvy’s has grown to over 275 franchisees across the U.S. and represents over 1,400 pending robot installations aggregating approximately $59 million. With additional contract commitments for over 3,400 robots worth an estimated $135 million ($194 million in total) in potential future revenues for Generation NEXT Franchise Brands, Inc. (VEND) is leading the way with frozen desserts, fully autonomous robotic delivery, visual and audio entertainment, and a unique retail experience. The robots accept cash, credit cards, Apple Pay, Google Wallet, PayPal, and cryptocurrency such as Bitcoin.
One of the company’s more high-profile franchisees, PGA Championship golfer Phil Mickelson, announced an interest in the company, signing a contract in June to deploy 30 Reis & Irvy’s kiosks in Southern California.
For more information, visit the Reis & Irvy’s website at www.reisandirvys.com or call Toll-Free (888) 902-7558. Generation NEXT Website: www.gennextbrands.com
About Generation NEXT Franchise Brands, Inc.
Generation NEXT Franchise Brands, Inc., based in San Diego, California, is a publicly traded company on the OTC Markets trading under the symbol OTCBB: VEND. Generation NEXT Franchise Brands, Inc. is parent company to Reis and Irvy's, Inc. and Generation NEXT Vending Robots.
About Reis & Irvy's, Inc.
Reis & Irvy's, Inc. is a subsidiary franchise concept of Generation NEXT Franchise Brands, Inc. (VEND). Launched in early 2016, the revolutionary Reis & Irvy's Vending Robot serves seven different flavors of frozen yogurt, ice cream, sorbets and gelatos, and a choice of up to six custom toppings to customers within 60 seconds or less at the point of sale. The unique franchise opportunity has since established itself as a high-demand product and currently showcases a franchise network both domestically as well as internationally.
This information is not intended as an offer to sell, or the solicitation of an offer to buy, a franchise. It is for information purposes only. No Reis & Irvy's franchises will be sold to any resident of any state until the offering has been exempted from the requirements of, or duly registered in and declared effective by, such state and the required FDD (if any) has been delivered to the prospective franchisee before the sale in compliance with applicable law. Currently, the following states in the United States regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. If you reside in one of these states, or even if you reside elsewhere, you may have certain rights under applicable franchise laws or regulations.
Cautionary note on forward-looking statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among others, statements concerning our future financial performance, including statements regarding: our ability to generate revenue and recognize deferred revenue; our ability to timely launch delivery and installation of our frozen yogurt robots; and our ability to grow our franchising and licensing divisions and launch our corporate-owned and direct sales platforms. The Company bases these forward-looking statements on its current expectations, estimates and projections about future events and the industry in which it operates using information currently available to it. Actual results could differ materially from those discussed in, or implied by, these forward-looking statements. Forward-looking statements are identified by words such as "believe," "anticipate," "propose," "expect," "intend," "plan," "will," "may," "estimates," variations of such words and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Factors that could cause actual results to differ from those implied by the forward-looking statements contained in this press release are set forth in our filings with the Securities and Exchange Commission (SEC), including our most recent Annual Report on Form 10-K for the year ended June 30, 2017, our Quarterly Reports, and our Current Reports on Form 8-K. Be advised that developments subsequent to this press release are likely to cause these statements to become outdated and the Company is under no obligation (and expressly disclaims any such obligation) to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.