The Company has also completed the initial testing of JKOS'
integration with the smart-enabled HAKOmini set-top box
VANCOUVER, BC, Oct. 18, 2021 /CNW/ - Just Kitchen Holdings Corp. ("JustKitchen" or the "Company") (TSXV: JK) (OTC: JKHCF) (Frankfurt: 68Z), an operator of ghost kitchens specializing in the development of delivery-only food brands, is pleased to announce that it has launched the JustKitchen Operating System ("JKOS"), which is software that integrates with third party devices and applications to add food ordering capabilities for the users of those technologies. JKOS was developed as a way to strengthen the Company's competitive advantage by increasing its number of sales channels. The software enables JustKitchen to offer its expanding portfolio of delivery-only food brands and menus to the growing number of customers who are interacting with smart technologies that are different than mobile phones and computers, such as televisions and fashion accessories, for example.
"The launch of JKOS is an important strategic step for JustKitchen as it unlocks access to customers in new settings and in new ways. JKOS' integration with the HAKOmini is only our first step toward making JustKitchen's food brands and menus available to customers on a wider range of devices," said Jason Chen, Co-Founder and Chief Executive Officer of JustKitchen. "We view both our proprietary technology stack and our suite of in-house and partner brands as core to JustKitchen's strengthening competitive advantage. By making our delivery-only food items available on more devices and apps, we are innovating in response to evolving consumer behaviours in combination with new technologies," added Mr. Chen.
Additionally, the Company has signed an agreement and completed the initial testing of JKOS' integration with the HAKOmini device, which is a set-top television box that is popular in Asia and functions on the Android TV operating system. Users of the HAKOmini will soon be able to place food orders while watching television, which will be fulfilled by the Company's nearest ghost kitchen locations for delivery to their homes. Over 20,000 HAKOmini units have been sold to date, with over 64% of owners being active daily users. According to Strategy Analytics, over half of the world's 1.1 billion televisions will be smart-enabled by 20261, while Rethink predicts that Android TV will have a 25% share of the smart TV and TV-connected devices market by 2026, representing an estimated 236 million of 905 million devices2.
Management expects that JKOS will initially be applied to enable offline-to-online ordering, elevate third party marketplaces and add value to emerging opportunities in alternative sales channels. Once a third-party device or application is integrated with JKOS, a user's food order will be routed to the Company's nearest ghost kitchen location and delivered to the consumer. Accordingly, JKOS has the potential to accelerate the on-demand food delivery market by enabling popular application operators to create their own virtual food halls. The Company is currently working with various operators of convenience stores, shopping malls and department stores to create virtual food halls and integrate them through JKOS into their businesses to enhance their customers' experience.
JustKitchen is primarily an operator of ghost kitchens specializing in the development and marketing of proprietary and franchised delivery-only food brands for customers. The Company currently operates in Taiwan and Hong Kong with plans to expand operations to the United States and other Asian countries. JustKitchen uniquely utilizes a hub-and-spoke operating model, which features advanced food preparation taking place at larger hub kitchens and final meal preparation taking place at smaller spoke kitchens located in areas with higher population densities. The Company combines this operating model with online and mobile application-based food ordering fulfilled by third-party delivery companies, to minimize capital investments and operating expenses and reach more customers in underserved markets. The Company's other business, JustMarket, is an e-commerce grocery delivery platform that allows customers to purchase groceries for delivery or add select grocery items to meals ordered through JustKitchen.
For more information about the Company, please visit investors.justkitchen.com. JustKitchen's final prospectus, financial statements and management's discussion and analysis, among other documents, are all available on the Company's profile page on SEDAR at www.sedar.com.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur including but not limited to the Company's comments regarding the ability to integrate a fully functional final version of JKOS into third party devices and applications to route customer food orders to its nearest ghost kitchen locations; the expected application of JKOS to various sales channels; and JKOS' potential to accelerate the on-demand food delivery market. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks, including those risk factors identified in the Company's prospectus dated March 26, 2021, and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Jonathan Easton, "Smart TVs to become the majority within five years," Digital TV Europe 22 July 2021, https://www.digitaltveurope.com/2021/07/22/smart-tvs-to-become-the-majority-within-five-years/, Web, 15 October 2021.
Stuart Thomson, "Android TV and Huawei predicted to take bigger share of declining pay TV set-top market," Digital TV Europe 12 July 2021, https://www.digitaltveurope.com/2021/07/12/android-tv-and-huawei-predicted-to-take-bigger-share-of-declining-pay-tv-set-top-market/#:~:text=Android%20TV%20is%20predicted%20to,a%20total%20905%20million%20devices, Web, 15 October 2021.
SOURCE Just Kitchen Holdings Corp.
For further information: CONTACT INFORMATION: Just Kitchen Holdings Corp.: Suite 1430, 800 West Pender Street, Vancouver, British Columbia, V6C 2V6; Nick Kuzyk, Investor Relations, Toll-Free: 1-855-JST-KCHN (1-855-578-5246), Email: [email protected]