Los Angeles, CA, December 9, 2020 — GenTech Holdings, Inc. (OTC PINK: GTEH) (“GenTech” or the “Company”), an emerging leader in the high-end Premium Coffee (www.secretjavas.com), (“Secret Javas”) Hemp Wellness (www.hakunasupply.com) (“Hakuna”) and Functional Foods subsidiary SINFIT Nutrition Inc. (www.SINFITnutrition.com) (“SINFIT”), is excited to announce that Hakuna has officially added a personalized gift bundle solution to its website in preparation for a busy ecommerce-driven holiday shopping season that will feature the largest total addressable legal market in history for cannabis and CBD products.
“Hakuna has set itself up to be the go-to one-stop-shop for cannabis and CBD holiday shopping in a very unusual context,” commented Ilan Freeman, CEO of Hakuna. “With consumers having greater legal access to marijuana, CBD, and related goods than ever before, we are seeing the public stigma on cannabis disappear. With more consumers entering the market, we see the potential for the cannabis gifting industry to explode with businesses and household consumers turning increasingly to ecommerce platforms to meet this growing need. As a result, we have added new functionality to our site to provide more value to our customers and shareholders, and we are already seeing results.”
Management notes that the Company’s gift bundle integrated site functionality allows customers to personalize gift giving for employees, vendors, friends, loved ones, and even themselves. Each customer can choose between any box style, personalize design options, and then add up to six (6) different accessories into the box. The Company plans to add a custom etching feature to the site soon as well.
Since adding this new functionality to the HakunaSupply.com web portal, Hakuna has already seen a tangible increase in online sales (up 13%) and conversion rate (up 24%).
According to a recent article published on Entrepreneur.com, the personalized gift item market is currently valued at $31.63 billion and has quadrupled in size over the past five years. The rising popularity of ecommerce is portrayed as a key contributing factor in this trend as well. The global e-commerce market is expected to grow by $200 billion by 2022. Within this trend, the online services marketplace is seen as an especially potent contributor. The Company sees enormous potential where this trend intersects with the massive growth trend now characterizing the cannabis market.
GenTech also recently announced that its SINFIT Nutrition Brand had shipped products to Saveco in Kuwait and is currently awaiting for the State of Kuwait’s government to finalize the registration of the SINFIT brand for import and sale through Saveco’s massive online presence and via their various physical stores throughout the region.
About GenTech Holdings, Inc.:
GenTech Holdings, Inc. is a publicly traded company under the symbol GTEH. The Company launched a high-end Coffee Subscription service in early 2020 called Secret Javas, owns a Functional Food company, SINFIT Nutrition and recently closed its acquisition on Products-Groups’ “Hakuna Supply”.
This press release may contain forward-looking statements, including information about management’s view of GenTech, Inc.’s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of GenTech, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on GenTech’s future results. The forward-looking statements included in this press release are made only as of the date hereof. GenTech cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, GenTech undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by GenTech.