Italian Food & Beverage Corp. (OTC:IFBC) Stock Trends Higher After Announcing New Strategic Partner
Italian Food & Beverage Corp. (OTC:IFBC) could well prove to be in the sweet spot for many investors since it is involved in two high-growth spaces: energy drinks and beverages. Yesterday, the company announced that it had entered into a new strategic partnership with King E-Sport. King is a specialist in online and live events in the immersive eSports and video game spaces.
Italian Food & Beverage Corp. noted in its press release that there was a considerable correlation between eSports players and consumers of energy drinks. Hence, the company participated in the Milan Games Week and Cartoomics in association with King E-Sport. The event, regarded as the premier gaming and eSports event in Italy, was held from November 24 to November 26 at the Rho di Milano. It attracted in excess of 200,000 visitors, and more than 120,000 gamers participated over the course of three days. It was a new record.
At that event, Italian Food & Beverage Corp. showcased its Dino Luzzi Energy drink to gamers and managed to draw considerable attention for being one of the best products of its kind. The positive response from the participants at the event whetted the appetite of both companies to expand the partnership and get into the fast-growing eSports market in the United States.
At this point, the total number of eSports players in the country is estimated to be 212 million, and the worldwide count is estimated to be 3.24 billion. The Chief Executive Officer of the company, Dino Luzzi, spoke about his participation at the event. He noted that he would never forget the enthusiasm that was created by the huge young crowd and went on to add that the enthusiasm was overwhelming. In the news release, the company also stated that the two entities were set to start an exciting new journey.
