DAVIDsTEA Appoints Chief Digital Officer to Drive Online Sales

DAVIDsTEA Inc. (TSX-Venture: DTEA) (“DAVIDsTEA” or the “Company”), a leading tea merchant in North America, announced today the appointment of Damon Sloane as Chief Digital Officer to drive online sales and enhance overall customer experience.

Mr. Sloane, who holds a Bachelor of Communication (Multimedia) degree from the University of Canberra in Australia, has more than 18 years of experience growing companies through digital transformation and omnichannel marketing initiatives including retail, wholesale and e-commerce. His focus on data-driven decision-making represents a key strategic asset for organizations adopting digital-first growth strategies.

Mr. Sloane previously served as Vice-President of e-Commerce and Customer Experience at DAVIDsTEA and oversaw a period of significant online sales growth at the Company.

“We are excited that Damon will be spearheading digital innovation at DAVIDsTEA, while acting as an agent of change throughout the organization to better serve our online customers,” said Sarah Segal, Chief Executive Officer and Chief Brand Officer, DAVIDsTEA. “Damon has a proven track record of ensuring that digital initiatives are closely aligned with customer needs and expectations, resulting in exceptional user experiences and increased customer satisfaction. His focus on being the voice of the customer, combined with a data-driven approach, will enable DAVIDsTEA to optimize a frictionless digital experience and accelerate revenue growth.”

About DAVIDsTEA

DAVIDsTEA offers a specialty branded selection of high-quality proprietary loose-leaf teas, pre-packaged teas, tea sachets, tea-related accessories and gifts through its e-commerce platform at www.davidstea.com and the Amazon Marketplace, its wholesale customers which include over 4,000 grocery stores and pharmacies, and 18 company-owned stores across Canada and 170 grocery stores in the United States. The Company offers primarily proprietary tea blends that are exclusive to the Company, as well as traditional single-origin teas and herbs. Our passion for and knowledge of tea permeates our culture and is rooted in an excitement to explore the taste, health and lifestyle elements of tea. With a focus on innovative flavours, wellness-driven ingredients and organic tea, the Company launches seasonally driven “collections” with a mission of making tea fun and accessible to all. The Company is headquartered in Montréal, Canada.

Caution Regarding Forward-Looking StatementsThis press release includes statements that express our opinions, expectations, beliefs, plans or assumptions regarding future events or future results and there are, or may be deemed to be, “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”). The following cautionary statements are being made pursuant to the provisions of the Act and with the intention of obtaining the benefits of the “safe harbor” provisions of the Act. These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms “believes”, “expects”, “may”, “will”, “should”, “approximately”, “intends”, “plans”, “estimates” or “anticipates” or, in each case, their negatives or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts and include statements regarding our intentions, beliefs or current expectations concerning, among other things, our strategy of transitioning to e-commerce and wholesale sales, future sales through our e-commerce and wholesale channels, our results of operations, financial condition, liquidity and prospects, and the impact of the COVID-19 pandemic on the global macroeconomic environment.

While we believe these opinions and expectations are based on reasonable assumptions, such forward-looking statements are inherently subject to risks, uncertainties and assumptions about us, including the risk factors discussed in Management’s Discussion and Analysis of Financial Condition and Results of Operations for our fiscal year ended January 28, 2023, filed with the Autorité des marchés financiers, on April 28, 2023 which could materially affect our business, financial condition or future results.

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