SHISHI, China, April 17, 2018 /PRNewswire/ -- KBS Fashion Group
Limited (KBSF) ("KBS" or the "Company"), a vertically-integrated
casual menswear company in China,
today announced that its China-based subsidiary, Hongri (Fujian) Sports Goods Co. Ltd. ("Hongri")
entered into a cooperative agreement with Hangzhou Si Teng Internet
Technology Co. Ltd ("Si Teng E-commerce"), under which Hongri
authorized Si Teng E-commerce to open, operate and maintain online
stores through Amazon US and Alibaba Express to sell Hongri
products on their behalf. The online stores are expected to be
launched in June of 2018.
"The signing of the agreement for Hongri will be an important
and meaningful step to expand our business to a broader customer
base. As one of the leading cross-border e-commerce service
providers, Si Teng E-commerce will provide one-stop services to our
business by opening, operating and maintaining Hongri's online
stores on Amazon and Alibaba Express," said Mr. Keyan Yan, the Chairman and CEO of KBS, "the
subject agreement is in line with our corporate strategy to expand
into the digital and online sales markets where we see a
significant growth potential for our Company."
With its head offices located in Hangzhou, Zhejiang
Province, Si Teng E-commerce is engaged in the business of
network service, with over ten years of experience in international
sales of products including apparel, accessories, computers,
communication devices, and consumer electronics, and fitness
equipment, as well as jewelry & watches, office products, and
luggage.
About KBS Fashion Group Limited
Headquartered in Shishi, China, KBS
Fashion Group Limited, through its subsidiaries, is engaged in the
business of designing, manufacturing, selling and distributing its
own casual menswear brand, KBS, through a network of 50 KBS branded
stores (as of June 30, 2017) and over a number of multi-brand
stores. To learn more about the Company, please visit its corporate
website at www.kbsfashion.com.
Safe Harbor Statement
This press release may contain certain "forward-looking
statements" relating to the business of KBS Fashion Group Limited,
and its subsidiary companies. All statements, other than statements
of historical fact included herein, are "forward-looking
statements" in nature within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements,
often identified by the use of forward-looking terminology such as
"believes," "expects" or similar expressions, involve known and
unknown risks and uncertainties. Although the Company believes that
the expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. Investors should
not place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic
reports that are filed with the Securities and Exchange Commission
and available on its website (http://www.sec.gov). All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these factors. Other than as required under the securities laws,
the Company does not assume a duty to update these forward-looking
statements.
For further information, please contact:
Lisa Tu
Chief Financial Officer
T: +86 158-5972-2469
E: lingsantu@hotmail.com
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SOURCE KBS Fashion Group Limited