SHISHI, China, March 15, 2018 /PRNewswire/ -- KBS Fashion Group
Limited (NASDAQ: KBSF) ("KBS" or
the "Company"), a vertically-integrated casual menswear company in
China, today announced that its
China-based subsidiary, Anhui Kai
Xin Co., Ltd ("Kai Xin") entered into a long term strategic
cooperation agreement with Hangzhou Zhi Yin Apparel Clothes Co.,
Ltd., a major producer of children's apparel in China ("Zhi
Yin"), under which, Kai Xin
will act as a long term supplier of down jackets to Zhi Yin. It is estimated that pursuant to
the agreement, KBS will generate an additional RMB 25 million (approximately US$ 4 million) of revenue in fiscal year
2018.
Located in Hangzhou China,
Zhi Yin is a leader in the design
and online sale of baby and children's apparel, with a focus on
down jackets. Owning the Marc & Janine brand,
Zhi Yin is one of the three largest
down jacket online sellers in China.
Mr. Yan, Chairman and new CEO of KBS, commented, "The
cooperation with Zhi Yin, one of
China's largest apparel companies
is consistent with our company's business strategy of offering high
quality products and services to our customers. We have a
highly experienced team at our factories in Anhui that produces high quality
clothing."
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