SHISHI, China, Sept. 7, 2021 /PRNewswire/ -- KBS Fashion Group
Limited ("KBS" or the "Company") (NASDAQ: KBSF), a leading
fully-integrated casual menswear company in China and through
the brand of Luxventure, engaging in cross-border merchandise,
airfare and tourism business, announced today that through Hua Zhi
Guan (Hainan) Cross-Border
E-Commerce Co., Ltd., Luxventure closed a Supplier Agreement
("Agreement") with Hainan Supply and Marketing Daji Digital
Technology Industry Co., Ltd. ("HSMDD"), the cross-border
E-commerce subsidiary of Hainan Airline Company Limited ("Hainan
Airline"). The Agreement was entered into on August 31, 2021 and the transaction closed on the
same day.
Pursuant to the Agreement, HSMDD will integrate Luxventure's
on-line store on the Youzhan platform into its eco-system, thus
allowing members of Hainan Airline access to Luxventure's
cross-border merchandise.
Ms. Sun Lei, Chief Executive
Officer of the Company commented: "With over 70,000,000 annual
travel passengers, Hainan Airline is one of the largest airlines in
Asia. Luxventure has been in full operation for a bit more
than a year, and this agreement is another affirmation of the
success it had achieved in this short time. The cooperation with
HSMDD would give Luxventure another distribution channel, in
addition to our own platform and off-line stores as well as stores
on third-party platform. This would enable Luxventure to
continue its spectacular growth."
Liu Zie, Chief Technology Officer
of the Company commented: "Our proprietary technology in sale,
cloud warehouse and distribution was one of the key factors for
Hainan Airline to cooperate with Luxventure. Hainan Airline
can use our technology to easily integrate Luxventure into its
system, thus allowing its members access to our cross-border
products. We look forward to more companies to adopt our technology
and in turn, become a partner of Luxventure."
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor may there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About KBS Fashion Group Limited
Headquartered in Shishi, China, KBS Fashion Group Limited,
through its subsidiaries, is engaged in the business of i)
designing, manufacturing, selling and distributing its own casual
menswear brand, KBS, through a network of 30 KBS branded
stores (as of Dec 31, 2019) and over a number of
multi-brand stores. Through the brand of Luxventure, it also
engages in cross-border merchandise, airfare and tourism
business. 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.
Related Links
http://www.kbsfashion.com
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SOURCE KBS Fashion Group Limited