SHISHI, China, Sept. 16, 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 Business Strategic Agreement ("Agreement") with
Tianjin China Travel Cultural Development Company ("TCTCD"), a
subsidiary of China Travel Services ("CTS"). The Agreement was
entered into on September 15, 2021
and the transaction closed on the same day.
Pursuant to the Agreement, Luxventure will cooperate with TCTCD
to jointly develop an online, mobile and offline cross-border BBC
system, which would enable members of TCTCD access to cross-border
products of Luxventure.
Ms. Sun Lei, Chief Executive
Officer of the Company commented: "TCTCD has 106 stores in the city
of Tianjin serving
approximately 13,000,000 residences. This cooperation
enables TCTCD to bring on-line cross-border products experience to
its members. The joint development of cross-border BBC system
shows our technology solution can be easily adopted. I look
forward to more companies using our technology and expand our
distribution channel."
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.
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SOURCE KBS Fashion Group Limited