SHISHI, China — March 15, 2018 — KBS Fashion Group Limited (“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.”
Posted March 15, 2018
Source: KBS Fashion Group Limited