Luxventure Entered into Agreement with Tianjin China Travel Cultural Development Company, a subsidiary of China Travel Services
Retrieved on:
Thursday, September 16, 2021
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.
Key Points:
- 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.
- Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.