KBS Fashion Group, a leading fully-integrated casual menswear company headquartered in Shishi, China, has extended a framework sales contract with each of two major current customers - Hangzhou Zi Yin Apparel Clothes (Hangzhou Ziyin) and Hangzhou Yiyuan Apparel (Hangzhou Yiyuan).The term of each contract was extended for another 12 months until Dec 31 2019.

The company expects renewal of these two sales contracts to generate approximately RMB 28 million in total, of which RMB 20 million relates to Hangzhou Ziyin's new orders of 450,000 kids' down jackets and other types of clothing and RMB 8 million from Hangzhou Yiyuan's new orders of 160,000 men's down jackets and other types of clothing for this year.

Keyan Yan, chief executive officer of the company commented, "The renewals attest the successful partnership between us and these two customers. The company has decided to shift its focus to profitability from the market share expansion of our own brand products. Therefore, starting 2019, all distributors are required to place orders based on market demands and the company will no longer repurchase from the distributors any excessive stock of new orders from 2019. We are committed to staying ahead of quality services and look forward to working with these customers for years to come." (SV)

Fibre2Fashion News Desk – India

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