SHISHI, China, March 28, 2018 /PRNewswire/ -- KBS Fashion Group Limited (NASDAQ: KBSF) ("KBS" or the "Company"), a vertically-integrated casual menswear company in China, today announced that the Company is exploring opportunities in investing and developing new artificial intelligence technologies that may offer significant values to the apparel industry.
Mr. Yan, Chairman and CEO of KBS, commented, "This strategic movement flags the Company's intention to expand its business in new technologies for complementing its core manufacturing business." "The Company intends to pursue such opportunities via either the direct investment into or cooperation with companies where there are significant synergies." "I believe KBSF is well positioned and has the capacities for becoming a meaningful player in the evolution of artificial intelligence in the apparel industries in China and globally", added Mr. Yan.
About KBS Fashion Group Limited
Headquartered in Shishi, China, KBS Fashion Group Limited, through its subsidiaries, is engaged in the business of designing, manufacturing, selling and distributing its own casual menswear brand, KBS, through a network of 50 KBS branded stores (as of June 30, 2017) and over a number of multi-brand stores. 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