The agreement will see Si Teng’s e-commerce arm leverage its experience in international sales to distribute and promote the Hongri brand in the U.S. and China.
"The signing of the agreement for Hongri will be an important and meaningful step to expand our business to a broader customer base. As one of the leading cross-border e-commerce service providers, Si Teng E-commerce will provide one-stop services to our business by opening, operating and maintaining Hongri's online stores on Amazon and Alibaba Express," says Keyan Yan, chairman and chief executive officer, KBS. "The subject agreement is in line with our corporate strategy to expand into the digital and online sales markets where we see a significant growth potential for our company."
KBS’ online stores are expected to launch in June.