THiS Less-is-more Group AB (publ) (“THiS Group”) and Shanghai Foreign Trade Enterprises Co. Ltd. (“SFTE”) have jointly entered into a long-term and sustainable collaboration.
After several dialogues and fruitful evaluations, both THiS Group and SFTE have decided to cooperate with each other by purchasing goods from Brazil and West Asia to China. The project will be the starting point for further collaboration with other products needed for the Chinese market ordered by SFTE’s customers and clients. THiS Group provides a range of healthy and sustainable lifestyle products through its subsidiaries and partners, categorized on THiS Group’s B2B web showroom and B2C payment webshop https://www.karuustore.com/. Both companies strive for durable, high-quality products at reasonable prices for customers.
“China is a huge and complex market where everything is about trust and the reliability of the supply chain. In THiS Group, we have a large and solid international network with subsidiaries and partners in sustainable products who have access to manufacturers with approved permits for the Chinese market,” says Ali Farmandeh, CEO of THiS Group. “SFTE is a serious and reputable customer and partner with its well-established sales channel throughout China”.
“We strive for quality and price competitiveness to serve our consumers during the pandemic, therefore we only work with companies that understand our demands and needs,” said Hao Chen, CEO of SFTE. “THiS Group holds health products powered by digital solutions and ecosystems with possible traceability and transparency. We look forward to a rewarding and fruitful collaboration”
About Shanghai Foreign Trade Enterprise Ltd
Shanghai Foreign Trade Enterprise Ltd is an international trading company and belongs to one of the subsidiaries of Donglan Haosheng Group, a large state-owned enterprise group in China’s modern service sector. The company ranks 129th among China’s top 500 companies and 54th among China’s top 500 service companies.
About THiS Group
THiS Group is a public holding company that supports its subsidiaries by providing capitalization, commercialization and digitization, thereby strengthening their position in B2B business internationally. THiS Group plans for a listing on Nasdaq First North during Q1 2023.