WeSC and NOXS inc agree on e-commerce partnership in North America
Stockholm, Sweden, April 11, 2018
WeSC has initiated partnership for the North American market regarding e-commerce. The partnership with NOXS entitles WeSC a guaranteed share on both in season and off season sales. Besides marketing and sales costs, NOXS who have an extensive experience in e-commerce, will be responsible for all production costs as well as logistics starting the fall of 2018. The agreement runs for 5 years and is subject to NOXS delivering a minimum growth rate of 10% annually.
“A successful e-commerce business requires both know how and a significant capital investment and WeSC has not been able to make a real effort to develop our own e-commerce business in a satisfactory way. This partnership agreement is a way of addressing the e-commerce opportunity in this region. We currently have an in-house solution for Europe but are looking to implementing a similar solution in Europe in the future. This agreement, in in addition to the many licensing agreements we have signed in the last 6 months, should be seen as a way to controlling costs and capital needs without missing business opportunities", says CEO Joseph Janus
For further information, contact:
Business queries: Joseph Janus, CEO +46 8 46 50 50 00
Shareholder queries: Theodor Dalenson, Board chairman +46 8 46 50 50 00
The information is such that WeSC AB (publ) is required to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on April 11, 2018 CET 08.15.
Briefly about the company
WeSC designs, markets and sells clothing and accessories in the premium streetwear segment of the international market under the WeSC brand. WESC's shares are traded on Nasdaq First North and the company's Certified Adviser is Mangold Fondkommission AB, tel. +46 8 503 015 50.