Letter from the CEO December 2022
The year is slowly but surely coming to an end and we are about to end an intense and successful business year, despite the negative macro events that have characterized 2022. The last month has also continued to be intense where we had events together with Söderberg & Partners, launched the Sureka chocolate and built a sales force for Karuu in Europe.
Launch of Sureka and YR Skincare
On November 17, we finally launched the Sureka chocolate at Grappe's wine cellar together with Söderberg & Partners. We invited investors and other partners to taste the chocolate, which has been launched in five different flavors. All in all, it was a very successful event. If you missed the event together with Söderberg & Partners, we will hold a new event at Scandic Anglais on December 7 together with Prosper Ventures. More information about registration can be found further down. We will also have several events with Söderberg & Partners during the next year.
It is now possible to buy the Sureka chocolate at https://www.karuustore.com/. To celebrate the launch, we have also created a welcome offer where you get the opportunity to buy the chocolate at a 20% discount until December 10. Take the opportunity to buy the perfect Christmas present now! Enter the code "newyear2023" (only applies to 1 x 5 pack).
Pilot project with LGR Global
In the previous CEO letter, I announced that we had signed an MoU with LGR Global. We have now started a pilot project together with them for financing import and export goods. LGR Global will be a key commercialization and financing stage partner for our current and future partners. The project is between three countries and it is extremely encouraging for everyone to see how the entire value chain will benefit with total digitization of the process from order to delivery. This pilot project will help all our subsidiaries that work with import and export of goods to digitize the process and thus create better margins as costs will drop sharply.
Sales force for Karuu
We have recently set up a sales force for our subsidiary Karuu that will operate on the European market. They have already started to establish a dialogue with customers and I feel confident that we will see results from their sales as early as Q1 next year. Karuu has also launched YR products (from Yvonne Ryding Cosmetics AB) at its partner Tmall in China. It is a very prestigious milestone as Tmall has tough criteria for bringing new products onto its platform.
New business towards the Asian market
We are in several discussions with Asian companies where we have come a long way in the discussions and are close to signing agreements. Several of these agreements, if signed, will generate high volume and turnover and are strategically important agreements from several aspects. I will return later with more information about these. The agreements are expected to be signed before Christmas and we will announce this via press release. The deals are important for our subsidiaries and partners, especially now that there is a recession all over Europe where many companies have already started to cut back on staff. THiS Group's international network with major players favors our subsidiaries to carry out business in a cost-effective manner in combination with volume.
Introduction of conversion clause in the articles of association
We have called an extraordinary general meeting on December 9 to decide on an addition to the articles of association. The reason for this is to enable shareholders to convert their Series-A shares into Series-B shares, which in turn are the class of shares planned to be listed on the market. We will provide more information about how the conversion process itself will take place later.
I wish you all a Merry Christmas and a Happy New Year if you don't hear from me before Christmas. I also hope that next year will be a successful year for you and your loved ones, filled with health and enjoyment.
Ali Farmandeh,
President and CEO, THiS Less-is-more Group AB (publ)
If you don't follow us on social media, you are most welcome to do so @THiS Group
PS If you want to take part in the event together with Prosper Ventures on December 7 at Scandic Anglais, you can register with your name and phone number to info@prosperventures.eu. Mark the email with "THiS After Work".
Jacob Svensson
Investor Relations
ir@thisgroup.se
THiS Less-is-more Group AB is building a company group with a focus on health and a healthy lifestyle. These companies share the need for centralized digitization, distribution and commercialization of products and services, and through sustainable business will contribute to reducing the incidence of obesity, type 2 diabetes, cardiovascular disease and other public diseases.
