Bossini International (HKG:0592) entered into a purchase framework agreement with Viva Goods' (HKG:0933) subsidiary, Viva Shoes, for adult and children's shoes, a Friday Hong Kong bourse filing said.
As per the new agreement, the company and any of its subsidiaries may purchase the products from Viva as per their needs until the end of 2025.
The contract sets an annual cap of 5 million yuan for the fees payable by the group for each of the years, 2024 and 2025. The fees will be funded by the group's internal resources.
The latest deal replaces a previous purchase agreement between Viva Shoes and Guangzhou Fubaolong, another unit of Bossini, in which only the subsidiary can buy the products from Viva Shoes.
The apparel brand owner and retailer's shares closed over 4% lower on Friday.
Price (HKD): $0.12, Change: $-0.0050, Percent Change: -4.03%
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