Reebonz Announces Membership to Association Against Counterfeit Distribution (“AACD”)
August 05 2019 - 7:45AM
Reebonz Holding Limited (the “Company” or “Reebonz”; Nasdaq: RBZ),
a leading online luxury marketplace and platform in Asia Pacific,
announced today that it has received membership to the Association
Against Counterfeit Product Distribution (“AACD”), an organization
working to prevent and eliminate counterfeit and illegal goods.
Reebonz is the first overseas company to join the AACD and is
applicable to products it owns.
The AACD is an industry group in Japan that was
launched in April 1998 with the aim of preventing and eliminating
the distribution of "counterfeit goods" and "illegal goods".
The AACD believes that the protection of intellectual property
rights in the consumer market is of paramount importance. The
organization’s aim is to create a sound and reliable market in
which consumers can safely purchase genuine branded products by
preventing the distribution of counterfeit and fraudulent products,
or otherwise eliminating such products, from the market. Member
companies conduct their respective businesses in compliance with
strict criteria for the handling of products, which the AACD has
set forth independently.
Samuel Lim, Co-founder and Chief Executive
Officer of Reebonz, commented, “We are extremely excited to be a
part of the AACD and are proud to have successfully met their
rigorous criteria. This membership is a strong testament to our
commitment to providing a trusted platform, where consumers can buy
and sell new and pre-owned luxury products with ease. Our new Sell
Back Guarantee and Sell Catalog strategies have been important to
our development, and we plan to continue to expand our offerings to
make it ever easier for people to safely buy the best new and
pre-owned products.”
Forward-Looking and Cautionary
StatementsCertain statements made in this release are
“forward-looking statements” within the meaning of the “safe
harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995. When used in this press release, the
words “estimates,” “projected,” “expects,” “anticipates,”
“forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,”
“will,” “should,” “future,” “propose” and variations of these words
or similar expressions (or the negative versions of such words or
expressions) are intended to identify forward-looking statements.
These forward-looking statements are not guarantees of future
performance, conditions or results, and involve a number of known
and unknown risks, uncertainties, assumptions and other important
factors, many of which are outside Reebonz’s control, that could
cause actual results or outcomes to differ materially from those
discussed in the forward-looking statements. Important factors,
among others, that may affect actual results or outcomes include:
the ability to maintain NASDAQ’s continued listing standards;
Reebonz’s ability to manage growth; the reaction of Reebonz
customers and suppliers to its business combination; rising costs
adversely affecting Reebonz’s profitability; potential litigation
involving Reebonz’s intellectual property; and general economic and
market conditions impacting demand for Reebonz’s products. See the
risk factors disclosed in Reebonz’s most recently filed prospectus,
filed with the SEC on April 17, 2019 for additional risks. Reebonz
does not undertake any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
About Reebonz:
Headquartered in Singapore, Reebonz is the
trusted online platform for buying and selling a wide range of
luxury products. Reebonz makes luxury accessible by giving our
members more from the world of luxury through Reebonz.com and
Reebonz Closets app—a standalone C2C platform that allows customers
to buy and sell their pre-owned items to a community of over 5.5
million members. With an easy shopping experience, members can
enjoy convenient access to new and pre-owned luxuries curated from
all around the world. Reebonz has offices located in Australia,
Hong Kong, Indonesia, Malaysia, South Korea, Thailand, and Taiwan.
For investor and media inquiries, please contact:
Reebonz Holding Limited | ir@reebonz.com Christensen | Tip Fleming
| tfleming@ChristensenIR.com | Contact: +1 917 412 3333
For more information on Reebonz, please visit
www.reebonz.com
Stay connected with us
at:Facebook: @ReebonzSG |
Instagram: @ReebonzOfficial
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