Jowell Global Ltd (NASDAQ: JWEL) has entered into a strategic partnership with Italy-based So.Di.Co Group to promote the sales of natural personal care products. The financial terms were not disclosed.
So.Di.Co is an Italian cosmetics, beauty, and wellness producer, having its products through over 1,000 retailers in Europe, the Middle East, and Africa (EMEA) markets.
In addition, the parties will co-develop Original Equipment Manufacturers (OEM) and Original Design Manufacturers (ODM) suppliers in China for So.Di.Co Group's new product development and enhanced production capacity mainly for China market.
Zhiwei Xu, CEO and chairman of Jowell Global, commented, "As a business partner, Jowell Global will leverage its expertise with China's top tier OEM and ODM to assist So.Di.Co Group with its new product development and production capacity."
Under the arrangement, Jowell Global will strengthen So.Di.Co's sales and distribution channels to meet the growing demand from Chinese consumers in the search for safe and environmental-responsible products.
Price Action: JWEL shares are trading lower by 3.77% at $2.04 on the last check Monday.
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