Bambuser to Africa - Enters Pilot Agreement with South African Retailer

STOCKHOLM, June 30, 2020 /PRNewswire/ -- Bambuser has entered into a pilot agreement worth USD 13,000 with one of South Africa's leading retailers and one of the fastest growing retailers in Africa. The agreement concerns Live Video Shopping for one brand in one market during the pilot phase, which lasts for two months.

Bambuser AB has signed a pilot agreement for Live Video Shopping with one of South Africa's leading retailers. The customer in question is an omni-channel fashion value retailer with a total net sales of ZAR 12.525 billion (approx SEK 6.8 billion) for the 2019 financial year.

The agreement gives the customer, who is one of the fastest growing retailers in Africa, the right to use Live Video Shopping for a limited amount of broadcasts at a fixed cost of USD 13,000 (approx SEK 122,000) for one of the Group's brands in one market during the pilot phase, which lasts for two months.

- In late 2019, Bambuser was the first in the world to take the trend of Live Video Shopping outside Asia. In less than eight months, we have succeeded in establishing a foothold in Europe and the US. We are delighted to welcome another market leader and see many fantastic opportunities in the African retail industry, says Maryam Ghahremani, CEO at Bambuser.

This disclosure contains information that Bambuser is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, at 30 June 2020.

Contact information
Maryam Ghahremani, CEO | +46-8-400-160-02 | maryam@bambuser.com
or visit bambuser.com/ir

Certified Adviser
Erik Penser Bank AB | +46-8-463-83-00 | certifiedadviser@penser.se

Bambuser was founded in 2007 as the world's first company with a platform for interactive mobile live video broadcasting and is a leading supplier in the live video segment. In 2019, Bambuser introduced Live Video Shopping, which enables live shopping directly on the brand's website. Bambuser is listed on the Nasdaq First North Growth Market and is headquartered in Stockholm.

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