Business
Farmmi Receives 3-year License to Use Lishui Shangeng Collective Trademark and Right to Use Lishui Agricultural Product Traceability Platform
LISHUI, China, April 23, 2019 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today
About this update from Farmmi, Inc. Ordinary Shares
[{"type":"text","content":"LISHUI, China, April 23, 2019 /PRNewswire/ -- Farmmi, Inc. (\"Farmmi\" or the \"Company\") (NASDAQ: FAMI), an agriculture products supplier in China, today announced that through its wholly owned subsidiary Zhejiang Farmmi Food Co., Ltd. (\"Farmmi Food\"), the Company entered an agreement with the Lishui Ecological Agriculture Association (the \"Association\"), which authorized Farmmi Food to use the Lishui Shangeng collective trademark (\"Lishui Shangeng\") on the packages of its dried Shiitake mushroom and black Mu Er products and marketing materials. Farmmi Food concurrently became a member of the Association and entered an agreement with Lishui Agricultural Investment Development Company, which authorized Farmmi Food to use its Lishui agricultural product quality safety traceability platform (the \"Traceability Platform\"). Both Agreements are renewable before the April 16, 2022 expiration under mutual agreement. \nLishui Shangeng is a comprehensive, regional brand covering all categories and industries of agricultural products in Lishui, Zhejiang and is owned by the Association. The cumulative sales of products from September 2014 to December 2018 under Lishui Shangeng was RMB 12.32 billion (approximately US$1.84 billion), with products sold in more than 20 provinces and cities, including Beijing, Shanghai and Shenzhen. At the end of 2018, Lishui Shangeng covered 863 member enterprises, 1,122 cooperative bases, more than 1,000 brand endorsement agricultural products, and more than 600 designs of agricultural products packaging.\nThe Traceability Platform was commissioned by the Lishui' municipal committee and government to empower consumers to monitor the quality and safety of agricultural products from farm to table. It has four management systems: production, supervision, detection and information services. Consumers can scan a two-dimensional code on the package for detailed product information. The supervising governmental agency can enter the same code in the relevant management system to get the management information.\nYefang Zhang, Farmmi's Chairwoman and CEO, stated, \"We are pleased to have the full confidence of the Lishui Ecological Agriculture Association. We share in our commitment to providing consumers with the highest quality from farm to table and will seek to maintain a close, mutually beneficial relation...