# KBS Fashion Group signs letter of intent to acquire Tribe Wearables

KBS Fashion Group Ltd. executed a non-binding Letter of Intent to acquire Tribe Wearables, a smart clothing technology company in Komotini, Greece. KBS will first acquire 20% equity based on a $5 million pre-money valuation, with an option to acquire additional interests.

- Type: Acquisition
- Announced: 2019-02-19
- Where: Komotini, Greece, Greece
- Value: $5.00M
- Status: announced
- Products: smart clothing
- Sectors: [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md)

## Companies

- [KBS Fashion Group](https://endata.com/companies/37446.md) (acquirer)
- [Tribe Wearables](https://endata.com/companies/37447.md) (target)

## Sources

- [textileworld.com](https://www.textileworld.com/textile-world/knitting-apparel/2019/02/kbs-fashion-group-announces-letter-of-intent-to-acquire-tribe-wearables-a-private-smart-clothing-technology-company-located-in-greece/), 2019-02-19: "We are very excited to invest in Tribe, one of the most innovative smart clothing technology companies internationally."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.