Lyfen signs purchase agreements worth $31 million at CIIE

Chinese snacks brand Lyfen signed purchase agreements worth about 200 million yuan ($31.3 million) with five international food companies at the fourth China International Import Expo (CIIE) in Shanghai on Monday.

The agreements signed were with two existing partners - Australia Freedom Foods Group, and South Korean Daesang Corporation – as well as three new ones: South Korea's E-Mart, Singapore's New International Pte Ltd, and Italy's Ferrero Group. The deals will see these partners supply high-quality imported snacks such as chocolates, fruit bars, and drinks.

"We should firmly grasp and rely on the platform of the CIIE to further introduce and expand our range of imported goods, especially in terms of healthy products, and bring more high-quality imported food to domestic consumers," said Shi Yonglei, co-founder and CEO of Lyfen.

"At the same time, we should also pay attention to exports, sell Lyfen's high-quality products overseas, export Chinese food and culture to the world, and realize the concept of 'Chinese Brand, Global Manufacturing, and World Sharing'," Shi added.

Founded in 1999, Lyfen had by the end of 2020 opened more than 3,000 physical stores. This is Lyfen's fourth outing at the CIIE.