Kraig Biocraft Laboratories Delivers Dragon Silk to Spydasilk Enterprises
Kraig Biocraft Laboratories (KBLB) has announced the delivery of Dragon Silk yarn to Spydasilk Enterprises, a joint venture with Kings Golden Harvest. This collaboration aims to leverage the unique properties of spider silk for luxury streetwear and apparel. Spydasilk plans to transform Dragon Silk into premium fabrics for direct sales and retail distribution. The initial shipment will help develop the first product line, enhancing the Spydasilk brand. A formal launch of the Spydasilk website is anticipated soon, indicating a move towards commercialization.
- Establishment of a joint venture with Kings Golden Harvest to capitalize on luxury apparel market.
- First delivery of Dragon Silk yarn expected to lead to product development and sales opportunities.
- Direct-to-consumer sales channel anticipated to boost brand presence and revenue.
- Dependence on initial product development success for future sales.
- Commercialization risks associated with new product launches.
ANN ARBOR, Mich., Feb. 10, 2022 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) ("Company" or "Kraig Labs"), the biotechnology company focused on the development and commercialization of spider silk, announces the delivery of Dragon Silk yarn to Spydasilk Enterprises ("Spydasilk"). Spydasilk is a Singapore-based joint venture between Kings Golden Harvest ("Kings") and Kraig Labs focused on the commercial sale of luxury streetwear and apparel derived from spider silk.
Spydasilk will process the Company's recombinant spider silk yarn, trade named Dragon Silk, into premium fabrics and garments. Spydasilk expects to make these products available through a combination of direct sales and traditional retail channels.
"Our partnership with Kings and the Spydasilk brand gives us a very exciting direct-to-consumer sales channel," said Jon Rice, COO of Kraig Labs. "This first small shipment of Dragon Silk will be used to develop the first fabrics in the Spydasilk family of products. Our unique and proprietary spider silk technology paired with Kings branding and marketing expertise should elevate the Spydasilk brand and create sales opportunities for the Company."
"We are thrilled with the arrival of the Dragon Silk samples in Singapore. This will unfold the progressive plan to work with many big brands with this material that is both associated with modern science as well as sustainable. The counterparties involved are excited to push out the concepts that were in the pipeline since the beginning of the discussions," said Spydasilk and Kings Group marketing director, Dai Jiajun.
In the coming weeks, the Company expects to be ready to formally launch the Spydasilk website and brand.
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About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a fully reporting biotechnology company, is a developer of genetically engineered spider silk based fiber technologies.
Cautionary Statement Regarding Forward Looking Information
Statements in this press release about the Company's future and expectations other than historical facts are "forward-looking statements." These statements are made on the basis of management's current views and assumptions. As a result, there can be no assurance that management's expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as "believes,” "plans,” "expects,” "anticipates,” "foresees,” "estimated,” "hopes,” "if,” "develops,” "researching,” "research,” "pilot,” "potential,” "could" or other words or phrases of similar import. Forward looking statements include descriptions of the Company's business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.
Ben Hansel, Hansel Capital, LLC
(720) 288-8495
ir@KraigLabs.com
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