Treasure Global Announces Strategic Brand Partnership For Zstore Affiliate Program Enhancing Its Health and Wellness E-Commerce Solution

Zstore Named Sole Marketing And Selling Platform Of enogy Brand Health and Wellness Products

NEW YORK and KUALA LUMPUR, Malaysia, May 15, 2023 (GLOBE NEWSWIRE) -- Treasure Global Inc (NASDAQ: TGL) (“Treasure Global,” or the “Company”), an innovative technology solutions provider for the F&B industry, today announced an exclusive partnership with enogy, a health and wellness brand, to expand the range of products available on its e-commerce marketplace, Zstore, targeting the large and growing health and wellness industry.

As part of the partnership, enogy products will be exclusively available in the Zstore marketplace within the ZCITY app, a digital entrepreneurship platform. In addition, Treasure Global will promote enogy products to its expanding database of Zmembers, leveraging a combination of conventional and cutting-edge digital marketing strategies to quickly target ZCITY users.

Through ZCITY ‘s AI technology, Treasure Global will customize the app's product offerings to consumers' preferences and spending habits. In addition, the new revenue stream from enogy and other affiliate partner products sold on the ZCITY app will contribute to Treasure Global’s revenue growth and brand presence as it continues to expand throughout Malaysia and beyond.

"Our partnership with enogy will expand the range of health and wellness products available to our customers, broadening the appeal of ZCITY for customers wanting to improve their wellbeing. Furthermore, by aligning with enogy's existing international reach in mainland China and regional expansion plans in Indonesia, South Korea and Japan, it will increase the brand exposure of Zstore and the ZCITY app," said Sam Teo, Chief Executive Officer of Treasure Global. "We believe there is a strong demand for high-quality health and wellness products, and enogy is at the forefront of this market as we continue to grow in Malaysia and beyond. Consumers are increasingly health conscious with the market for vitamins and minerals anticipated to boom rapidly in Malaysia, projected to reach an estimated $193.4 million by 2027¹. Further, it is reported that Asia-Pacific is the world’s largest wellness market at $1.5 trillion which continues to grow with strong momentum². Treasure Global looks forward to expanding its health and wellness offering to keep customers engaged with additional enogy products as well as access to other popular health and wellness brands," concluded Mr Teo.

enogy is available in Hong Kong and mainland China (Shenzhen, Guangzhou and Dongbei) markets, and plans to expand into Indonesia next, the largest economy in Southeast Asia. Moving forward, enogy also plans to enter South Korea and Japan.

enogy's first product to launch on Zstore is the “Mix Blueberry Powder & Astaxanthin”, which results from 10 years of research and development. The health product is formulated as a powerful antioxidant to stimulate immune reactions with blueberries and Astaxanthin, known to be 6,000 times stronger than vitamin C. The superfoods in the health product can help enhance vision, boost immunity, fight ageing, improve skin, and improve overall well-being³.

In addition, enogy will soon release its second product, S3, which is tailored to the needs of the fitness industry. S3 is a cutting-edge product designed to help individuals achieve their fitness goals and lead healthy, active lifestyles. enogy plans to launch S3 in the third quarter of 2023 and will simultaneously promote the product in the Hong Kong and China markets. With this new addition to its product line, enogy is poised to continue its rapid growth and success in the health and wellness sector.

About Treasure Global Inc
Treasure Global is a Malaysian solutions provider developing innovative technology platforms to improve the F&B industry. Treasure Global has developed two technology solutions: the ZCITY App, a unique digital ecosystem that transforms and simplifies the e-payment experience for consumers, while simultaneously allowing them to earn rewards; and TAZTE, a digital F&B management system providing merchants with a one-stop management and automated solution to digitalize their businesses. Treasure Global also acts as a master franchiser in SEA for popular restaurant chains, while providing them with the TAZTE solution. As of March 31, 2023, ZCITY had over 2,400,000 registered users.

For more information, please visit https://treasureglobal.co/

Forward Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are characterized by future or conditional verbs such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate” and “continue” or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s initial public offering filed with the SEC. Copies of these documents are available on the SEC’s website, www.sec.gov. These forward-looking statements cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

For further information, please contact:

U.S. Investor Contact
Allison Soss
KCSA Strategic Communications
ir_us@treasuregroup.co

Malaysian Investor Contacts
ir_my@treasuregroup.co

Media Contact
Sue Chuah, Chief Marketing Officer
Treasure Global Inc
mediacontact@treasuregroup.co

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¹ https://www.statista.com/forecasts/1199315/revenue-vitamins-minerals-malaysia.
² https://globalwellnessinstitute.org/global-wellness-institute-blog/2022/05/17/asias-1-5-trillion-wellness-economy-shrank-least-during-the-pandemic/
³ https://www.thestar.com.my/lifestyle/health/womens-world/2022/06/27/astaxanthin-is-renowned-for-its-powerful-antioxidant-qualities.