Color Star Technology Co., Ltd. (NASDAQ: HHT), a company engaged in the business of providing education services, today announced that its wholly owned subsidiary, Color China Entertainment Limited (“Color China”) has signed a Cooperation Framework Agreement with Hong Kong’s renowned tourbillon watch brand Memorigin. We plan on jointly designing, producing and selling customized watches themed after our Star Teachers as part of the peripheral products which we plan on selling exclusively on Color World, our developing online education platform.
Memorigin is a brand owned by Memorigin Watch Co., Ltd., and is the first watch brand in Hong Kong to produce only tourbillon watches. Memorigin’s watches feature the merging of oriental sculpting techniques with the western art of watchmaking, creating tourbillon watches with a strong Hong Kong cultural character and is a blend of oriental and western cultures. Memorigin tourbillon watches have been certified as world class quality in time accuracy and water poof tests by Mr. Ogawa Satoshi Yukari of Watch Repair Master, a famous watch repair center in Osaka, Japan. The high quality to price ratio of Memorigin tourbillon watches has greatly strengthened its market penetration capabilities. The brand’s Chinese name “Wan Xi Quan” refers to “the source of hope for all people.” The English name “Memorigin” is a combination of two words, memory and original, symbolizing that their tourbillon watches not only record time, but also witnesses the significant moments in one’s life, celebrating and memorizing the everlasting memories.
The cooperation between Color Star and Memorigin serves as a prelude to the sales of other high-end peripheral products on Color World. Color World will not only excel in online education, but also serve as a convenient platform for celebrity peripheral products. The establishment of this segment on our platform also differentiates it from the traditional online education model of teaching. Biao (Luke) Lu, CEO of Color Star, said, “In the future, we plan on cooperating with more top brands and independent designers around the world to launch peripheral products exclusively for the Star Teachers of Color World, so that their fans around the world will have a bigger variety of purchase options.”
The planned cooperation between Color World and other top brands will also complete our platform, as we believe that consumers around the world will visit our peripheral product shops to purchase their favorite idols’ products. We plan to also include intellectual property such as song and movie script made available for purchase on the sales platform of Color World so that more musicians, producers, filmmakers and others in the entertainment industry can generate profits with us on our platform.
About Color Star Technology Co., Ltd.
Color Star Technology is a holding company whose primary business is offering both online and offline innovative education services. Its business operations are conducted through its wholly-owned subsidiaries Color China Entertainment Ltd. and CACM Group NY, Inc. The Company also anticipates providing an after-school tutoring program in New York via its joint venture entity Baytao LLC, and providing online music and entertainment education via a platform branded “Color World.”