LJ International Reports Strong Interest From JCK Las Vegas Trade Show
23 July 2010 - 1:27AM
Marketwired
LJ International, Inc. (LJI) (NASDAQ: JADE),
a leading jewelry manufacturer and retailer, today reported the
successful introduction of its 2011-2012 jewelry line at the recent
JCK Las Vegas trade show (June 4-7, 2010). The show is one of the
world's most important business-to-business buying and selling
opportunities for the jewelry industry. To date, LJI has already
booked over $7 million in orders from US customers from the event.
Orders include over 60,000 pieces -- approximately $3 million
for gold and silver pieces from the largest jewelry chain store in
the US, and nearly $4.4 million for gold jewelry from the
membership discount store chain of the largest US retailer.
In total, LJI expects to book approximately $20 million in sales
from JCK Las Vegas, with most of the revenue booked by the end of
2010. JCK-based orders historically make up about 40% of LJI's
overall wholesale revenues in a given year.
During the JCK show, LJI met with 34 retail partners,
representing the Company's entire non-European customer base for
its wholesale division.
The expected $20 million in total revenues from JCK orders in
2010 is closely comparable to amounts recorded by LJI before the
global economic downturn that began late in 2007. In 2006, orders
from JCK Las Vegas totaled approximately $22 million, up from $20
million in 2005 and $17 million in 2004.
This year, LJI's presentation to retailers featured its new
collections for 2011 and 2012, which consists of approximately 100
new pieces using colored gemstones in contemporary designs. With
most of the pieces priced between $100 and $200, the collections
follow the "affordable luxury" strategy that has helped boost LJI's
sales growth in recent quarters.
"We are pleased to report an enthusiastic reception by our
retail partners for our new jewelry line," said LJI Chairman and
CEO Yu Chuan Yih. "It has been encouraging to see JCK orders return
to near pre-recession levels. The stimulus in our North American
wholesale market, coupled with our positive initiatives in the
retail business, are encouraging trends in our business."
About LJ International, Inc. LJ
International, Inc. (LJI) (NASDAQ: JADE) is engaged in the
designing, branding, marketing and distribution of its full range
of jewelry. It has built its global business on a vertical
integration strategy, and an unwavering commitment to quality and
service. Through its China-based ENZO retail chain stores, LJI is
now a major presence in China's fast-growing retail jewelry market.
As a wholesaler, it distributes to fine jewelers, department
stores, national jewelry chains and electronic and specialty
retailers throughout North America and Western Europe. Its product
lines incorporate all major categories, including earrings,
necklaces, pendants, rings and bracelets. For more information on
the Company, visit the Company's website at www.ljintl.com.
Cautionary Note Regarding Forward-Looking
Statements: This press release may contain "forward-looking
statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements can be
identified by words such as "anticipates," "intends," "plans,"
"seeks," "believes," "estimates," "expects" and similar references
to future periods. Forward-looking statements are based on our
current expectations and assumptions regarding our business, the
economy and other future conditions. Because forward-looking
statements relate to the future, they are subject to inherent
uncertainties, risks and changes in circumstances that are
difficult to predict. Our actual results may differ materially from
those contemplated by the forward-looking statements. They are
neither statements of historical fact nor guarantees or assurances
of future performance. We caution you therefore against relying on
any of these forward-looking statements. Factors that could cause
actual results to differ materially from such statements, as well
as additional risk factors, are detailed in the Company's most
recent filings with the Securities and Exchange Commission. Any
forward-looking statement made by us in this press release speaks
only as of the date on which it is made. We undertake no obligation
to publicly update any forward-looking information contained in
this press release or with respect to the announcements described
herein, except as may be required by law.
Contacts Corporate: Mr. Ringo Ng Chief Financial Officer
LJ International Inc. Tel: 011-852-2170-0018 Email Contact
www.ljintl.com Investor Relations: Ms. Jennifer K. Zimmons/ Richard
Cooper Managing Director/Chairman Strategic Growth International,
Inc. Tel: 212-838-1444 Email Contact / Email Contact
www.sgi-ir.com
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