LJ International Reports $1.7 Million Order From Major U.S. Jewelry Chain
25 August 2004 - 12:15AM
PR Newswire (US)
LJ International Reports $1.7 Million Order From Major U.S. Jewelry
Chain HONG KONG and LOS ANGELES, Calif., Aug. 24
/Xinhua-PRNewswire-FirstCall/ -- LJ International, Inc. (LJI)
(NASDAQ:JADE), one of the fastest-growing fine jewelry companies in
the world, today said it has received an order of about $1.7
million from one of the leading retail jewelry chains in the U.S.
Revenue from the order will be realized during the second half of
2004. The retailer, unnamed in this release for competitive
reasons, is among one of the largest jewelry retail chains in the
U.S. market, with over 2,000 stores nationwide. The announcement of
this order follows an earlier announcement by LJI that it had just
begun a national rollout of products at the chain's stores after a
successful test-marketing of its products in no more than 50 of the
chain's stores. 'This significant order reflects LJI's continued
success at achieving sales growth in older, more mature markets
such as North America,' said LJI Chairman and CEO Yu Chuan Yih.
'The new products that we test-marketed in this retailer's stores
were extremely well-received, and we believe we can get a similar
response from consumers throughout the U.S. market as they are
exposed to the latest from LJI. In this way, we expect to continue
gaining new U.S. customers as well as increasing sales to existing
ones.' Global Sales Expansion Continues LJI products are sold in
major U.S. department stores as well as two- thirds of the 40
largest jewelry chain stores. The Company also sells to the three
largest home-shopping TV networks in the U.S., as well as in
Europe, Japan and Australia. It is expanding both in the U.S. and
overseas, selling to the two largest retailers in the world as well
as through a new network of its own stores in China. If you would
like to be added to LJI's investor email lists, please contact
Haris Tajyar with Investor Relations International at . About LJI
LJ International, Inc. (LJI) is a publicly-owned company, based in
Hong Kong and the U.S., engaged in designing, branding, marketing
and distributing a full range of fine jewelry. It has built its
global business, currently one of the fastest-growing in the
jewelry industry, on a vertical integration strategy and an
unwavering commitment to quality and service. LJI distributes to
fine jewelers, department stores, national jewelry chains and
electronic and specialty retailers throughout North America and
Western Europe, with a growing retail presence in China through
stores and e-shopping sites. Its product lines incorporate all
major categories sought by major retailers, including earrings,
necklaces, pendants, rings and bracelets. It trades on the NASDAQ
National Market under the symbol JADE. For more information on LJI,
go to its Web site at http://www.ljintl.com/ . Forward looking
statement: Except for the historical information, the matters
discussed in this news release may contain forward-looking
statements, including, but not limited to, factors relating to
future sales. These forward-looking statements may involve a number
of risks and uncertainties. Actual results may vary significantly
based on a number of factors, including, but not limited to,
uncertainties in product demand, the impact of competitive products
and pricing, changing economic conditions around the world, release
and sales of new products and other risk factors detailed in the
company's most recent annual report and other filings with the
Securities and Exchange Commission. For further information: AT
LJI: Betty Ho, Vice President, Corporate Development Tel:
+852-2170-0001 Email: AT INVESTOR RELATIONS INTL: Haris Tajyar,
Managing Partner Tel: +1-818-382-9702 Email: DATASOURCE: LJ
International, Inc. CONTACT: Betty Ho of LJI, +852-2170-0001, or ;
or Haris Tajyar of Investor Relations International,
+1-818-382-9702, or , for LJI Web Site: http://www.ljintl.com/
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