Ever-Glory Announces New LA GO GO Retail Store Openings
18 December 2008 - 12:30AM
PR Newswire (US)
NANJING, China, Dec. 17 /PRNewswire-Asia-FirstCall/ -- Ever-Glory
International Group, Inc. (the "Company," "Ever-Glory") (NYSE
Alternext US: EVK), a leading apparel supply chain manager and
retailer in China, today announced the opening of 15 new retail LA
GO GO stores in the past six weeks. LA GO GO sells clothing
designed and manufactured by Ever-Glory and targets the urban youth
women's wear market segment in China. Ladies' wear currently
accounts for the largest and fastest growing segment in the Chinese
apparel market. LA GO GO is dedicated to designing clothing for
women that is at the forefront of fashion styles and trends,
celebrating women and becoming part of their lifestyle. The 15 new
stores opened up in six different provinces throughout China:
Beijing, Shanghai, Chongqing, Sichuan, Henan, and Hunan. Each store
occupies slightly more than 1,000 square feet of space. Mr. Edward
Yihua Kang, Chairman and Chief Executive Officer, commented, "This
is a very exciting time for Ever-Glory. With the addition of these
15 new stores throughout China, we currently operate 83 retail LA
GO GO stores. We plan to open approximately 10 additional new
stores toward the end of the year, spread among seven provinces
throughout China." Mr. Kang concluded, "We continue to focus on
maximizing sales and expanding margin opportunities by opening new
LA GO GO stores in strategic locations and offering high quality
garments in a wide selection of styles and trends. Our new stores
are resonating well with the consumer audience. We remain confident
in our expansion strategy and look forward to furthering our
success in the final quarter of the year and beyond." About
Ever-Glory International Group, Inc. Based in Nanjing, China,
Ever-Glory International Group, Inc. is a leading apparel supply
chain manager and retailer in China. Ever-Glory is the first
Chinese apparel company listed on the American Stock Exchange, and
has a focus on middle-to-high grade casual wear, outerwear, and
sportswear brands. The Company maintains global strategic
partnerships in Europe, the United States, Japan and China,
conducting business with several well-known brands and retail chain
stores. In addition, Ever-Glory operates its own domestic chain of
retail stores known as "LA GO GO." Safe Harbor Statement Certain
statements in this release and other written or oral statements
made by or on behalf of the Company are "forward looking
statements" within the meaning of the federal securities laws.
Statements regarding future events and developments and our future
performance, as well as management's expectations, beliefs, plans,
estimates or projections relating to the future are forward-looking
statements within the meaning of these laws. The forward looking
statements are subject to a number of risks and uncertainties
including market acceptance of the Company's services and projects
and the Company's continued access to capital and other risks and
uncertainties. The actual results the Company achieves may differ
materially from those contemplated by any forward-looking
statements due to such risks and uncertainties. These statements
are based on our current expectations and speak only as of the date
of such statements. DATASOURCE: Ever-Glory International Group,
Inc. CONTACT: In the U.S., Angel Zhang, +1-646-385-5222, or in
Asia, Yan Guo, +86-25-5209-6222, both of Ever-Glory International
Group, Inc.; or Investor Relations, in the U.S., Abbie Gellman,
+1-203-682-8200, or in Asia, Bill Zima & Annie Chen,
+86-10-8523-3087, both of ICR, Inc., for EVK
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