LJ International Inc. Opens 110th ENZO Store
August 06 2010 - 10:28AM
Marketwired
LJ International Inc. (LJI) (NASDAQ: JADE), a leading jewelry
manufacturer and retailer, today announced that its ENZO retail
division has opened its 110th store to date. The newest store is
located in the TFF Store, the first and only high-end luxury
shopping mall in Tianjin, China.
To date, nine ENZO stores are currently opened in Tianjin, one
of the largest cities in China with a population of approximately
12.8 million. The TFF Store is ENZO's largest location and will
serve as the Company's flagship space within Tianjin, attracting
both visitors and local consumers in the market for purchasing
luxury merchandise.
"As LJI continues to expand its retail operations throughout
China, a location in the TFF Store adds both presence and prestige
to the ENZO name. ENZO's trademark colored-stoned jewelry caters to
the growing middle class looking for affordable luxury. Being
situated in one of the most well-known, high-end malls enables ENZO
to capitalize on customer traffic from their target market. We are
honored to be located within the TFF Store, as obtaining space in
the mall is valuable to both our brand name and our business,"
stated Yu Chuan Yih, Chairman and CEO of LJ International Inc.
TFF Store is well known as the core store within the Tianjin
Friendship department-store chain. It is considered a landmark
property in the heart of Tianjin's retail district and is known for
its collection of high-end brand retailers, elegant shopping
environment, first-class customer service, and superior management
standards. In 2007, TFF Store began an expansion project that will
increase the property's retail space to approximately 40,000 square
meters.
The TFF Store records annual sales approximating $1.5B (USD) per
year, and has estimated a trajectory to exceed these numbers in
2010. These figures support the trend for continued demand of
luxury items and increased amount of disposable income from Chinese
consumers. Furthermore, TFF Store supports its vendors by driving
customer traffic throughout the year by featuring monthly marketing
themes and sponsoring holidays-specific, retail-related
activities.
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 contains "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,"
"believes," "estimates," "projects," "expects" and similar
references to future periods. Examples of forward-looking
statements include, but are not limited to, statements we make
regarding ENZO stores expansion plan. The foregoing is not an
exclusive list of all forward-looking statements we make.
Forward-looking statements are based on our current expectations
and assumptions regarding our business, the global 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. Important factors that could cause
actual results to differ materially from those in the
forward-looking statements include global political, economic,
business, competitive, market and regulatory conditions and the
following: the current global financial crisis and economic
conditions; changes in consumer spending patterns and consumer
preferences; the effects of political and economic events and
conditions in the U.S., China and worldwide; the impact of
competition and pricing; market price of key raw materials;
political instability; currency and exchange risks and changes in
existing or potential duties, tariffs or quotas; availability of
attractive store locations; our ability to develop new merchandise;
and our ability to hire, train and retain associates. The risk
factors that are presented in Item 3.D. of our Report on Form 20-F
for the fiscal year ended December 31, 2009, as well as the
disclosures contained in our other public filings which we have
filed 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. Factors or events
that could cause our actual results to differ may emerge from time
to time, and it is not possible for us to predict all of them. We
undertake no obligation to publicly update any forward-looking
statement, whether as a result of new information, future
developments or otherwise, 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/Mr.
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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