LJ International Inc. Opens First Stand-Alone ENZO Store in Cixi
August 23 2010 - 8:00AM
Marketwired
LJ International Inc. (LJI) (NASDAQ: JADE) today announced the
opening of the Company's first ENZO retail stand-alone street
store. The store, with approximately 1,500 square feet of selling
space, is located in Cixi, a third-tier city located in the Yangtze
Delta Region about 90 miles south of Shanghai.
"We are proud to open our first stand-alone store in Cixi,"
stated LJI Chairman and CEO Yu Chuan Yih. "The store opening
represents several significant milestones for ENZO. First, the Cixi
store signifies that ENZO has achieved the ability to 'stand alone'
as an established brand and attract customers independent of
shopping mall support. Secondly, our corporate goal has been to
extend ENZO's reach to customers in second and third-tier cities.
Cixi is a prime example of our target demographic, consumers
looking for the latest trends in fashion and style, and we look
forward to serving them. Finally, the Cixi flagship store serves as
a template for future flagship stores in other cities. We plan to
utilize this experience to further enhance the most profitable
aspects of the Cixi store for future locations as we continue with
our retail growth strategy."
With a growing population of over one million, Cixi residents
are known for their entrepreneurial spirit, disposable income, and
a high level of exposure to Western consumer-driven influences.
They encompass all the aspects of the target ENZO customer,
including a strong sense of style, a taste for "affordable luxury,"
high purchasing power, and pent-up demand for quality goods.
The opening of the Cixi store brings the number of ENZO stores
to a total of 113 locations throughout China.
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 Managing
Director Strategic Growth International, Inc. Tel: 212-838-1444
Email Contact www.sgi-ir.com Mr. Richard E. Cooper Chairman
Strategic Growth International, Inc. Tel: 212-838-1444 Email
Contact www.sgi-ir.com
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