LJ International Announces $1.3 Million Order From Top U.S. Warehouse Club Chain for Colored Stones
March 23 2004 - 7:45AM
PR Newswire (US)
LJ International Announces $1.3 Million Order From Top U.S.
Warehouse Club Chain for Colored Stones HONG KONG and LOS ANGELES,
March 23 /PRNewswire-FirstCall/ -- LJ International, Inc. (LJI) one
of the fastest-growing fine jewelry companies in the world, today
announced that it has received a $1.3 million order for
colored-stone jewelry from one of the largest warehouse club chains
in the US. The LJI products will be sold as part of their Spring
Collection, and most of the revenues from the order will be
recognized in the first quarter of 2004, ending March 31, 2004. The
colored-stone products will be sold at the stores throughout the
U.S. LJI Chairman and CEO Yu Chuan Yih commented, 'This major new
order from this customer is significant not only because it builds
on LJI's relationship with the world's largest retailer, but also
because it reflects the Company's ability to market its products in
the warehouse club store environment as well as in more traditional
formats for jewelry sales.In short, this order is another milestone
in LJI's successful effort to grow revenues by selling through new
distribution channels in established geographical markets, as well
as expanding into new regions.' About this Customer The customer is
a $31billion division of the world's largest retailer and is the
largest membership warehouse club in the U.S., with more than 530
clubs serving 46 million members. It focuses on the needs of small
business, with an emphasis on specific business segments, including
convenience stores and retail stores, restaurants/foodservice,
offices, contractors/maintenance and repair, daycare/schools,
churches and religious organizations, beauty salons and barber
shops, motels/bed and breakfasts, and vending companies. This
customer also encourages consumers to become members and enjoy
savings on both personal items and business merchandise with
"crossover" appeal, such as food. About LJ International 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 Chinathrough
stores and e-shopping sites. Its product lines incorporate all
major categories sought by major retailers, including earrings,
necklaces, pendants, rings and bracelets. For more information on
LJI, please visit the Company's 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, changingeconomic 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 more
information, please contact: 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, Vice
President, Corporate Development of LJI, +852-2170-0001, or ; or
Haris Tajyar, Managing Partner of INVESTOR RELATIONS INTL,
+1-818-382-9702, or , for LJI Web Site: http://www.ljintl.com/
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