Ever-Glory Announces New LA GO GO Retail Store Openings
February 18 2009 - 7:30AM
PR Newswire (US)
NANJING, China, Feb. 18 /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 seven new retail
LA GO GO stores since January 1, 2009. Ever-Glory designs,
manufactures, and sells clothing in its retail chain store, LA GO
GO, focusing on China's urban youth women's wear market segment.
This target market continues to be the biggest and fastest growing
segment in the Chinese apparel market. The average size of the
seven new stores is approximately 1,000 square feet. The seven new
stores opened up within shopping malls in five different
municipalities and provinces throughout China: Shanghai, Zhejiang,
Fujian, Liaoning, and Sichuan. Mr. Edward Yihua Kang, Chairman and
Chief Executive Officer, commented, "We continue to be very excited
about our LA GO GO stores and our future growth prospects. With the
addition of these seven stores throughout China, we currently
operate 100 LA GO GO retail stores. We are planning on opening
approximately 80-100 LA GO GO stores in 2009 in strategic locations
countrywide. We believe that our clothing styles are resonating
well with consumers and we look forward to furthering our success
this year." 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 (now called NYSE Alternext US), 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 products and projects, the Company's continued access to
capital, currency exchange rate fluctuation 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. Readers should carefully review the risks and
uncertainties described in the Company's latest Annual Report on
Form 10-K and other documents that the Company files from time to
time with the U.S. Securities and Exchange Commission. DATASOURCE:
Ever-Glory International Group, Inc. CONTACT: U.S.: Angel Zhang,
+1-646-385-5222, or Asia: Yan Guo, +86-25-5209-6222, both of
Ever-Glory International Group, Inc.; or Investors, U.S.: Abbie
Gellman, +1-203-682-8200, or Asia: Bill Zima & Annie Chen,
+86-10-6599-7969, all of ICR, Inc., for Ever-Glory International
Group, Inc.
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