LJ International, Inc. (MM) (NASDAQ:JADE)
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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/