LJ International, Inc. (MM) (NASDAQ:JADE)
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LJ International Continues China Expansion As Vendor Of
Hypermarket Giant Carrefour
HONG KONG and LOS ANGELES, May 6 /Xinhua-PRNewswire-FirstCall/ -- LJ
International, Inc. one of the fastest-growing fine jewelry companies in the
world, today announced that it has begun selling jewelry featuring colored
stones in China under a new strategic vendor contract with global retailer
Carrefour.
Carrefour is the second largest retailer in the world and the operator of 35
giant 'hypermarkets' in China. Under the new vendor agreement, LJI began
selling its jewelry products in February 2004 at the Carrefour hypermarket in
Shanghai. The LJI-Carrefour contract makes LJI one of two exclusive jewelry
suppliers to the retail chain in China.
'We're pleased to report that the initial sell-through of our products at
Carrefour has exceeded our internal expectations, and that our colored stones
are popular with Carrefour shoppers,' said Yu Chuan Yih, Chairman and CEO of
LJ International. 'Carrefour has long specialized in these jewelry lines, but
the China retail market is a relatively new area of focus for selling such
products. As a major, well-established retailer with a strong following among
affluent Chinese customers, Carrefour is the ideal partner for us as we move
aggressively into the large and growing Chinese market. Also, by demonstrating
strong sales in Carrefour's hypermarket format, LJI is able to offer itself
more effectively as a vendor to other companies that use a similar retailing
model.'
The start of LJI sales through Carrefour is the latest in several recently
announced moves by the Company to carry out its growth strategy in China. In
January 2004, LJI reported that it has received approval from China's
government to expand its presence in the Chinese jewelry market. It also
announced the opening of its first showroom in Hong Kong's jewelry district,
and it is proceeding with plans to market its Lorenzo brand of upscale jewelry
through franchises and e-Motion online-sales kiosks throughout China.
If you would like to be added to LJI's investor email lists, please contact
Haris Tajyar with Investor Relations International at .
About Carrefour
French-based Carrefour operates more than 9,500 stores in 30 countries in
Europe, Latin America and Asia, in a wide range of retail types including
hypermarkets, supermarkets, discount stores and convenience stores. It had net
sales of $70.5 billion Euros (US$87 billion) in 2003, making it the world's
second largest retailer as well as the largest retailer in Europe. It has a
retailing presence in 15 of China's 17 largest cities.
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 China through 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, changing economic 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.
CONTACT:
Betty Ho, Vice President, Corporate Development,
LJ International Inc.
Tel: +852-2170-0001
Email:
Haris Tajyar, Managing Partner,
INVESTOR RELATIONS INTL
Tel: +1-818-382-9702
Email:
CONTACT: Betty Ho, Vice President, Corporate Development at LJI,
+852-2170-0001, or betty@ljintl.com; or Haris Tajyar, Managing Partner of
INVESTOR RELATIONS INTL, +1-818-382-9702, or htajyar@irintl.com
DATASOURCE: LJ International Inc.
Web Site: http://www.ljintl.com/