Nova LifeStyle To Expand its Franchise Network in Partnership with Ablejoy, One of China's Largest Franchise Operators
LOS ANGELES, Sept. 25, 2014 /PRNewswire/ -- Nova LifeStyle, Inc. (NASDAQ-GM: NVFY), a U.S.-based fast growing, innovative designer, manufacturer and distributor of modern LifeStyle furniture, today announced the signing of a franchise partnership contract with the Ablejoy Company of China, to provide Nova products to their network of over 200 retail stores. Nova LifeStyle initiated shipping to Ablejoy earlier this month and will continue to supply current and future franchise stores.
"Nova's partnership with Ablejoy is a great opportunity to further expand our avenues for the fastest growing markets in China and gain wider exposure for our brands," commented Jeffrey Wong, CEO, Co-Founder of Nova LifeStyle, Inc., "We remain focused on our efforts to expand our sales and distribution globally and improve our overall profitability. We believe this, and the other recently announced new relationships, will continue to be positive contributions to both our sales and profitability in the current fiscal year and beyond."
Ablejoy is based in Suzhou City in Jiangsu Province and is one of the largest franchise operators in China. Founded in 1996, Ablejoy prides itself on opening franchise stores for name-brand furniture through its extensive franchisee network and strong capital resources, offering well-known name-brand furniture in all its stores and employs a "Customers First" philosophy. With its initial stores based in Jiangsu Province, Ablejoy is also expanding into Shanghai and other neighboring markets.
"I am very excited with these new developments. By building new and stronger business relationships in this sector of the industry, we continue to see results with our major growth initiatives in China," stated Tawny Lam, President of Nova LifeStyle, Inc., "Joining forces with solid and reputable companies such as Ablejoy to expand Nova's reputation and reach via Ablejoy's network of retail franchises as well as opening additional franchise stores for Nova in prime locations represents a great accomplishment."
About Nova LifeStyle, Inc.
Nova LifeStyle, Inc., a NASDAQ Global Markets Exchange listed company headquartered in California, is a fast growing, innovative designer, manufacturer and distributor of modern LifeStyle furniture; primarily sofas, dining rooms, cabinets, office furniture and related components, bedrooms, and various accessories in matching collections. Nova's products are made in the US, Europe, and Asia and include LifeStyle brands such as Diamond Sofa, Colorful World, Giorgio Mobili, Nova QwiK, and Bright Swallow International. Nova's products feature urban contemporary styles that integrate comfort and functionality incorporating upscale luxury designs appealing to LifeStyle-conscious middle and upper middle-income consumers in the U.S., China, Europe, and elsewhere in the world. To learn more about Nova LifeStyle, Inc., please visit our website at www.NovaLifeStyle.com.
Safe Harbor Statement
All statements in this press release that are not historical are forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the company's expectations. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect Nova's current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in Nova's filings with the Securities and Exchange Commission.
Investor Contact:
KCSA Strategic Communication
Julie Silber
Tel: (310) 766-9760
[email protected]
SOURCE Nova LifeStyle, Inc.
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