LOS ANGELES, Aug. 3 /PRNewswire-FirstCall/ -- Overstock.com (Nasdaq: OSTK) announced today that it will launch celebrity designer Angelo Surmelis' new affordable, high-concept furniture line "Modern Classics" by angelo:HOME on August 3, 2009. The initial launch will consist of eighteen (18) pieces, including: upholstered chairs, love seats, sofas and ottomans, with prices ranging from $249 - $699.
"Growing up in a family that had great style, but little money, I quickly discovered that personal style is less about what you spend and more about how you spend it," remarked Angelo Surmelis. "Now, having the opportunity to create my own line is an absolute dream come true. I've been sketching and hand making things since I was 5, and to be able to bring affordable, stylish and very personal pieces to you is the dream realized. I'm very proud to say, welcome to angelo:HOME!"
'We are very excited to partner with Angelo and bring his unique style and design to our customers," said Lani Murakami, Overstock.com Director of Home and Garden. "Angelo demonstrates through his many television appearances and featured designs, the true meaning of design for all. Overstock.com strives to bring unique, high quality products at amazing prices to our customers and we feel this partnership is right in line with that goal."
The Modern Classics line by angelo:HOME is a collection of affordable furniture pieces that draw upon traditional style, with a fresh, modern feel. All pieces are designed by Surmelis, and follow his belief that great style should not be compromised simply because of budget, and the Modern Classics line by angelo:HOME speaks to that.
In addition to the style and durability, a strength of the angelo:HOME product line is that they compress packaging, using less fossil fuels in delivery and shipping. They can also demonstrate a savings of up to 10 gallons of diesel fuel for each item, and have reduced the amount of polyurethane foam by over 70% by using pocket coils manufactured from recycled steel. In addition, angelo:HOME products do not use any polystyrene products in packaging.
Angelo Surmelis has been designing furniture for private clients for more than 15 years. He owns one of Los Angeles' top design firms, angelo:HOME (formerly known as Swell-Space), where he has worked for some of the biggest names in Hollywood. Surmelis has launched four television design shows, including "Merge" for Lifetime, "Clean Sweep" for TLC, as well as "24 Hour Design" and "Rate My Space with Angelo Surmelis" for HGTV, and has appeared on "My Celebrity Home" for the Style Network, The Tyra Banks Show and CNN among others.
angelo:HOME's producing partner, Handy Living, is a member of the Sustainable Furniture Council. They are at the forefront of the industry, manufacturing furniture that can ship via UPS and deliver to every doorstep in the USA. With world class product development, customer service and supply chain capabilities, Handy Living serves many of the largest retailers in the world. The company produces well built ready-to-assemble furniture that contains elements of fine furniture such as eight-way hand-tied and pocket coil construction. By combining craftsmanship with innovative function, Handy Living has created a new category in the furniture industry.
Overstock.com, Inc. is an online retailer offering brand-name merchandise at discount prices. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com. Overstock.com regularly posts information about the company and other related matters on its website under the heading "Investor Relations."
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This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, statements, ecological benefits or features of the products discussed, representations regarding quality or product pricing. Our Form 10-K/A for the year ended December 31, 2007, our subsequent quarterly reports on Form 10-Q, or any amendments thereto, and our other subsequent filings with the Securities and Exchange Commission identify important factors that could cause our actual results to differ materially from those contained in our projections, estimates or forward-looking statements.