Yosen Group Established New York Subsidiary Yosen Trading Inc.
HANGZHOU, China, Jan. 10, 2014 /PRNewswire / -- Yosen Group, Inc. (stock symbol: YOSN) ("Yosen", or "the Company") today announced the establishment of its New York based subsidiary Yosen Trading Inc. ("Yosen Trading"). Yosen Trading will be engaged primarily in international trade and wholesale business. Initially, tile, kitchen cabinet, granite and marble products will be the primary drivers of reaching the New York market.
Last December Yosen updated shareholders of its international expansion strategy and specifically its plan of a new business unit in New York to commence international trade and wholesale business in the overseas market. Yosen intends to leverage its resources in China's renowned commodity wholesale market, China Commodity City in Yiwu, Zhejiang Province, as well as its existing business network in the U.S. The management anticipates the business in New York to be a significant growth area for the Company over the next few years.
Yosen's CEO Mr. Zhenggang Wang commented, "In addition to our continuing commitment to bring the world's best products into China this year, we will be executing our strategy to promote China's most competitive products overseas. Yosen will commence our international trade and wholesale business starting with the tile, kitchen cabinet, granite and marble products in the New York market. We believe this will add very valuable growth to Yosen Group's overall business because of our New York team's long-standing and extensive relationships with many local developers and general contractors. In supporting this, our operating plan includes opening a flagship store in New York City. We will provide further updates for our shareholders over the next few months."
About Yosen Group, Inc.
Yosen Group, Inc. ("Yosen Group", or "Yosen") is an award-winning wholesale distributor and retailer of 3C merchandise: computers, communication products and consumer electronics. The company specializes in wholesale distribution and retail sales of 3C products in Eastern China, focusing on products that make life more comfortable, convenient and connected. With a commitment to provide one-stop shopping convenience for consumers overall, Yosen Group initiated a unique Super Specialty Store model under which Yosen collaborates with, and in some cases, co-brands with China's dominant telecommunication operators including China Telecom, China Unicom and China Mobile, and sells their products and services in designated Yosen stores within mass merchandisers. Yosen Group is headquartered in Hangzhou, Zhejiang Province, the People's Republic of China. Through its U.S. subsidiary, Yosen Trading Inc., the company is strategically positioned to bring the world's best consumer products to China and simultaneously introduce China's most competitive products to the overseas market. The company operates under the Yosen and Wang Da brand names.
For more information, visit http://www.yosn.com/.
Safe Harbor Statement
Certain statements in this press release, constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding the Company's future performance. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the periodic reports that are filed with the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.
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SOURCE Yosen Group, Inc.