Yosen Signs Lease In Preparation for First Store Opening In New York City
HANGZHOU, China, Jan. 22, 2014 /PRNewswire/ -- Yosen Group, Inc. (stock symbol: YOSN) ("Yosen", or "the Company") today announced the signing of a five (5) year lease by its U.S. subsidiary, Yosen Trading Inc ("Yosen Trading"), in preparation for opening its first store in New York City. The store location is in Flushing, New York, and occupies an area of approximately 10,000 square feet. Yosen Trading has the right of first refusal to buy out the leased property. This will be Yosen's flagship store for its newly launched international trade and wholesale businesses relating to tile, kitchen cabinet, granite and marble products, primarily.
Flushing is a thriving community with a dense concentration of businesses and residences. The area serves as one of the largest intermodal transportation hubs in New York City with the No. 7 subway train, the Long Island Rail Road and twenty (20) bus routes. According to an evaluation report from The New York City Department of Transportation in January 2012, Flushing ranks as the fourth largest central business district in New York City. The intersection of Main Street and Roosevelt Avenue is the third busiest intersection in New York City, behind only Times and Herald Squares. Yosen's flagship store is only eight (8) minutes away by walking from Flushing's center, the Main Street Subway Station.
Yosen's CEO Mr. Zhenggang Wang commented, "We are thrilled to have the opportunity to open our first store at the prime location in Flushing, New York, and have moved our first step forward to the international market. Establishing international trade and wholesale business is Yosen's imperative strategy of this year. By leveraging our resources in China's renowned Yiwu Commodity City, we are ready to build our international business. Yosen will seek the continuing endorsement from and strategic cooperation with the Yiwu local government after we make more progress. We anticipate completing our New York store's renovation and other preparation work within one month. We will provide more details at that time."
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.