LOS ANGELES, July 28, 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 key milestones in the progress on its e-commerce and digital initiatives.
These developments include:
- Securing letters of intent from over 100 quality furniture brands, signaling their intention to make their brands and products available on Nova LifeStyle's dedicated e-commerce website, which will exclusively offer furniture and home furnishings. In April, 2014, Nova LifeStyle had announced that it had commenced development of its e-commerce platform designed to capitalize on a growing middle class and the rapidly growing online demand for furniture and home furnishings in China.
- The announcement that Nova LifeStyle plans to launch a new Mobile Device Application in the fourth quarter of fiscal 2014. The mobile app will provide China-based consumers and the Company's China-based franchisees with a new digital and user-friendly way to complete transactions. Consumers will also be able to download the app and review Nova LifeStyle products from home.
Tawny Lam, President of Nova LifeStyle, Inc., commented, "We are very pleased with the progress we are making on our e-commerce and digital initiatives. These letters of intent are a strong endorsement of the opportunity of our e-commerce platform to become a one-stop furniture and home furnishings shopping destination for consumers in China. Additionally, the launch of our mobile app will satisfy the demand of consumers in China to shop how, when and where they want. We believe that, once completed, both our e-commerce platform and mobile app will drive incremental sales for us in China, increasing our penetration and share of that market, one of our key growth initiatives."
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 and Nova QwiK. 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. The Company distributes its products through subsidiaries Diamond Bar and Bright Swallow International, as well as through third party distributors. 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.
Tel: (310) 954-1113
SOURCE Nova LifeStyle, Inc.