Overstock.com's Worldstock Department Returns $50 Million to Artisans Around the World

SALT LAKE CITY, April 5 /PRNewswire-FirstCall/ -- Worldstock, Overstock.com's, Inc. (Nasdaq: OSTK) socially responsible department for handcrafted products created by artisans from developing nations and in rural areas of the United States, today crossed the $50 million mark in payments made to artisans and the groups that represent them. Worldstock currently features merchandise from Bali, China, Colombia, Ghana, Guatemala, India, Indonesia, Israel, Mexico, Morocco, Nepal, Pakistan, Peru, Tibet, Thailand, Tunisia, the United States, and Vietnam, to name a few. To visit the Worldstock store visit www.overstock.com/Worldstock/6/store.html

Overstock.com CEO Patrick Byrne created Worldstock in 2001 to provide artisans in the world's poorest regions with opportunities to sell their unique creations to a wider variety of customers. Worldstock's goal is to create jobs for tens of thousands of people throughout the world, enabling them to help themselves, their communities and their countries. These handcrafted products include such items as furniture, jewelry and clothing. To learn more about the Worldstock story visit www.overstock.com/1328/static.html

"Worldstock provides employment opportunities in our society," said 45-year-old father of two Dipak Tuladhar from Nepal. "Due to Worldstock's continuous orders, our artisans are able to improve their lives. The money we make from Worldstock's support helps us pay for our daily needs and education for our children."

Worldstock distinguishes itself from its competitors because it returns between 60 percent and 70 percent of the sales price to its suppliers - typically impoverished or handicapped artisans, co-ops of such artisans, or groups working with such artisans. Worldstock posts background stories about the artisans next to many of the items it offers for sale, and its merchandise is always handmade. The artisans' workshops are typically small and generally employ fewer than 20 people.  

"Many artisans create attractive merchandise but lack capital to advertise or set up supply chains into the United States. Overstock.com allows these artists to take advantage of the supply chains that we already built," Byrne said. "Worldstock emphasizes sustainability, fairness, and transparency while empowering artisans.

"The artisans generally receive significantly more for their work by selling to us, and invest that extra income back into their businesses, without having to sacrifice the quality of their merchandise," added Worldstock Director Angela Ramirez.

A ticker on the Overstock.com web site shows customers how much has been given back to Worldstock artisans. To view the ticker, visit www.overstock.com/Worldstock/6/store.html. The ticker is updated weekly.

Interviews with artisans are welcomed. To schedule one, please contact Roger Johnson at (801) 947-4430.

About Overstock.com

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."

Overstock.com® is a registered trademark of Overstock.com, Inc.

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 regarding the number and specific countries that have Worldstock artisans, the number of artisan jobs to be created by Worldstock, the types of Worldstock products, and the amount of the sale price paid to the artisans. Our Form 10-K for the year ended December 31, 2009, 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.

SOURCE Overstock.com, Inc.