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Elegant Illusions reports Nov 2006 revenues increase
23 Dec '06
2 min read
Elegant Illusions Inc announced that total revenues for November 2006 were approximately 3% up from total revenues for November 2005. Same-store revenues for November 2006 were up approximately 10% up from November 2005.
The store on Bourbon St., located in New Orleans, reopened for business in the beginning of December 2005 and is generating approximately 50% of pre-Katrina revenues. The Riverwalk location in New Orleans remains closed. The loss of sales from these stores has had a major impact on same-store and Company-wide revenues for the period.
The Company closed its St. Croix stores in August and anticipates two more store closures in the first quarter of 2007.
"The Company has nearly completed a three-year consolidation and is now ready for growth," said James Cardinal, CEO of Elegant Illusions, Inc. "We are currently identifying new store locations that fit our revamped model. Our product is now fitted for the discretionary dollars of the upper-middle and the upper class."
The Company believes its level of design and quality of workmanship can compare to Tiffany and Cartier and offer the opportunity to mix and match the finest natural gems from these houses with Elegant Illusions created gem jewelry.
The Company plans major advertising coverage in the second quarter of 2007 for its new line of Platinique, a platinum over silver jewelry line that it believes is the finest quality available.
The trademarked name, Platinique, more describes the product than any name for similar products in the country. The Company plans to introduce this line in Europe in the second half of 2007.
The store on Bourbon St., located in New Orleans, reopened for business in the beginning of December 2005 and is generating approximately 50% of pre-Katrina revenues. The Riverwalk location in New Orleans remains closed. The loss of sales from these stores has had a major impact on same-store and Company-wide revenues for the period.
The Company closed its St. Croix stores in August and anticipates two more store closures in the first quarter of 2007.
"The Company has nearly completed a three-year consolidation and is now ready for growth," said James Cardinal, CEO of Elegant Illusions, Inc. "We are currently identifying new store locations that fit our revamped model. Our product is now fitted for the discretionary dollars of the upper-middle and the upper class."
The Company believes its level of design and quality of workmanship can compare to Tiffany and Cartier and offer the opportunity to mix and match the finest natural gems from these houses with Elegant Illusions created gem jewelry.
The Company plans major advertising coverage in the second quarter of 2007 for its new line of Platinique, a platinum over silver jewelry line that it believes is the finest quality available.
The trademarked name, Platinique, more describes the product than any name for similar products in the country. The Company plans to introduce this line in Europe in the second half of 2007.
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