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House of Taylor Jewelry exceeds $30 mn sales target for 2006
10 Jan '07
2 min read
House of Taylor Jewelry Inc reported that following a preliminary review, it expects sales for the year ended December 31, 2006 will exceed the $30 million threshold established in connection with the placement of the company's senior convertible notes and warrants in May 2006. The company recorded sales of $5.6 million for 2005 and exceeded its initial sales threshold of $14 million for the first nine months of 2006.
"The strong sales growth achieved in 2006 reflects increased market penetration and demand for HOTJ's branded jewelry collections and certified loose diamond products from jewelers and distributors in the United States and select international markets," said Jack Abramov, president and chief executive officer of House of Taylor Jewelry.
During the fourth quarter, our diamond program helped us gain traction and ramp up sales of our branded fine jewelry lines, which traditionally carry higher margins. Throughout the year, we focused on building our production, marketing and internal infrastructure to expand sales, based on filling the needs for the most frequently purchased product categories through the independent retail channel.
"We believe that our Elizabeth Taylor and Kathy Ireland jewelry brands provide powerful consumer awareness and a competitive advantage for local retailers in their respective markets," Abramov said. "House of Taylor Jewelry is favorably positioned for further penetration and expansion into existing and new territories as the company grows and demand for the brands continues to increase. We fully expect to achieve further growth and progress as 2007 unfolds."
"The strong sales growth achieved in 2006 reflects increased market penetration and demand for HOTJ's branded jewelry collections and certified loose diamond products from jewelers and distributors in the United States and select international markets," said Jack Abramov, president and chief executive officer of House of Taylor Jewelry.
During the fourth quarter, our diamond program helped us gain traction and ramp up sales of our branded fine jewelry lines, which traditionally carry higher margins. Throughout the year, we focused on building our production, marketing and internal infrastructure to expand sales, based on filling the needs for the most frequently purchased product categories through the independent retail channel.
"We believe that our Elizabeth Taylor and Kathy Ireland jewelry brands provide powerful consumer awareness and a competitive advantage for local retailers in their respective markets," Abramov said. "House of Taylor Jewelry is favorably positioned for further penetration and expansion into existing and new territories as the company grows and demand for the brands continues to increase. We fully expect to achieve further growth and progress as 2007 unfolds."
House of Taylor Jewelry Inc
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