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House of Taylor achieves operating profit for Q4 2006
17 Apr '07
3 min read
House of Taylor Jewelry Inc (HOTJ) reported a sharp increase in 2006 fourth- quarter and full-year sales, as the company continued to build its infrastructure and establish a solid foundation for growth.
For the 2006 fourth quarter, net sales increased more than six-fold to $15.9 million from $2.5 million in the same period a year ago and were up from $12 million in the immediately preceding third quarter. For the full year, net sales grew to $31.8 million from $5.6 million in the prior-year.
"2006 was a year in which we further enhanced and broadened our infrastructure and achieved a number of important milestones in the launch of House of Taylor Jewelry as a preeminent global branded jewelry company," said Jack Abramov, president and chief executive officer. "Our solid progress in achieving strong sales momentum throughout the year has positioned the company as a competitive and reliable source of branded jewelry products and loose diamonds."
"During the past year, we focused on establishing a sales force backed by an internal service and call center. We successfully launched several key sales initiatives to independents, including Kathy Ireland Diamond Essentials and our loose diamond program, that are already contributing to the growth of the company," Abramov said.
"We also completed television and radio commercials, packaging, marketing materials, new ads and point-of-purchase store displays for jewelry retailers to capitalize on thepowerful consumer awareness of our brands, and we added important new sourcing relationships with major global suppliers."
For the 2006 fourth quarter, net sales increased more than six-fold to $15.9 million from $2.5 million in the same period a year ago and were up from $12 million in the immediately preceding third quarter. For the full year, net sales grew to $31.8 million from $5.6 million in the prior-year.
"2006 was a year in which we further enhanced and broadened our infrastructure and achieved a number of important milestones in the launch of House of Taylor Jewelry as a preeminent global branded jewelry company," said Jack Abramov, president and chief executive officer. "Our solid progress in achieving strong sales momentum throughout the year has positioned the company as a competitive and reliable source of branded jewelry products and loose diamonds."
"During the past year, we focused on establishing a sales force backed by an internal service and call center. We successfully launched several key sales initiatives to independents, including Kathy Ireland Diamond Essentials and our loose diamond program, that are already contributing to the growth of the company," Abramov said.
"We also completed television and radio commercials, packaging, marketing materials, new ads and point-of-purchase store displays for jewelry retailers to capitalize on thepowerful consumer awareness of our brands, and we added important new sourcing relationships with major global suppliers."
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