Home / Knowledge / News / Fashion / FUQI International expands retail jewelry presence
FUQI International expands retail jewelry presence
25
Sep '08
FUQI International Inc announced that it has expanded its retail presence within the Beijing and Shanghai markets.

Two FUQI-branded jewelry counters have opened in two department stores one at the 'Xidan Shopping Mall', the other at the 'Chengxiang Huamao Department Store', which are located among the biggest business and tourist districts in Beijing.

The average size of each store counter ranges from 330-550 square feet. Approximately 2,000-2,500 SKU's will be available for sale at each counter on a monthly basis. Another two FUQI-branded jewelry counters are expected to open in Beijing in September and November 2008, respectively.

The Company has also opened one Temix jewelry counter at a 'Department Store of Articles for Women', a wholly-owned subsidiary of Shanghai Hualian Supermarket Corporation, located at the Huaihai Zhong Road in Shanghai which is a central shopping destination.

Three additional Temix jewelry counters are expected to open- the first at the 'City Center Shopping Mall' in the Changning District, Shanghai; the second at the 'Blue Island Mansion Shopping Arcade', Chaoyang District, Beijing in late September 2008; and the third at the 'Chengxiang Trading Center', Haidian District, Beijing in November 2008.

The average size of each store counter will be approximately 440-770 square feet with approximately 1,500-2,000 SKU's available for sale at each counter on a monthly basis.

Mr. Yu Kwai Chong, Chairman of FUQI International commented, "We are pleased to expand our retail brand presence by opening up more jewelry counters in new locations.

Part of our retail strategy is to increase the recognition of both the FUQI and Temix brands in highly desirable locations in premier shopping malls in Tier 1 cities in China, such as Beijing and Shanghai.

The FUQI brand is marketed to a broad group of mid-level income men and women that purchase more traditional gold and platinum jewelry and jewelry gift items while our Temix counters and retail stores represent contemporary, fashionable jewelry designs that appeal to young women.

Temix also has a fashionable diamond business in addition to its wide selection of gold and platinum products. Several of our existing Temix stores will soon be offering fashionable jade jewelry into our product mix to fulfill the style demands of our growing base of female customers.

With these new retail outlets, we now have a total of 60 outlets comprised of 52 store counters and eight retail stores.

Our balance sheet is healthy and our strong cash position allows us to actively evaluate and pursue retail acquisition opportunities in the market.

We remain comfortable with our wholesale and retail growth plan for this year and are focused on strengthening our position as the leading provider of luxury jewelry products in the Chinese market," concluded Chong.

The Company reiterated comfort with its previously announced financial forecast for 3Q08 and FY08. For the third quarter, the Company anticipates total wholesale revenue of approximately $75 - $77 million, which would represent a year-over-year increase of approximately 108% - 114%,respectively.


Must ReadView All

Courtesy: Stone Island

Apparel/Garments | On 25th Jun 2018

Stone Island has mastered ingredient branding: Braind

Italian high-end men's apparel brand Stone Island tops the list of...

Courtesy: Tecnorama

Textiles | On 25th Jun 2018

'Tecnorama automatic dyeing system offers efficiency'

Italy based Tecnorama’s fully-automatic machinery for dispensing...

Courtesy: Lenzing

Textiles | On 25th Jun 2018

Lenzing launches Veocel nonwoven speciality brand

Leading fibre company, the Lenzing Group has unveiled Veocel, the new ...

Interviews View All

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search