Jewelry retailer LJI to open store in Macau

07 Sep '06

3 min read

LJ International Inc (LJI) one of the fastest-growing jewelry companies in the world, announced that its ENZO retail division will open a second Macau retail outlet, to be located at The Venetian Macau, a 3,000-room resort hotel being built by Las Vegas Sands Corporation.

The Venetian Macau, a 10.5 million square-foot hotel being built at a cost of $1.8 billion, is part of the Las Vegas Sands' massive new development in the Cotai Strip area of Macau. It is due to open by next summer and is expected to be in full operation by summer 2008.

The overall Cotai Strip project is designed to be the centerpiece of Macau tourism, with 16,000 guest rooms, world-class meeting and convention facilities, over 20,000 seats for live entertainment and two million square feet of retail venues.

Macau has earned the label "Asia's Las Vegas" through the rapid growth of its gaming and tourist industries. In addition to the Las Vegas Sands projects, it has also seen major investment by Las Vegas Sands' leading competitor, Wynn Resorts Ltd, which has just opened its $1 billion hotel-casino complex in Macau.

LJI Chairman and CEO Yu Chuan Yih said, "The boom in Macau presents a huge opportunity for retailers such as ENZO, and we are pleased that ENZO stores will soon occupy not just one but two of the most desirable Macau locations."

"With our Fisherman's Wharf megastore expected to be in full operation during this year, the addition of a major new outlet at the Venetian - expected to be one of the area's most desired lodgings - will place ENZO in a prime position to take full advantage of Macau's expected growth in tourism, gaming and shopping."

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