LJ International Inc, one of the fastest-growing jewelry companies in the world, has informed that it will be expanding its ENZO retail mega-store in Macau by an additional two-thousand square feet in anticipation of higher than expected demand.
As previously reported, the company held its soft opening for its Macau store on New Year's Eve, 2005, in conjunction with the grand opening of Macau's new Fisherman's Wharf retail and entertainment center. Including the additional expansion, the store is expected to be in full operation by the third quarter of this year.
LJI Chairman and CEO Yu Chuan Yih, said, "The opening of our Macau store is truly a significant milestone in the execution of our ENZO growth strategy in Greater China."
"As the 'Las Vegas of Asia,' Macau is prime destination not only for gambling but for other recreation as well -- including shopping, dining and other family activities. As a result, it expected to draw at least 15 million to 20 million visitors just in its first year and steadily grow from there. Our new mega-store places ENZO in a prime position to offer a full range of products to millions of affluent customers throughout the year.
We are also pleased to be able to execute a faster track record of new store openings than all of our foreign competitors put together, including Tiffany & Co., which recently announced plans to open a 2,000 square foot store in Macau later this year."
The Macau store, at10,000 square feet, will represent the largest jewelry retail store so far in LJI's rapidly expanding ENZO division of retail jewelry stores in Greater China as well as the largest in all of Asia.