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Sluggish retail sales fail to affect OmniaLuo's growth in March

16
Apr '08
The U.S. Department of Commerce reported that retail sales in March grew at a sluggish pace, evidencing a continuing economic slowdown, but that's not the case in China where OmniaLuo Inc just opened 24 stores in March.

Shenzen-based OmniaLuo, a high-end fashion chain carrying original designer clothing, is the brainchild of founder Cindy Luo, an award-winning Chinese fashion designer who's on a fast-track expansion with an aggressive goal of opening 66 new stores this year.

"Our success in March signifies not only a new Company best -- a full 60% increase over our prior record of 15 stores in February of 2007 -- but it also serves to kick start our growth prospects for 2008 and beyond," said Ms. Luo.

While the designer-turned-retailer was excited about OmniaLuo's growth, in the United States retail sales have slowed to a snail's pace.

In a press release issued Monday, National Retail Federation (NRF) Chief Economist Rosalind Wells said, "Unseasonably cooler weather created a challenging sales environment for many U.S. apparel retailers last month."

The U.S. Department of Commerce reported Monday that retail apparel sales shrank 0.5 percent in March while excluding automobiles, gas stations, and restaurants, total U.S. retail sales shrank 0.9 percent unadjusted over last year and were down 0.3 percent from the prior month.

Though Ms. Wells chalked up the decline in U.S. retail sales to weather, Ms. Luo noted that OmniaLuo's growth took place on the cusp of the Chinese New Year in January and February when sales there are historically lower. OmniaLuo, Inc. now has 211 retail stores open with a goal of 250 for the year.


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