Home / Knowledge / News / Fashion / New growth phase for ENZO

New growth phase for ENZO

11
May '10
LJ International Inc., a leading jewelry manufacturer and retailer, announced that its ENZO retail division has opened six new stores within the past two weeks. The ENZO retail chain now totals 101 stores. Eight additional ENZO stores are scheduled to open by the end of May 2010, bringing the total store count to 109.

All of the recent and scheduled openings are in cities of the People's Republic of China. Cities and provinces of the new store locations are listed by period of opening:

Stores (4) Opened During Last Week of April, 2010:

• Xuzhou, Jiangsu Province
• Zhangjiajie, Jiangsu Province
• Shanghai (2 stores)

Stores (2) Opened on May 1, 2010:

• ShaoXing, Zhejiang Province
• Qingdao, Shandong Province

Stores (8) to be Opened by May 31, 2010:

• Xi'an, ShanXi Province
• Zhengzhou, Henan Province
• Nanjing, Jiangsu Province
• Wuxi, Jiangsu Province
• Nanchang, Jiangxi Province
• Shanghai
• Shenyang, Liaoning Province
• Chengdu, Sichuan Province

With recent and upcoming openings, ENZO has resumed its expansion after an approximately two-year period of store consolidation, brand-building and efficiency improvements. As previously announced, ENZO's parent company, LJ International Inc., has set a target of opening approximately 100 new ENZO stores by year-end, 2011. At that time, the retail chain's total count will be approximately 200 stores. Given ENZO's China-based clientele, all stores will be launched in the Company's current market area of China, Hong Kong and Macau.

CEO Declares Start of "New Growth Phase"
"Announcement marks the beginning of a major new growth phase for ENZO," said Yu Chuan Yih, Chairman and CEO of LJ International Inc. "Over the past two years, ENZO has produced impressive results with existing stores. Streamlined efficiencies and tactical management have ensured ENZO stores run profitably. Results include consistent revenue growth of more than 30% and comparable-store growth well into the double-digits. Now ENZO will be utilizing these proven and highly-effective retailing methods to deploy an ongoing planned store rollout. It is particularly worth noting that ENZO's expansion is geographically broad. We are not simply adding more stores in China's largest cities, but aggressively seeking new consumers in second-tier cities where population growth is significant and where our target market of the affluent middle-class is strongly emerging."

ENZO's Market Reach Detailed
The recent and scheduled store openings will give ENZO a presence in 34 cities and 18 provinces of the People Republic of China, plus Hong Kong and Macau. Cities with the largest store count will be Shanghai (20) and Beijing (12). ENZO stores are sited in several of China's largest upscale malls, including Parkson Shopping Center (Shanghai), Intime Lotte Department Store (Tianjin), and Wangfujing Department Store (Beijing). New locations were chosen to provide convenient access and attractive shopping destinations for newly-affluent consumers (growing middle-class) who make up ENZO's primary target market.

LJ International Inc


Must ReadView All

Pic: Shutterstock

Textiles | On 24th Jul 2021

5.2 lakh Zimbabwean homes to gain from Pfumvudza cotton inputs scheme

At least 520,000 households in the marginalised zones of Zimbabwe...

Pic: Lanzatech

Textiles | On 24th Jul 2021

US' LanzaTech, Lululemon to make yarn from recycled carbon emissions

LanzaTech has joined hands with Lululemon athletica, an athletic...

Pic: HOdo Group

Apparel/Garments | On 24th Jul 2021

Chinese apparel firm HOdo exports carbon-offset clothing

Apparel brand HOdo has claimed producing and exporting China’s first...

Interviews View All

Vandana Narang, National Institute of Fashion Technology

Vandana Narang
National Institute of Fashion Technology

Campus placements are low due to lockdowns

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry with brand ethos

Textile Industry, Head honchos

Textile Industry
Head honchos

Strongly believe in 'people first' policy.

Dhirubhai & Arvind Shah,

Dhirubhai & Arvind Shah

It supplies synthetic fabrics to top international brands like M&S,...

C Maennich,

C Maennich

Trützschler, one of the world's leading textile machinery manufacturers,...

Akram Tariq Khan,

Akram Tariq Khan

E-commerce brand YourLibaas meaning "garment or attire" in Udru, was...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Frank Heislitz, Freudenberg

Frank Heislitz
Freudenberg

Freudenberg Performance Materials is a leading global manufacturer of...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

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


July 2021

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


Advanced Search