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LJ Intl inks agreement for China Enzo Ferrari car race

17
Dec '05
Fastest growing jewelry companies, LJ International Inc announced that it plans to race a Ferrari challenge car, bearing the brand of LJI's ENZO chain of retail jewelry stores, in a series of events in China beginning in 2006. Ferrari is a wholly owned subsidiary of Fiat.

"Company is pleased to be taking a highly visible role in a series of national racing events that are likely to have a wide viewing audience in China," said LJI Chairman and CEO Yu Chuan Yih.

"The Ferrari brand, of course, is powerful symbol of luxury and exquisite styling -- qualities that consumers increasingly associate with China brand, ENZO. The name also will remind auto aficionados of the legendary founder of the Ferrari line, Enzo Ferrari, as well as LJI's well-known jewelry sold worldwide."

Through an agreement with Mega Racing International Ltd (MRI), a U.K.-based organizer of motorsports events, LJI will race a Ferrari 360, bearing the ENZO logo, in a series of races planned for 2006.

MRI will provide transport, storage, mechanical, fueling and other services for LJI, as well as "track day" services such as provision of drivers and mechanics. The series of races is to be called Mega Racing Ferrari Challenge China.

The ENZO car is a red Ferrari 360 that has finished at or near first place in a number of races. It placed first in two 2004 British GT Championship select races -- the Silverstone Cup Class and the Thruxton Cup Class.

It placed second in the European 360 Challenge, the Pirelli Maranello Ferrari Challenge and the recent European 360 Challenge Coppa Shell.


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