Novori & Zalemark create brand strategy with new revenue streams
May 27, 2008 - United States Of America
Novori Inc is proud to announce that it has entered into an agreement with intent to merge with Zalemark Inc. The merger, which is subject to negotiation and execution of binding definitive documents, satisfaction of certain conditions precedent, approval by Novori shareholders and other ordinary and customary closing conditions for a transaction of this type, is anticipated to close June 21, 2008.
Since branding Zalemark in 2002, the Sherman Oaks, California-based design firm, headed by its dynamic CEO, Steven Zale, has developed its labels to include a diverse and impressive portfolio of premium branded jewelry collections, a growing number of which are celebrity endorsed. The firms licenses include the successful Seventeen Jewelry Collection.
Zalemark's latest planned launches -- a Bridal line and Couture line under the prestigious Badgley Mischka label and a fashion fine jewelry collection under the Hearst licensed ESQ brand -- is debuting at the Couture Show, Villa 301, Wynn Hotel and Casino in Las Vegas, May 28-June 2. Further information on these lines and their debut schedules will be released as confirmed.
Steven Zale, Zalemark Design Director, states, "This agreement with Novori is a significant, exciting milestone in broadening our brand strategy and expanding our distribution through an exclusive direct marketing channel for our jewelry.
While the brick & motor retail channel will remain a primary focus, we believe the internet will create new global opportunities to expand our consumer product selection and drive traffic to the independent retail stores as well as Novori's website. We expect this new marketing initiative will allow us to generate new revenue streams.
Together, we are committed to setting very aggressive financial targets because of the consumer metrics that exist in the companies. We believe the synergies combined by both companies will become a significant driver of our revenue growth, while enhancing shareholder value."
Mark Neild, Novori CFO, said, "We view this merger not only as an exciting next step for Novori, but as a revolutionary step that dramatically amplifies the paramount character of Novori.
While Novori will actively continue as a leading online retailer of high quality diamonds and fine jewelry, we will now also become a leader in the brand jewelry industry with licensing for established brand names such as Badgley Mischka, ESQ, Demeter and Seventeen.
We will develop and manage the official jewelry websites for these major brands utilizing our existing online strengths and technologies to drive online sales for those brands. Simultaneously, we will be distributing these brand products through over a thousand brick and mortar retail locations throughout the country giving us a major revenue stream."