Expands Global Sales of Higher-Margin Nova LifeStyle Branded Products
LOS ANGELES, April 3, 2014 /PRNewswire/ -- Nova LifeStyle, Inc. (NASDAQ-GM: NVFY), a U.S.-based fast growing, innovative designer, manufacturer and distributor of modern LifeStyle furniture, today announced it has signed a continuous supply agreement with HOME CENTRE, LLC., ("Home Centre") a leading furniture and home furnishing retailer based in Dubai, U.A.E.
The Home Centre agreement marks Nova LifeStyle's first entry into the Middle East region. The Company will initially supply Home Centre with key pieces from its branded dining room furniture line manufactured in its China facilities, with the potential to expand into full line collections.
"The Home Center is a key preferred home shopping destination in the Middle East. Earning their long-term business marks a key milestone for our Company and is a strong endorsement of the quality, style and functionality of our urban contemporary furniture. With this new relationship we have expanded our distribution into new markets, in line with a key initiative to grow our global presence of our higher-margin Nova LifeStyle branded products," said Tawny Lam, President of Nova LifeStyle, Inc. "We expect this new agreement to contribute significantly to both our sales and profitability in fiscal 2014."
About HOME CENTRE, LLC
With more than 80 stores across the GCC, Egypt, Jordan, Lebanon and the Indian Subcontinent, Home Centre offers an exhaustive and impressive range of furniture, home furnishings, home accessories, bed & bath and kitchenware. Home Centre's in-house team of stylists and buyers draw inspiration from global trends to bring stylish and affordable furniture and home furnishing to a wide spectrum of homes from traditional to modern. Home Centre is part of the Landmark Group of companies, an international, diversified retail conglomerate that encourages entrepreneurship to consistently deliver exceptional value since 1973. To learn more about HOME CENTRE LLC, please visit www.homecentrestores.com/en.
About Nova LifeStyle, Inc.
Nova LifeStyle, Inc., a NASDAQ Global Markets Exchange listed company headquartered in California, is a fast growing, innovative designer and manufacturer of modern LifeStyle furniture; primarily sofas, dining rooms, cabinets, office furniture and related components, bedrooms, and various accessories in matching collections. Nova's products are made in the US, Europe, and Asia and include LifeStyle brands such as Diamond Sofa, Colorful World, Giorgio Mobili, Nova QwiK, and Bright Swallow International. Nova's products feature urban contemporary styles that integrate comfort and functionality incorporating upscale luxury designs appealing to LifeStyle-conscious middle and upper middle-income consumers in the U.S., China, Europe, and elsewhere in the world. To learn more about Nova LifeStyle, Inc., please visit our website at www.NovaLifeStyle.com.
Safe Harbor Statement
All statements in this press release that are not historical are forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the company's expectations. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect Nova's current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in Nova's filings with the Securities and Exchange Commission.
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