Jewelry firm LJI ENZO in rapid expansion mode in Mainland
04 Jul '06
3 min read
LJI expects ENZO to reach break-even EBITDA (earnings before interest, taxes, depreciation and amortization) during 2006, with profitability expected the following year.
Yu Chuan Yih, Chairman and CEO of LJ International, commented, “The financial growth of our ENZO retail stores in only its first 18 months of operation confirms the brand's strong market acceptance in the Chinese retail jewelry market.”
“It is also growing at such a rapid pace that it will likely emerge as one of the primary drivers of LJI's future financial growth faster than initially expected.”
“ENZO's current store opening schedule, which is well ahead of schedule, successful advertising and marketing campaigns and the growing Chinese economy has already enabled over 40% of the total number of stores to achieve profitability on the store level - - nearly half a year ahead of our initial expectations."
"As a result, we believe ENZO will positively impact both our current second quarter and the remainder of the year better than expected.”
Leading jewellery company LJ International distributes to fine jewelers, department stores, national jewelry chains and electronic and specialty retailers throughout North America and Western Europe, with a growing retail presence in China through its ENZO stores.
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