LOS ANGELES, June 28, 2017 (GLOBE NEWSWIRE) — Nova LifeStyle, Inc. (NASDAQ:NVFY) or (the “Company”), a U.S. based innovative provider, designer and distributor of modern LifeStyle products, announced today that the Company has seen a significant increase of its products in global online sales over the past year, largely due to an increased number of products being sold online through a combination of direct retailer and third-party sellers.
The Company has successfully built its brand recognition in the United States, with its “Diamond Sofa” brand having been in the furniture business since 1992. In addition to selling to the top 100 furniture stores nationwide in the United States, Nova LifeStyle currently sells online through direct relationships such as Wayfair.com and Houzz.com, and through over 20 different third party sellers. These third-party sellers will generally promote Diamond Sofa’s brand on either their own website or through all of the largest e-commerce platforms, such as Amazon.com.
The Company believes that the continued integration of online retailers into its sales and marketing strategies will increase sales worldwide by building brand awareness and acting as an effective advertising vehicle, and now offers over 450 different product options to retailers across the world (up over 200% from 2016).
The Company believes in promoting an entire lifestyle, not just selling furniture, and the ability to sell furniture in this way has helped increase brand awareness and has contributed to the overall growth in sales.
Tawny Lam, Nova LifeStyle’s Chief Executive Officer, said, “We have worked tirelessly to position our Company to be able to sell our products and promote our brand in a number of varying channels. We have benefited from a growing e-commerce presence, which has allowed our Company to better promote our quality brand of products to a wider audience. Over the past year, we have substantially increased the number of products available on major websites around the world and expect this to be reflected in our sales in the coming quarters. Further, we anticipate that our increasing brand recognition can begin to achieve incremental margin gains over time. We are now fully seeing the benefit of leveraging several different methods for expanding our e-commerce presence over the past few years.”
About Nova LifeStyle
Nova LifeStyle, Inc., a NASDAQ Global Market listed company headquartered in California, is a fast growing, innovative designer, manufacturer and distributor of modern LifeStyle furniture; primarily sofas, dining rooms, cabinets, office furniture and related components, bedrooms, and various accessories in matching collections. Visit Nova’s website: 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.
CONTACT: Company Contact: Investor Relations: The Equity Group Inc. In U.S. Adam Prior, Senior Vice President +1 (212) 836-9606 [email protected] In China Katherine Yao, Senior Associate +86-10-6587-6435 [email protected]