LOS ANGELES, Feb. 09, 2016 (GLOBE NEWSWIRE) -- Nova LifeStyle, Inc. (NASDAQ:NVFY) ("Nova LifeStyle" or the "Company"), a U.S.-based, innovative designer, manufacturer and distributor of modern LifeStyle furniture, is pleased to announce that the Company’s showcase collections generated strong interest at the Winter 2016 Las Vegas Market. The Company received higher budget commitments on many of its products from distributors and retailers. Nova LifeStyle traditionally will have a number of its long-standing North American customer relationships set their annual budgets following meetings at the Winter 2016 Las Vegas Market. While still preliminary in terms of specific totals, sales requests are tracking significantly higher than the previous year.
The North American home furnishings industry closed 2015 on a high note thanks to a strong holiday season and activity at the Las Vegas Market saw the trend continue, with Nova LifeStyle’s new products, such as sofas, accent tables and end tables, generating immediate orders along with indications of additional, future purchase orders as buyers finalize their budgets.
Ms. Tawny Lam, Nova LifeStyle’s President, stated, “We are especially gratified to see our products and platform continue to resonate with buyers. Stepping back and looking at where we are after our start selling only Zen Cubes, our strategy of building out our catalogue in response to evolving customer tastes along with a focus on utilizing e-commerce channels is serving us well. We have embraced the customer’s requirement for modularity, which was a central theme throughout the event. Customers are now looking to add complimentary pieces as part of an entire solution, which is in direct contrast to matching collections that have dominated the industry in the past. We introduced a number of new products which are consistent with this dynamic and were well-received at Las Vegas Market.”
E-Commerce Continues to be a Valuable Tool for Nova LifeStyle
By adopting a go-to market strategy embracing both traditional and online channels, Nova LifeStyle is finding enhanced success in the market. Relative to larger competitors with entrenched marketing and distribution policies, Nova LifeStyle is able to be more nimble and responsive in working with its customers.
Online commerce destinations such as Wayfair.com represent significant growth potential for the Company. The Company’s strategy with online channels emphasizes several key points:
- Maximize the number of sites and grow this number with active sellers of the company’s products. Nova LifeStyle products are currently sold on about 90 active sites.
- Continue to add new SKUs in order to offer products that suit a wider range of tastes.
- Embrace the dynamic whereby many consumers use e-commerce sites as a precursor or complement to a showroom visit and purchase.
Mr. Charles Song, Director of Marketing at Nova LifeStyle, noted, “Las Vegas Market was a great kick-off to 2016. We were excited to see the enthusiasm from the 2015 holidays continue. Many buyers placed orders with us at the market while many others indicated a desire to order from us once their spending budgets are finalized. We also had a number of channel partners commend us on our ability to turn orders around quickly with high reliability.”
The Company has included a number of pictures from the event on its website at www.NovaLifeStyle.com.
About Nova LifeStyle
Nova LifeStyle, Inc., a NASDAQ Global Markets Exchange 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. 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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Source:Nova LifeStyle, Inc.