LOS ANGELES, May 05, 2016 (GLOBE NEWSWIRE) -- Nova LifeStyle, Inc. (NASDAQ:NVFY) (“Nova LifeStyle” or the “Company”), a U.S.-based, leading innovative designer, manufacturer and distributor of modern life style furniture, today announced the Company has partnered with Hong Kong based Grace Generation Holdings (HK) Co. Ltd. (“Grace Generation”) to expand its global sales efforts in China and the US through the marketing platform of Future World Marketing.
Nova LifeStyle has worked to adopt new image standards for its entire product line, and is constantly upgrading its home furnishing solutions to meet the changing needs of its customers. In 2015, consumer demand for furniture in China was up 16.1% from 2014, with e-commerce sales increasing 60% in 2015. As a result of this growth, management felt that the timing was appropriate for a broad marketing effort. In addition, the Company has seen considerable expansion of its North American business, with sales having increased 17% in 2015.
Grace Generation has a portfolio of successful clients in the consumer space, and expects to utilize its expertise in marketing the Company’s products throughout China and North America. Specifically, the Company anticipates leveraging the firm’s specialty in digital marketing as it continues its rapid expansion of online and e-commerce driven product delivery.
Tawny Lam, President of Nova LifeStyle, stated, "We continue to seek new partnerships where we can expand Nova LifeStyle’s and Diamond Sofa’s quality brand recognition. We believe that our products feature the quality, appearance, functionality and price points sought by today’s middle to upper middle-income consumers in China, US and in the international markets. Grace Generation Holdings has successfully worked with several companies in the food and beverage, personal care, and health care sectors to enhance their sales efforts. The addition of Nova LifeStyle furnishing really complements Grace Generation’s promotion of modern lifestyle. We felt that the timing was perfect to accelerate these efforts in light of a favorable market for our products.”
About Grace Generation Group of Companies
Founded in 2008, Grace Generation Group is dedicated to becoming a more efficient solution provider to its business partners. The company has established five subsidiaries in Hong Kong (Grace Generation Group Co., Ltd, Hong Kong), Guangzhou (Grace Generation Biotech Co. Ltd.) and Malaysia (Grace Home Consultancy Sdn. Bhd., Grace Generation Information Technology Sdn Bhd, Grace Generation Health Industry Sdn Bhd). The Company’s website is www.mygracegeneration.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.
Company Contact: INVESTOR RELATIONS: The Equity Group Inc. In U.S. Adam Prior, Senior Vice President +1 (212) 836-9606 email@example.com In China Katherine Yao, Senior Associate +86-10-6587-6435 firstname.lastname@example.org
Source:Nova LifeStyle, Inc.