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LOS ANGELES, March 08, 2016 -- 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 provide an update on its growing relationship with IKEA. Ms. Tawny Lam, Nova LifeStyle’s President, noted that “IKEA continues to be a trusted partner for Nova LifeStyle in the China market. Our relationship continues to grow as we added new SKUs last year and anticipate continued product line expansion in the future.”
In order to maximize its relationship with IKEA, Nova LifeStyle has been invited to visit both IKEA headquarters and two top suppliers in Sweden. The Company is looking to these meetings as valuable opportunities to learn new technological methods to improve its production KPI while also gaining cost efficiencies. According to Ms. Lam, “At Nova LifeStyle we are always seeking ways to improve our organization, from our sales efforts to our operational and production procedures. This reflects our belief that our products need to constantly evolve in concert with the tastes and preferences of our customers.”
IKEA is a company noted for its sleek designs and efficient production. By virtue of its partnership with IKEA, Nova LifeStyle hopes to gain insight into various ways in which its own operations can be improved. In doing so, the Company believes it can better serve its customers while also delivering improved results for shareholders.
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 protected] In China Katherine Yao, Senior Associate +86-10-6587-6435 [email protected]
