NANJING, China, Oct. 25 /Xinhua-PRNewswire-FirstCall/ -- Ever-Glory International Group, Inc. (OTC Bulletin Board: EGLY) (“Ever-Glory,” “the Company”), a leading apparel manufacturer in the People’s Republic of China (“PRC”), announced today it has received a new production order from Kellwood Company (“Kellwood”) valued at more than $2 million.
The new production order mainly consists of women’s skirts, in advance of sales for the summer fashion season in 2008. In the first three quarters of 2007, orders from Kellwood totaled nearly $10 million. Ever-Glory has been a key partner with Kellwood since 2005.
“We are pleased to have further developed our working relationship with Kellwood, one of our major customers in the U.S.,” said Mr. Yihua Kang, Ever-Glory’s Chairman, Chief Executive Officer and President. “Once export quotas to the European and American markets expire in 2008, we believe we will see even more promising growth opportunities.”
Ever-Glory continues to focus on business development, maintaining a sustainable growth rate and developing more customers to expand its customer base.
About Kellwood Company
Kellwood Company, a $2 billion marketer of apparel and consumer soft goods, specializes in branded as well as private label product, and markets to all channels of distribution with product specific to a particular channel. For more information, visit http://www.kellwood.com .
About Ever-Glory International Group, Inc.
Ever-Glory International Group is a U.S. publicly traded company engaged in international garment manufacturing for well-known middle- to high-grade casual, outer, and sportswear brands. The Company’s U.S. headquarters is based in Los Angeles, CA, although Ever-Glory also owns three full subsidiary companies, Goldenway Nanjing Garments Co. Ltd., Nanjing New-Tailun Garments Co, Ltd and Nanjing Catch-Luck Garments Co., Ltd. Ever-Glory has strategic business partners in countries including China, Europe and the U.S. The Company cooperates with well-respected garment retailer chains such as Itochu, Shinko, Debenhams, Next, C&A, Itoyokado and others in handling high- and middle-grade casual wear and sportswear. The Company entered into production and sales cooperation agreements with a number of internationally famous brands such as Matalan, Eddie Bauer, Best-Seller, BB Dakota and others. Ever-Glory employs more than 2,000 people. At present, the market distribution is segmented as 15 % in Japan, 54% in Europe, 27 % in United States and 3% in China. For more information about Ever-Glory International Group, please visit: http://www.everglorygroup.com .
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management’s current expectations. Such factors include, but are not limited to the Company’s ability to accurately complete product orders, coordinate product design with its customers, ability to expand and grow its distribution channels, political and economic factors in the People’s Republic of China, the Company’s ability to find attractive acquisition candidates, dependence on a limited number of larger customers and other factors detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
