NANJING, China, Sept. 26 /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 that it received a production order valued at approximately $4 million from NEXT PLC ("NEXT") during the month of August.
NEXT is a UK-based retailer with 460 stores offering collections for women, men and children. This single large production order mainly consists of men's casual trousers, which will help to supply NEXT's increased sales volume in upcoming seasons. This order marks a major increase from this customer. During the first seven months of 2007, Ever-Glory completed production orders from NEXT valued at $2 million.
"We are delighted to expand our relationship with NEXT through our
well-regarded product and service quality," said Mr. Yihua Kang, Ever-Glory's Chairman, Chief Executive Officer and President. "Our recent acquisition of Catch-Luck has increased our existing production capacity, which in turn allows us to accept increasingly larger orders from our valued customer base. Our 14 years of experience in apparel manufacturing and exports also enables us to obtain premier opportunities with new international partners."
About NEXT PLC
The launch of the NEXT retail chain in February 1982 had a major influence on High Streets throughout the UK, shaping the future of fashion retailing. The continued success of NEXT's unique and innovative shopping concept has provided the company with an outstanding record of achievement in a comparatively short period of time. The first store opened with an exclusive co-ordinated collection of stylish clothes, shoes and accessories for women. Collections for men, children and the home quickly followed. NEXT clothes are styled by the in-house design team to offer consistency of style, quality and value for money with a contemporary fashion edge. Today, NEXT operates more than 460 stores in the UK and Eire and more than 100 franchise stores overseas. For more information about NEXT, please visit: http://www.next.co.uk .
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.
