SHENZHEN, China, Jan. 8 /PRNewswire-Asia/ -- FUQI International, Inc. (Nasdaq: FUQI) today is pleased to announce that the Company has recently launched a new product campaign promoting a series of gold jewelry products based on the popular Chinese animated cartoon figures, "Pleasant Goat and Big Big Wolf." FUQI is the first jewelry company in China to obtain the exclusive rights to commercialize, manufacture, distribute, market and sell "Pleasant Goat and Big Big Wolf" jewelry products in mainland China.
The Company signed an exclusive two year partnership agreement with a subsidiary of Infoport Management, which owns the licensing distribution rights to the "Pleasant Goat and Big Big Wolf" animated series. Under the agreement terms which expire at end of January 2012, FUQI will exclusively manufacture, distribute, market and sell in mainland China new jewelry products such as precious metal coins, bracelets, pendants and rings based on these animated cartoon characters.
"We are delighted and honored to be the first and only Chinese jewelry company in China to have the exclusive rights to design and produce various jewelry products using these well known Chinese animated characters," said Mr. Yu Kwai Chong, Chairman and CEO of FUQI International. "We believe this new partnership uniquely distinguishes us from our competition and enhances the strength of our brand. Most importantly, it allows us to attract new customers in our Beijing and Shanghai-based retail locations as well as gain new accounts in our wholesale channel. The Pleasant Goat and Big Big Wolf cartoon figures are pop icons in China and we expect this series of products to be welcomed by kids and a younger audience. The timing of this new product launch is also ideal for FUQI as we make efforts to leverage the peak retail season to capture sales of this new product line and benefit our brand on both wholesale and retail levels. We believe that a successful roll out of our animated product series can lead to potential development of other exclusive agreements with other popular characters."
"We are truly excited about the launch of this project and plan to introduce additional phases of our new product series in the future, allowing us to further establish ourselves in the juvenile market. We believe that the "Pleasant Goat and Big Big Wolf" products will be as popular as our Lunar New Year Tiger figures," commented Senior Project manager, Mr. Xu Zhu. "Our plan is to sell these new products in our retail outlets in Tier 1 cities, such as Shanghai and Beijing, and utilize authorized dealers in our distribution business to better control our product distribution channels in other cities around China. We have received many requests and orders from regional and local Chinese jewelry distributors to become authorized regional distributors for this new line of products, which can eventually lead to additional sales opportunities for our broader portfolio of jewelry products in the future."
About FUQI International
Based in Shenzhen, China, FUQI International, Inc. is a leading designer, producer and seller of high quality precious metal jewelry in China. Fuqi develops, promotes, manufactures and sells a broad range of products consisting of unique styles and designs made from gold and other precious metals such as platinum and Karat gold.
About InfoPort Mangement
Infoport Management Ltd. is authorized to operate a diversified commodities company that specializes in the style of the merchandise for customers to provide business services authority to promote goods and business customers to increase the brand's market exposure and increase brand image and goodwill.
Safe Harbor Statement
This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. Forward- looking statements can be identified by the use of forward-looking terminology such as "will" "believes", "expects" or similar expressions. These forward-looking statements may also include statements about the Company's proposed discussions related to its business or growth strategy, which is subject to change. Such information is based upon expectations of the Company's management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to uncertainties and contingencies beyond our control and upon assumptions. Such risks and uncertainties include, but are not limited to, adverse capital and credit market conditions, the vulnerability of the Company's business to a general economic downturn in China; fluctuation and unpredictability of costs related the gold, platinum and precious metals and other commodities used to make the Company's products; the Company's ability to obtain all necessary government certifications and/or licenses to conduct its business; the Company's recent entry into the retail jewelry market; the Company's reliance on one source for gold; 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 does not undertake to update the forward-looking statements contained in this press release. For a description of the risks and uncertainties that may cause actual results to differ from the forward-looking statements contained in this press release, see the Company's most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 10-K, and its subsequent SEC filings. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system (EDGAR) at http://www.sec.gov .
For more information, please contact:
Ms. Charlene Hua
EVP of Financial, Capital Market & Corporate Development
Phone: +852-9468-2497 (Hong Kong)
IR Email: IR@FuqiIntl.com
Bill Zima
ICR Inc. (US)
Phone: +1-203-682-8200
