Envela Introduces Its Fresh Retail Concept - "Four Nines"
Envela (NYSE: ELA) has launched its first Four Nines retail store in Gilbert, Arizona, focusing on luxury goods. This expansion aims to make high-quality, authenticated luxury items more accessible. The store features branded and vintage jewelry, diamonds, engagement rings, bullion, coins, luxury timepieces, and accessories from top brands like Louis Vuitton, Gucci, and Rolex. Additionally, services include jewelry and watch repair, and Bijoux Exchange for selling precious items. The Gilbert store serves as a test for broader brand expansion across the U.S.
- Launch of Four Nines store in a strategic location (Gilbert, Arizona)
- Focus on curated luxury goods from prestigious brands like Louis Vuitton, Gucci, and Rolex
- Diverse product range—jewelry, diamonds, bullion, coins, and accessories
- Incorporation of professional expertise and customer education in diamond selection
- Ethical sourcing of diamonds
- Availability of jewelry and watch repair services
- Introduction of Bijoux Exchange for selling luxury items
- Commitment to sustainability with a focus on vintage and eco-friendly fashion
- Potential for brand expansion into new U.S. markets
- Potential high operational costs for maintaining luxury retail stores
- Risk of low consumer foot traffic in physical stores
- Initial market test phase may not guarantee success
- Possible financial pressure from inventory management of high-value items
- Dependence on consumer demand for luxury goods, which can be volatile
DALLAS, TX / ACCESSWIRE / May 20, 2024 / Envela Corporation (NYSE American:ELA) ("Envela" or the "Company") today announced the unveiling of its inaugural Four Nines retail store in Gilbert, Arizona. This launch showcases the Company's commitment to bringing physical retail marketplaces for authenticated luxury goods to new communities across the United States.
"We are incredibly excited to open our doors in Arizona and welcome the local community to experience Four Nines firsthand. Our decision to open our first retail store in Gilbert holds profound significance for our brand - by opening this retail location, we are testing and learning as we expand the reach of our brand," said Allison DeStefano, Head of Envela's Consumer Division. "This is a very exciting time to be at Four Nines and we will continue executing on our plan to bring the brand experience physically to more U.S. consumers. These openings are the first of several and we look forward to sharing more on our progress as the year goes on."
Four Nines in Arizona
Over the past year, the Company has eagerly anticipating this moment, working diligently to create a shopping experience that will connect with customers in the Arizona marketplace. With a focus on exceptional customer service, a wide range of high-quality products, and an inviting store atmosphere, we aim to become a cornerstone of the community. Four Nines offers customers an elevated shopping experience, with new discoveries at every turn. Its curated merchandise aligns with consumer preferences for top brands and current trends, featuring luxury handbags from Louis Vuitton and Gucci, jewelry from Tiffany & Co. and Van Cleef & Arpels, and watches from Rolex and Cartier.
What We Offer
Jewelry
Recognizing the trend of mixing and matching luxury brands with unique pieces, our store offers a distinctive blend of branded, unbranded, vintage, and luxury jewelry. Our jewelry collection caters to customers seeking sustainable fashion and authenticity, ready to infuse their personal style with fine jewelry that is both unique and expressive. Our store offers an unparalleled shopping experience, bringing together professional expertise and a comprehensive inventory. We strive to make high-end jewelry more approachable, to shoppers with a mix of high-end and contemporary styles. Our collection, known for its breadth and quality, includes necklaces, pendants, bracelets, and earrings. The joy of customers finding their "perfect" vintage ring or necklace is unparalleled, underscoring the timeless value of jewelry. Sustainability significantly influences our clients' decisions, and the appeal of vintage jewelry aligns with their growing demand for eco-friendly fashion choices.
Diamonds & Engagement
We offer an unparalleled selection of loose and mounted diamonds, including rare and unique stones, as well as a wide array of engagement ring mountings and wedding bands crafted by America's top designers. Our designer collections include every look, style, and cut-from classic to contemporary, featuring today's hottest designers and customizable settings. Explore our exclusive in-house jewelry collection or create a one-of-a-kind, heirloom-quality piece that is sure to be unforgettable. Our diamond experts provide an educational experience that equips customers with the knowledge and resources to select the perfect diamond for their specifications and budget. As a socially responsible company, our diamonds are hand-selected and ethically sourced.
Bullion & Coins
For over half a century, we have been at the forefront of assisting clients with their investments in gold, silver, platinum, and palladium bullion, and American numismatic rarities. We are an industry leader with a team of highly skilled precious metals and numismatic experts. Our extensive selection includes U.S. Mint bullion products and international offerings from The Royal Mint, Perth Mint, and others. Collectors can browse an extensive selection of coins and paper money available for direct purchase. At our core, we believe in exceeding expectations at every step-guiding clients through their investment journeys with the highest quality precious-metals opportunities and providing comprehensive education to ensure they can make well-informed decisions.
Fine Timepieces
Four Nines Certified Pre-Owned program puts an opportunity to own a classic watch within reach. With transparency at our core, we are the leading marketplace for pre-owned and vintage Rolex watches and other high-quality luxury timepieces. Our experts know luxury watches inside and out, and we offer a continually evolving roster of high-demand pieces to explore. Our in-house specialists put each watch through a multi-stage assessment to confirm its authenticity. We know exactly what we're looking for and offer an assortment of top-tier luxury watch brands, including Rolex, Omega, and more.
Accessories
We offer a plethora of store-fresh, new, like-new, and vintage handbags, with additional merchandise added daily. Our carefully curated collection of certified designer handbags and accessories includes iconic designs from fashion's biggest names such as Chanel, Goyard, Hermès, Louis Vuitton, and Fendi. As a trusted dealer for authentic handbags in the secondary market, we offer an unparalleled shopping experience. With extensive experience and a daily market presence, we identify hard-to-find and highly sought-after pieces in a variety of color combinations. Unlike consignment stores, we are a recognized leader in the luxury handbag secondary market. We prioritize authenticity and meticulously authenticate unique designer handbags to ensure they are genuine and unaltered, and then purchase them outright, allowing us to stand behind our products. Our knowledgeable sales associates are available to discuss options and help clients find unique, hard-to-find bags or discover renowned fashion brands.
Watch & Jewelry Repair
At our jewelry and watch repair service, our skilled craftsmen restore your treasures-from simple cleanings to complex repairs, including fixing broken clasps and other pieces, resizing rings, securing gemstones, replacing prongs and watch batteries, and verifying certified chronometer ratings. Our watch services include complete movement overhauls, meticulous cases and bracelets refinishing, and rigorous testing for timekeeping accuracy and water-resistance. Each timepiece leaving our workshop meets its original functional and aesthetic specifications. We pride ourselves on attention to detail and quality craftsmanship, returning your pieces better than how they arrived.
Bijoux Exchange
For customers seeking to sell their jewelry, watches, diamonds, gold, or platinum items due to changes in style, damage, financial need, or life events, the partnership of Four Nines with its sister company Bijoux Exchange offers a discrete, comfortable selling experience with immediate payments. Bijoux Exchange is co-located within our Four Nines store. It helps clients give their jewelry and precious pieces new life without compromising their worth. Offering competitive prices, Bijoux Exchange provides a safe, easy, and secure selling process.
Now Open for Business
Our flagship store in the Val Vista Lakes neighborhood of Gilbert, Arizona, is located at 1565 N. Greenfield Road-opening May 20, 2024 (Monday-Saturday, 10-6).
Follow us on Instagram @fourninesjewelry. Four Nines is a trademark of Four Nines, with all rights reserved. For further details about Four Nines, please head to our website: www.fournines.com.
About Envela
Envela a leading provider of re-commerce services at the forefront of the circular economy. The company is comprised of primarily two key business segments: Consumer and Commercial. The Consumer segment operates retail stores and online sites that offer premium brands and luxury hard assets, while the Commercial segment provides personalized re-commerce solutions to meet the needs of various clients, including Fortune 500 companies. We execute with passion and meticulous attention to detail, focusing on our strengths rather than trying to be everything to everyone.
At Envela, we Reuse, Recycle, and Reimagine. To learn more, visit Envela.com and follow our social media channels on Twitter, Instagram, Facebook, and LinkedIn.
Cautionary Statement Regarding Forward-Looking Information
This press release contains statements that may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995's safe harbor provisions, including statements regarding future events and developments; potential expansions, purchases and acquisitions; potential future success of business lines and strategies; and management's expectations, beliefs, plans, estimates and projections relating to the future. Words such as "believes," "anticipates," "plans," "may," "intends," "will," "should," "expects" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on management's then current views and assumptions and, as a result, are subject to certain risks and uncertainties, which could cause the Company's actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, risks described more fully in Item 1A in the Company's Annual Report on Form 10-K, which are expressly incorporated herein by reference, and other factors as may periodically be described in the Company's filings with the SEC. By making these statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release except as required by law.
Investor Relations Contact:
Andrew Stacey
ir@envelacorp.com
972-587-4030
SOURCE: Envela Corporation
View the original press release on accesswire.com
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