Envela Subsidiary DGSE Opens New Grapevine Retail Store

Rhea-AI Summary

Envela Corporation (NYSE American: ELA) has announced the opening of its new Dallas Gold & Silver Exchange retail location in Grapevine, Texas, moving from its previous site in Southlake. This strategic relocation is aimed at enhancing customer experience with more showroom space and improved parking. The company plans to focus on brick-and-mortar expansion and aims to open additional locations within the next two years while providing innovative consumer experiences.

Positive

• New retail location in Grapevine enhances customer accessibility and experience.
• Strategic relocation prioritizes better showroom space and parking for customers.
• Commitment to brick-and-mortar expansion indicates growth potential.
• Plans to open more retail locations in the next two years.

Negative

• None.

DALLAS, TX / ACCESSWIRE / November 30, 2020 / DGSE, LLC ("DGSE"), a subsidiary of Envela Corporation (NYSE American:ELA) ("Envela" or the "Company") announced that it opened its Dallas Gold & Silver Exchange retail building in Grapevine, Texas.

"Upgrading and moving our Southlake store was a priority going into 2020. We were able to find a great location just 2-miles away on the same road, but in Grapevine. Grapevine is known for great shopping and its historic downtown with restored 19th- and 20th-century buildings. Our new location will offer more showroom space with better parking and we couldn't be more thrilled to welcome our Southlake customers to our new amazing space," said Scott Mosley, President of DGSE. "We want to continue to invest in new locations to bring the DGSE experience to a wider customer base."

Brick-and-mortar expansion remains a top priority and strong growth opportunity for DGSE. DGSE plans to maintain cutting-edge technologies, an inviting product selection, and excellent customer service to expanding locations.

During the next two years, DGSE anticipates providing omnichannel and immersive consumer experiences to its customers, and opening even more retail locations.

About DGSE

DGSE focuses on sustainable, authenticated recommerce of luxury brands and diamonds. Its retail strategy is anchored in being an information resource for clients, bringing transparency to purchase and sale transactions, and offering value and liquidity to those seeking to buy, sell or trade jewelry, watches, diamonds or coins.

DGSE wholesales and retails jewelry, diamonds, fine watches, and precious metal bullion and rare coin products through its Charleston Gold & Diamond Exchange, Est.1999, (www.cdgeinc.com) and Dallas Gold & Silver Exchange, Est. 1978, (www.dgse.com) operations.

DGSE strives to deliver an unrivaled customer experience. It features a broad selection of high-quality vintage and new jewelry, precious-metal bullion, rare coins, fine timepieces and diamonds, together with value pricing and a customer-friendly sales process.

DGSE has specialized in buying and selling jewelry for over 40 years, making our expert staff among the best in the business.

About Envela

Envela and its subsidiaries engage in diverse business activities within the recommerce sector. These include one of the nation's premier authenticated recommerce retailers of luxury hard assets; end-of-life asset recycling; data destruction and IT asset management; and providers of products, services and solutions to industrial and commercial companies.

Envela operates primarily via two business segments. Through DGSE, LLC, the Company will operate its Dallas Gold and Silver Exchange, Charleston Gold & Diamond Exchange, and Bullion Express brands. Under ECHG, LLC, it will operate Echo Environmental, ITAD USA and Teladvance. Envela is a Nevada corporation, headquartered in Dallas, Texas.

Additional information about Envela is available at its investor-relations site, Envela.com.

Forward-Looking Statements

This press release includes statements that may constitute "forward-looking" statements, including statements regarding potential property acquisitions, future growth, business strategies, and the future success of DGSE. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, market conditions and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking 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:
David Vadala
Head of Investor Relations
Envela Corporation
13022 Preston Rd Dallas, TX 75240
972.587.4030

SOURCE: Envela Corporation

View source version on accesswire.com:
https://www.accesswire.com/618738/Envela-Subsidiary-DGSE-Opens-New-Grapevine-Retail-Store

FAQ

What is the significance of DGSE opening a new retail store in Grapevine, Texas?

The new store enhances customer accessibility and experience, marking a strategic relocation from Southlake.

How does the new DGSE location impact Envela Corporation's growth strategy?

The new location supports Envela's focus on brick-and-mortar expansion and aims to reach a wider customer base.

What are DGSE's plans for the future after opening the Grapevine store?

DGSE plans to open more retail locations and provide enhanced omnichannel consumer experiences within the next two years.

What does the relocation of DGSE's store from Southlake to Grapevine involve?

The relocation offers better showroom space and parking, enhancing the overall shopping experience for customers.