Nova LifeStyle Exhibits New Design Line at First High Point Market Furniture Trade Show Following Pandemic
Nova LifeStyle, Inc. (NASDAQ: NVFY) announced its subsidiary, Diamond Sofa, showcased a new design line at the High Point Market furniture trade show from June 5-9, 2021. CEO Tawny Lam highlighted the company's active sales strategy during the pandemic, focusing on higher-margin products and maintaining inventory levels to fulfill orders promptly despite shipping delays and increased freight costs. The High Point Market is recognized as the largest home furnishings trade show globally, featuring 2000 exhibitors across 10 million square feet.
- Successful exhibition of new design line at High Point Market.
- Shifted focus to higher-margin products, enhancing profitability.
- Maintained a robust inventory to ensure timely order fulfillment.
- Increased freight charges due to the COVID-19 pandemic may affect profitability.
LOS ANGELES, June 21, 2021 (GLOBE NEWSWIRE) -- Nova LifeStyle, Inc. (NASDAQ: NVFY) (“Nova LifeStyle” or the “Company”) is pleased to announce, Diamond Sofa, a wholly owned subsidiary of the Company, has successfully exhibited a new design line at the High Point Market furniture trade show June 5th thru 9th.
Tawny Lam, Chairperson and Chief Executive Officer of Nova LifeStyle, stated, “The event is always a special place for our company to display our product lines and interact with buyers from all over the world. We have been very active in our sales and marketing strategy throughout the pandemic as well as speaking and meeting with loyal current and prospective customers like Nebraska Furniture Mart, Regency Furniture, El Dorado Furniture and Slumberland to name a few. I am very pleased with our overall strategy a few years ago that had us shift to higher margin products and our continued inventory buildup which allows us to be able to fulfill orders in a timely fashion and stay competitive even with the tremendous delay of shipment and increase of the freight charges due to the COVID-19 pandemic.”
The High Point Market (formerly the International Home Furnishings Market and the Southern Furniture Market), held in High Point, North Carolina, is the largest home furnishings industry trade show in the world, with over 10 million square feet by roughly 2000 exhibitors throughout about 180 buildings.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/f894797a-e7a4-41d6-a36d-b55397ee553e
https://www.globenewswire.com/NewsRoom/AttachmentNg/03f06325-c446-4df6-b7a6-6d703954d512
About Nova LifeStyle
Nova LifeStyle, Inc. is a well-established, innovative designer and distributor of modern lifestyle furniture; primarily sofas, dining room furniture, cabinets, office furniture and related components, bedroom furniture, and various accessories, in matching collections. Nova LifeStyle’s product lines include the Nova Brands and Diamond Sofa (www.diamondsofa.com). Nova's products feature urban contemporary styles that integrate comfort and functionality, incorporating upscale luxury designs which appeal to middle and upper middle-income consumers in the USA, China, Europe, and elsewhere in the world. Visit Nova LifeStyle's website at www.NovaLifeStyle.com.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, among others, our ability to fully resume our operations and remain financially healthy, our expected future growth prospects. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “should,” “will,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target,” “trajectory,” “focus,” “work to,” “attempt,” “pursue,” or the negative of these terms or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances.
Investor Relations Contact
Andrew Barwicki
516-662-9461
andrew@barwicki.com
ir@novalifestyle.com
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