Novori (OTCBB: NOVO) Well
Positioned as Jewelry Becomes the #1 Fastest Growing Product Category for
Retail Sales Online
Wednesday
February 7, 9:00 am ET
BELLINGHAM,
WA--(MARKET WIRE)--Feb 7, 2007 -- Novori Inc. (OTC BB:NOVO.OB - News) -- www.novori.com -- a leading online interactive
retailer of fine diamond engagement rings -- is pleased to note that the online
jewelry retailers have captured the first place position for e-commerce sales
growth in the USA, rising from the third fastest growth industry in 2006. The
principal component propelling online jewelry sales growth rate is diamond
rings, engagement rings and other high-ticket items.
Jewelry sales, which
increased on average by 67 percent across the board, became the fastest growing
online product category. Sales of video games posted the second highest growth
rate at 64%, with video game consoles and accessories recording a 63% growth in
sales. Source: IDEX Online Research
IDEX Online research noted
that retail e-commerce now accounts for approximately 7 percent of consumers' U.S. retail spending (excluding gas, autos, and
food), making it an important component of the total U.S. economy.
"Novori is well
positioned to capitalize on consumer spending trends given its established
e-commerce presence, high customer satisfaction rate and superior value
proposition," commented Harold Schaffrick, CEO of Novori. "We expect
the 2007 to be a huge growth year for our brand and internet presence."
About
Novori Inc.
Founded in 2004, Novori is
a leading online interactive retailer of diamond engagement rings and fine
jewelry. Novori launched their website in 2005 and has built a well respected
brand by providing consumers with superior customer service and a better way to
buy diamond engagement rings. Novori prides its self on the highest quality
standards in the industry and provides consumers with unique online tools to
allow consumers to explore, build and purchase their own custom made diamond
rings in a way not previously offered by traditional retailers. The Novori.com
web site offers thousands of independently certified diamonds, settings and
fine jewelry at prices significantly below traditional retail. Novori's shares
are traded on the Over the Counter market (OTCBB) under the symbol NOVO.
Forward-Looking Statements
Except for the historical
information contained herein, the matters discussed in this press release are
forward-looking statements. Such statements are indicated by words or phrases
such as "believe," "will," "breakthrough,"
"significant," "indicated," "feel,"
"foresee," "revolutionary," "should,"
"ideal," "extremely," and "excited." These
statements are made under "Safe
Harbor" provisions
of the Private Securities Litigation Reform Act of 1995. Actual results may
differ materially from those described in forward-looking statements and are
subject to risks and uncertainties. See Novori's filings with the Securities
and Exchange Commission, including, without limitation, Novori's recent Form
10-KSB and Form 10-QSB, which identify specific factors that may cause actual
results or events to differ materially from those described in the
forward-looking statements.
Contact:
Contact:
Investor Relations:
1-888-646-5677
