Novori Inc. Discusses Revenue Growth
in Live MN1.com Interview
Wednesday June 13, 5:29 pm ET
BELLINGHAM, WA--(MARKET WIRE)--Jun
13, 2007 -- Harold Schaffrick, CEO and president of Novori Inc. (OTC BB:NOVO.OB - News), will be featured live
on Market News First for an exclusive interview. The interview is scheduled for
Thursday, June 14, 2007, at 12:30 p.m. CDT, and can be viewed live at www.mn1.com. The interview will focus on the
continuous growth of the company and the overwhelming demand in online jewelry
sales.
Novori recently announced that
revenues for the quarter ending Feb. 28, 2007, were up 53 percent as compared
to the same quarter in the previous year.
The Company attributes the 53
percent growth in revenues to increased consumer awareness of Novori and to the
Company's (www.novori.com) Web site
consistently ranking high on the search engines. To date, 90 percent of
Novori's customers are purchasing diamond engagement rings. The online jewelry
industry has undergone an upsurge of general popularity, increasing revenues of
Novori's competitor, Blue Nile, by 34 percent and Abazias'
by 48 percent.
"We are pleased with the growth
in sales. It is interesting to note that this increase has come about without
any significant extra marketing expenditure. I am confident that with planned
marketing initiatives, we will grow revenues at an even greater pace,"
commented Schaffrick. "It's also nice to know we're growing sales at a
faster rate than our competitors."
Novori is well positioned to become
a leading player in the emerging marketplace of online diamond engagement ring
sales as larger numbers of Internet-savvy consumers embrace the
"no-pressure" online shopping experience.
With consumers becoming more
comfortable with buying luxury goods online, jewelry is a category that's
gaining momentum. According to Jupiter Research, in 2004 U.S. online sales of
fine jewelry grew 19.3 percent from the prior year to $1.7 billion.
Furthermore, according to Forrester's Research, "An increase in the number
of women shoppers will contribute to 14 percent of jewelry sales moving online
by 2010."
To learn more about Novori and how
it has strategically positioned itself for success in such a competitive
marketplace, join the MN1 news crew and Schaffrick for a live look at the
company Thursday, June 14, 2007, at www.mn1.com.
About MN1.com
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