Yosen Group Opens First Super Specialty Store In Cooperation with China
HANGZHOU, China, March 11, 2013
HANGZHOU, China, March 11, 2013 /PRNewswire-FirstCall/ -- Yosen Group, Inc.
(stock symbol: YOSN) ("Yosen", or "the Company"), announced today that it
opened its first super specialty store in cooperation with China Telecom
Zhejiang. Operated by Yosen, the store is located in Hangzhou Century Lianhua
Hypermarket ("Century Lianhua") Yunhe Branch, a busy shopping center. Mr.
Zhenggang Wang, CEO of Yosen, Mr. Yunhua Jiang, Deputy General Manager of
China Telecom Hangzhou Branch, and Mr. Wenwu Liu, Deputy General Manager of
Zhejiang Lianhua Huashang Group Co., Ltd (which operates Century Lianhua), all
attended the opening ceremony.
Occupying a sales space of 60 square meters, approximately 646 square feet,
the Yosen sales room is a specialty store dedicated to China's leading telecom
operator China Telecom, and the best selling brands Apple and Samsung. In
support of this business venture, China Telecom provided a subsidy at roughly
RMB10,000 (approximately USD1,600) per 1 square meter (approximately 10.7
square feet), or about 30% of the total renovation cost. At the same time,
Samsung took charge of and subsidized the decoration and display of the entire
Samsung sales area pursuant to Samsung's standard.
On the first day of the store launch, Yosen generated gross sales of over RMB
170,000 (approximately USD27,200). This super specialty store is Yosen's
unique business model under which Yosen cooperates with China's dominant
telecommunication operators such as China Telecom.Besides that, Yosen also
cooperates with China Telecom's rival China Unicom. The ultimate goal is to a
provide top notch shopping convenience for consumers overall.
Yosen's CEO Mr. Zhenggang Wang commented, "The successful launch of the
superstore is a strong validation of Yosen's capability of integrating
multiple brands at one single outlet. Through this operation, we can
accomplish a number of objectives benefiting multiple parties. For example,
we can assist China Telecom Zhejiang's first step towards its Year 2013
transition to a specialty store sales model and improve customers' shopping
experience. We can also help Century Lianhua to bring mobile operators to
their stores. Further, we can meet our own objective of innovation and
break-through in our highly competitive environment, from selling a single
brand or operating a single brand counter to integrating multiple brands with
an innovative shopping environment and improving the service experience for
our shoppers all around. We want to introduce high quality products, provide
shopping guidance, enhance brand image, all of which is anticipated to
strengthen Yosen's competitiveness." This specialty store model has received
very positive feedback and strong support from Yosen's partners China Telecom
and Century Lianhua. Yosen expects the cooperation to continue and that more
stores will be opened this year in Zhejiang Province, where Yosen is based.
About Yosen Group, Inc.
Yosen Group is a leading wholesale distributor and retailer of 3C merchandise:
computers, communication products and consumer electronics. The company
specializes in wholesale distribution and retail sales of 3C products in
Eastern China, focusing on products that make life more comfortable,
convenient and connected. The company operates under the Yosen and Wang Da
brand names. For more information, visit http://www.yosn.com/.
Safe Harbor Statement
Certain statements in this press release, constitute forward-looking
statements for purposes of the safe harbor provisions under The Private
Securities Litigation Reform Act of 1995. These statements include, without
limitation, statements regarding the Company's future performance. The Company
has based these forward-looking statements largely on its current expectations
and projections about future events and financial trends that we believe may
affect our financial condition, results of operations, business strategy and
financial needs. Although the Company believes that the expectations
reflected in these forward-looking statements are reasonable, they do involve
assumptions, risks and uncertainties, and these expectations may prove to be
incorrect. Investors should not place undue reliance on these forward-looking
statements, which speak only as of the date of this press release. The
Company's actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of factors,
including those discussed in the periodic reports that are filed with the
Securities and Exchange Commission. All forward-looking statements
attributable to the Company or persons acting on its behalf are expressly
qualified in their entirety by these factors. The Company undertakes no duty
to update these forward-looking statements except as required by law.
For more information, please contact:
SOURCE Yosen Group, Inc.
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