LJ International Inc., a leading jewelry manufacturer and retailer, announced that its ENZO retail division has opened its 110th store to date. The newest store is located in the TFF Store, the first and only high-end luxury shopping mall in Tianjin, China.
To date, nine ENZO stores are currently opened in Tianjin, one of the largest cities in China with a population of approximately 12.8 million. The TFF Store is ENZO's largest location and will serve as the Company's flagship space within Tianjin, attracting both visitors and local consumers in the market for purchasing luxury merchandise.
"As LJI continues to expand its retail operations throughout China, a location in the TFF Store adds both presence and prestige to the ENZO name. ENZO's trademark colored-stoned jewelry caters to the growing middle class looking for affordable luxury. Being situated in one of the most well-known, high-end malls enables ENZO to capitalize on customer traffic from their target market. We are honored to be located within the TFF Store, as obtaining space in the mall is valuable to both our brand name and our business," stated Yu Chuan Yih, Chairman and CEO of LJ International Inc.
TFF Store is well known as the core store within the Tianjin Friendship department-store chain. It is considered a landmark property in the heart of Tianjin's retail district and is known for its collection of high-end brand retailers, elegant shopping environment, first-class customer service, and superior management standards. In 2007, TFF Store began an expansion project that will increase the property's retail space to approximately 40,000 square meters.
The TFF Store records annual sales approximating $1.5B (USD) per year, and has estimated a trajectory to exceed these numbers in 2010. These figures support the trend for continued demand of luxury items and increased amount of disposable income from Chinese consumers. Furthermore, TFF Store supports its vendors by driving customer traffic throughout the year by featuring monthly marketing themes and sponsoring holidays-specific, retail-related activities.
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