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House of Taylor up in revenues
Will expand selling Kathy Ireland Jewelry line
By: Diamond World News Service
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Aug 14 2007 12:00AM
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Reference: 1094  

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House of Taylor has multiplied its performance for the second quarter of 2007, by good numbers. Its net sales increased two times to US$4.8 million, from US$2.5 million in the same period a year ago. Brands like Dame Elizabeth Taylor and Kathy Ireland Jewelry along with loose diamonds generated a whooping sales of US$3.5 million.

A net profit of US$25,000 was welcomed compared to the net loss of US$290,000 in the same period of 2006. Also, the gross profit scaled high to US$764,000 in comparison to US$174,000 in the same period of 2006.

House of Taylor’s half yearly performance, indicated net sales to more than double to US$9.3 million from US$3.8 million for the same period in 2006. Gross profit also increased to US$1.3 million compared to US$184,000 during the first half of the previous year.

Says Jack Abramov, President and Chief Executive Officer of the company. “We are particularly pleased with the demand, independent door penetration and sell thru for our Kathy Ireland Jewelry line, which targets the broader spectrum of consumers with price points from $200 to $3,500.” Abramov continues, “Going forward, we expect to ramp-up sales, further increase market awareness and expand Kathy Ireland bridal, diamond and fashion assortments in the most frequently purchased categories.”

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