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From Home Furnishing Business

Nova LifeStyle Lines Up Vendors for E-Commerce Platform

Nova LifeStyle (NASDAQ: NVFY) is moving forward with its e-commerce and digital initiatives.

The company has secured letters of intent from more than 100 furniture brands who plan to make their product available on Nova LifeStyle's dedicated e-commerce website for home furnishings. Earlier this year, Nova said it was developing an e-commerce platform geared toward the growing middle class in China and an online demand for for furniture and home furnishings in that country.

In addition to lining up partners, the company said it plans to launch a new Mobile Device Application in the fourth quarter of fiscal 2014. The mobile app will provide China-based consumers and the company's China-based franchisees with a new digital and user-friendly way to complete transactions. Consumers will also be able to download the app and review Nova LifeStyle products at home.

"We are very pleased with the progress we are making on our e-commerce and digital initiatives," said Tawny Lam, president of Nova LifeStyle. "These letters of intent are a strong endorsement of the opportunity of our e-commerce platform to become a one-stop furniture and home furnishings shopping destination for consumers in China. Additionally, the launch of our mobile app will satisfy the demand of consumers in China to shop how, when and where they want. We believe that, once completed, both our e-commerce platform and mobile app will drive incremental sales for us in China, increasing our penetration and share of that market, one of our key growth initiatives."



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