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House of Taylor expects $30 million-plus in 2006 sales

January 09, 2007

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West Hollywood, Calif.—A preliminary financial review indicates it was a good year for House of Taylor Jewelry, which expects 2006 sales to exceed the $30 million threshold established in relation to the placement of the company's senior convertible notes and warrants in May 2006.

The company had $5.6 million in sales for 2005 and exceeded its initial 2006 sales threshold of $14 million for the first nine months of 2006.

"The strong sales growth achieved in 2006 reflects increased market penetration and demand for HOTJ's branded jewelry collections and certified loose-diamond products from jewelers and distributors in the United States and select international markets," House of Taylor Jewelry President and CEO Jack Abramov said in a statement.

He added that the fourth-quarter diamond program was key in gaining traction and ramping up sales of the company's traditionally higher-margin fine-jewelry lines. In addition, Abramov said celebrity jewelry brands from Elizabeth Taylor and Kathy Ireland also provided a competitive advantage in retail markets.

"We fully expect to achieve further growth and progress as 2007 unfolds," he said.
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