Nova LifeStyle, Inc. (OTCQB 'STVS') Announces Its Acquisition Of The Bright Swallow International Group
LOS ANGELES, March 18, 2013 /PRNewswire/ -- Tawny Lam, President of Nova LifeStyle, Inc. confirmed their completion of the acquisition of Hong Kong based Bright Swallow International Group Limited. An established furniture company with a global client base, the Bright Swallow purchase will become an integral part of the Nova LifeStyle brand family.
Posting revenues of just over $14M for FY 2012, Bright Swallow's complementary product line and geographical reach will offer Nova LifeStyle an ideal opportunity to expand its overall global market presence.
One of Bright Swallow's current clients, Canadian based The Brick Limited ( www.TheBrick.com) has over 200 locations and provides an excellent example of this exceptional integration opportunity. This new brand also provides Nova LifeStyle with an excellent opportunity to market to existing Bright Swallow partners and increase its sales accordingly.
Registered in Hong Kong, Bright Swallow has grown steadily over the years and has an excellent management team in place that will become a part of the Nova LifeStyle Team.Nova LifeStyle, Inc. is very excited by this latest acquisition opportunity and continues to focus on the development of new relationships in its continuous pursuit of creating excellence in the form of fully integrated LifeStyle Home Furnishings Solutions. About Nova LifeStyle, Inc. Nova LifeStyle, Inc., a U.S. company headquartered in California, is a fast growing, innovative designer and manufacturer of modern LifeStyle furniture; primarily sofas, dining rooms, cabinets, bedrooms, and accessories in matching collections. Nova's products are made in the US, Europe, and Asia including LifeStyle brands such as Diamond Sofa ( www.diamondsofa.com), Colorful World, Giorgio Mobili, and others. Nova's products feature urban contemporary styles with comfort and functionality and upscale luxury designs appealing to LifeStyle conscious middle and upper middle-income consumers in the U.S., China, Europe and elsewhere in the world. To learn more about Nova LifeStyle, Inc., please visit www.novalifestyle.com. Safe Harbor Statement
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