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Decorize's Faith Walk Designs Achieves Record Sales at High Point Market Third Consecutive Month of Profitability
SPRINGFIELD, Mo., Nov. 15 -- Faith Walk Designs, a division of Decorize, Inc. (OTC Bulletin Board: DCRZ), an emerging provider of direct sourcing solutions for the global home decor market, announced today that it posted record sales at the world's largest home furnishings market, High Point Market, North Carolina. Since Decorize acquired Faith Walk in July of 2001, the division has achieved profitability for the three month period ended October 31, 2001.
CEO of Decorize, Inc., Jon Baker, said, "The successful integration of our business model into Faith Walk has created several opportunities for the division to aggressively capture sales. Since our acquisition, Faith Walk has been able to introduce 100 new furnishing items and improve their margins by as much as 40%. We are pleased to report Faith Walk Designs has achieved profitability each month it has been a division of Decorize." Faith Walk Designs, a leading supplier of premium hand-painted and heirloom furniture, reported sales nearly doubled, as compared to any other High Point market the division has participated in. Total market sales included a record order from one of America's largest retailers. Michael Sandel, president of Faith Walk Designs, stated, "By utilizing Decorize's leading-edge source-to-business model, we have opened our doors to the large-scale retail segment. The model has allowed us to reduce our wholesale price points by nearly half, while expanding our margins. By implementing this new value structure, our small retail business has also exceeded our expectations. We believe our strong sales results are indicative of a future upward growth trend." The High Point Market, located in North Carolina, draws more than 75,000 industry professionals, buyers, exhibitors and sales representatives from all 50 states and 110 countries around the world. The forum brings together buyers and sellers of home furnishings into one market, where manufacturers choose to introduce new products, styles, finishes and marketing concepts. Each April and October, High Point earns the right to be called #1 in the industry. With over 9.5 million square feet of exhibition space, the sheer size and scope of the High Point Market easily surpasses any other home furnishings event held anywhere in the world. Decorize, Inc. is the proprietor of a breakthrough sourcing, logistics and technology model that reduces the non-value added costs that have traditionally been channeled into the home furnishings category. The Company strips away layers of handling and storage steps to deliver product directly from the Far East to the doors of retailers, at unprecedented cost savings. The Company's business model affords aggressive savings of up to 70% for large retailers and 30% for small retailers. For the first time in the industry, small retailers can ship directly from the Far East on a minimum order of $250 utilizing a "one-price" approach that includes freight charges, while enjoying cost savings of 30% over wholesale prices. Decorize offers over 10,000 SKUs through its brands: Faith Walk, GuildMaster and decorize.com. For more information on the Company and its products, visit www.decorize.com. Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. |
