NEW YORK--(BUSINESS WIRE)--June 16, 2000--THCG, Inc.
(NASDAQ:THCG), a leading architect and builder of global Internet
enterprises, is pleased to introduce ENJEWEL, the first company to
define and execute THCG's "clicks and bricks" sales and service
strategy for the online retailing of branded fine jewelry to
quality-conscious and service-conscious customers.
Known previously under its "working title" Designer Jewelry On
Line, ENJEWEL will be focused on the delivery of high-end retail
jewelry to consumers via its Web site www.enjewel.com - which is
expected to be launched by end of Summer 2000. Stemming from an
alliance of 16 prominent manufacturers and merchandisers of
quality-branded jewelry, retailers and manufacturers have joined
together to create the first luxury clicks and bricks jewelry sales
and services alliance of its kind.
*T
Founding retailers include:
-- Bachendorf's Diamond Cellars
-- Fink's Jewelers
-- Greve Jewelers
-- Hamilton Jewelers
-- Hyde Park Jewelers
-- Lee Michaels Jewelers
-- London Jewelers
-- Lux Bond & Green
-- Tivol Jewelers
Founding manufacturers include:
-- Honora
-- Lagos
-- Lazare Kaplan International
-- M. Fabrikant & Sons
-- Leslie & Penny for Penny Preville
-- Scott Kay Platinum
*T
Through this founding association of world class retailers and
manufacturers, ENJEWEL has attracted over 60 additional equity
partners including Christopher Designs, B.C. Clark, Diana, John Hardy
Collection, Charles Krypel, Lacy & Co., Tapper's Diamonds and Find
Jewelry, Tiny Jewel Box, Traditional Jewelers and Underwood Jewelers.
*T
During the intensive incubation period of ENJEWEL, which spanned
nearly six months, THCG:
-- managed the early-stage business development including the
authoring of its business plan;
-- determined and implemented operational strategies;
-- established technology and e-commerce protocols;
-- designed and executed marketing and branding initiatives; and
-- provided interim management and corporate leadership in the
form of THCG's President Larry Smith, who served as ENJEWEL's CEO.
*T
According to Smith, "THCG was founded on the principle that by
partnering with Internet entrepreneurs and traditional
brick-and-mortar companies seeking to migrate to the Internet, and by
providing them with our unique V3 added-value approach, which combines
venture development, venture banking and venture funding products and
services, THCG can be successful in building Internet businesses that
dominate their market space. ENJEWEL is an ideal example of how this
formula for success has been applied and enabled us to achieve the
precise results we were after."
Now that ENJEWEL is established and its business moving forward,
Sheldon L. Ginsberg, one of the original founding members of ENJEWEL,
will assume the helm as its new President and CEO. Ginsberg has been
charged with the responsibility of continuing to build the ENJEWEL
model and its distinctive all-inclusive affiliation of retailers and
manufacturers that ultimately benefits all members of the distribution
chain, including both domestic and international consumers. He will
also spearhead the expansion of the senior management team and oversee
the creation of a powerful e-commerce engine of designer and branded
products allowing the jewelry industry, through central warehousing
and fulfillment, to increase business-to-business efficiencies,
including real-time sales and inventory knowledge.
About THCG, Inc.
Based in New York City, THCG, Inc. is rapidly building a portfolio
of global Internet partnership businesses. Its incubation efforts
center around Web enabling technologies, including broadband,
wireless, communications, infrastructure, network security and supply
chain and customer relationship management. In addition, the Company,
which is also pursuing eCommerce and Web-content transactions with a
"bricks and clicks" focus, currently has equity positions in eight
early-stage partner companies including Convergence MediaGroup, Inc.
(www.cmg-us.com), ENJEWEL (www.enjewel.com), Global Credit Services,
Inc. (www.globalcreditservices.com), Globecom Interactive, Inc., IT
Utility, Inc. (www.itutility.com) and Test University, Inc (
www.testu.com).
THCG also holds investments in over 40 Internet and non-Internet
businesses it acquired through direct investment, equity for services
or acquisitions, including iBeauty.com (www.ibeauty.com);
insci-statements.com, Corp. (NASDAQ:INSI) (www.insci.com); Passport
New Media, Inc. (www.yourownworld.com), TechOnLine, Inc.
(www.techonline.com); RealTimeImage, Inc. (www.realtimeimage.com);
SoftWatch, Ltd. (www.softwatch.com); SunShine Media Corporation
(www.bikini.com) and webMethods, Inc. (www.webmethods.com).
Through its subsidiary THCG Giza Israel, a premier private equity
research house in Israel, the Company maintains an extensive database
of start-up companies and funding sources and provides information
regarding Israel's sizeable and rapidly growing venture capital
activity to institutions across the globe.
For more information, please visit the Company's Web site at
www.thcg.com.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: The statements contained in this release which are
not historical facts are forward-looking statements that are subject
to risks and uncertainties that could cause actual results to differ
materially from those set forth in or implied by such forward-looking
statements. These risks and uncertainties include the Company's entry
into new commercial businesses, the risk of obtaining financing, risks
associated with startup or early stage enterprises, the effect of
demand for public securities, activity in the secondary securities
markets, general economic, political and market conditions, and other
risks described in the Company's Securities and Exchange Commission
filings.
CONTACT: Continental Capital & Equity Corp., Longwood, Fla.
Dodi Handy, 407/682-2001 or dodi@insidewallstreet.com
KEYWORD: NEW YORK
INDUSTRY KEYWORD: E-COMMERCE INTERNET RETAIL
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