VIASPACE Subsidiary Inter-Pacific Arts Increasing Sales, Expanding Distribution of Framed Art
IRVINE, Calif., Oct 26, 2009 /PRNewswire-FirstCall via COMTEX/ -- VIASPACE Inc. (OTC Bulletin Board: VSPC) announced that its framed-art subsidiary Inter-Pacific Arts (IPA) has signed sales contracts with four new customers including two large furniture chain-retailers on the East Coast and two high-volume furniture wholesalers that sell through catalogs and outlet stores. Shipments are expected to begin before this year's holiday season.
IPA is also in discussions with other retailers and wholesalers, including "big box" wholesale-to-the-public membership clubs.
The economic downturn has affected all areas of consumer spending, but IPA's strategy to continue to increase its customer base is expected to enhance sales growth in future periods, as economic activity and consumer spending recover.
IPA President Sung Chang commented: "We see the current situation as an opportunity to expand our distribution network. To realize this growth opportunity, we are increasing focus on our competitive strengths -- high-quality artwork, product selection, and pricing -- to not only attract new customers but also retain existing customers. Our ability to fulfill high-volume orders and make timely deliveries were also key factors in signing our newest customers. Overall, we feel our commitment to customers places IPA in an excellent position for long-term growth."
VIASPACE Chief Executive Carl Kukkonen added: "Our framed art is of the highest quality, and each customer receives a unique product in terms of the art, mattes and frames. Furthermore, we guarantee that all royalties have been paid to the artists, which are important considerations for our customers and differentiate IPA from companies that mass-produce low-end framed art, or use unauthorized prints that violate copyright law. " |
