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Company Signs Agreement for 'More Stores' Listing In Jewelry Area of AOL's Shopping Channel
LAKE FOREST, Calif., June 10 /PRNewswire/ -- The L. L. Knickerbocker Co., Inc. (Nasdaq: KNIC) today announced it has launched its jewelry Web site www.Gemopolis.com the largest of its kind, offering jewelry at manufacture to consumer prices, and its newly expanded collectibles Web site www.knickerbocker.com offering nine branded groups and featuring top celebrity-endorsed products.
The Company also announced it has signed an agreement with America OnLine (NYSE: AOL), the world's leading interactive service, for a listing in the "More Stores" area of the Jewelry department of AOL's Shopping Channel. Knickerbocker will also have a presence in the relevant shopping areas of AOL.COM and CompuServe.
"The growth rate of E-commerce Internet sales have far surpassed the growth rate of the home shopping industry," said Louis L. Knickerbocker. "Our strategy is to channel more of our direct response business through the Internet. Our cost of sales on the Internet are significantly lower than our traditional distribution channels and we are continuing to strategically position the Company to take advantage of E-commerce. Our position is economically enhanced by the fact that everything that Knickerbocker sells on the Internet is manufactured by the Company."
"AOL has been the Company's best source of customers," added Mr. Knickerbocker. "Our new exclusive marketing agreement with AOL will serve to ensure our success in the future."
The newly designed Web sites feature the latest technologies available today which include electronic shopping cart, guaranteed encrypted credit card transaction processing, e-mail notification system, UPS(R) online tracking of orders, an American Airlines Frequent Flyer Mileage program, special club incentives and more.
According to Industry sources and a study conducted by the Gartner Group, the World Wide Web racks up more than 100 million impressions daily and that number doubles every 100 days. The US Department of Commerce estimates sales on the Internet will eclipse to $300 million by the year 2002.
Knickerbocker's Thailand facility in Bangkok is an internationally recognized vendor in the fine jewelry category. This subsidiary manufacturers and markets gold and silver and specializes in diamonds, emeralds, rubies, sapphires and other semi-precious stones worldwide in a Company-owned 40,000 square foot facility, making it possible for the Company to sell its Internet product at manufacture to consumer prices. The Company's branded fashion jewelry is endorsed by famous designers such as Kenneth Jay Lane, Nolan Miller, Barbara Mandrell and others.
Knickerbocker's collectibles consist of branded lines of porcelain dolls, vinyl dolls, teddy bears, figurines and collectible toys endorsed by celebrities such as Marie Osmond, Richard Simmons, Annette Funicello and others.
The L. L. Knickerbocker Co., Inc. sells collectible gifts and toy-related merchandise, primarily porcelain and vinyl dolls and teddy bears. The Company also designs, manufactures and markets fashion jewelry and accessories, in addition to offering an extensive line of fine jewelry products and supplying other jewelry manufacturers with loose cut stones. The Company's products are sold through diverse international distribution channels, including its own web sites, television shopping outlets, direct response sales and wholesale sales to retailers.
For more information, visit the Company's sites at www.knickerbocker.com and www.Gemopolis.com
This press release contains forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, which involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors affecting the Company's operations, markets, products, services and prices, and other factors. The Company's actual results could differ materially from those projected in the forward-looking statements as a result of the factors described herein.
SOURCE L.L. Knickerbocker Co.
/CONTACT: Louis L. Knickerbocker of L. L. Knickerbocker, 949-595-7900; or
Fran Daniels of Financial Sciences of America, 310-278-4413/
/Web site: gemopolis.com
/Web site: knickerbocker.com
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