SEATTLE, Sept. 15 /PRNewswire/ -- The Topaz Group, Inc.
(OTC Bulletin Board: TOPZ), one of the leading producers and distributors of
precious and semi-precious stones, as well as finished jewelry, today reported
that it has retained AFMI and Vectrix.com, both of the Dallas-Ft. Worth,
Texas, metropolitan area, to manage and process Internet orders and to handle
all Internet sales fulfillment, respectively. All of Topaz's Internet
operations will be managed from the Company's recently established Ft. Worth
office.
Topaz also announced today that it will launch its wholesale Internet site
during the fourth quarter of 1999. The launch is the first in a network of
web sites that will expand distribution of the Company's finished jewelry
products to both wholesale and retail customers. The site will allow
wholesale customers to expedite the ordering process through the ability to
place orders and view new designs from the Topaz collection of finished
jewelry on-line.
Commenting on the announcement, Jeremy Watson, Chairman of the Board of
The Topaz Group, Inc., said, "The completion of our e-commerce infrastructure
is a significant step as we build a solid foundation for the launch of our
network of e-commerce web sites. The ability to manage, process and fulfill
web-based sales is integral to our goal to provide our wholesale and retail
customers with a positive e-commerce experience.
"The launch of our wholesale e-commerce site during the fourth quarter
will allow us to significantly expand our wholesale customer base.
Wholesalers of all sizes, from mom and pop jewelers to national retail chains,
will now have 24-hour access to place orders and view our new designs.
"We look forward to working with our new partners Vectrix.com and AFMI as
we roll-out our wholesale and retail e-commerce sites. In addition, we are
excited about the opportunity to bring our customers the quality products they
expect from Topaz through this new and exciting medium."
AFMI, of Ft. Worth, Texas, is a full service mass marketing company that
specializes in web hosting, internet based e-commerce, high speed internet
connections, credit based financial products, merchant accounts, and
fulfillment. AFMI has strategic alliances with TANDY/RADIO SHACK, CompUSA PC
and is also a marketing partner with MAX Internet Communications, Inc., whose
technology is at the forefront of internet based video communications for
business and home applications. Additional information about AFMI can be
found at afmiservices.com.
Vectrix.com, based in Dallas, Texas, is an e-commerce company specializing
in end-to-end e-commerce solutions including e-commerce applications, web site
design and development, strategic marketing, media planning and buying, and
credit card transaction processing. Vectrix.com's e-commerce solutions are
developed with Vectrix's own EdgeworX 2000: E-Commerce Edition, Microsoft Site
Server, and IBM Net Commerce. Vectrix.com's strategic alliances include
Microsoft Corp., IBM, 3COM, Compaq, Cisco, Hewlett-Packard Company, and Dell.
Additional information about Vectrix.com and its products can be found at
vectrix.com.
The Topaz Group Inc. (http://www.topazgemgroup.com) is one of the leading
producers and distributors of precious and semi-precious stones, as well as
finished jewelry. With over 2,000 employees, Topaz produces in excess of
24 million carats of loose stones, and over 1.7 million pieces of gold and
silver jewelry annually. The Company maintains control over the entire gem
production process from mining, designing, cutting and polishing stones to
marketing and distributing finished product to department stores, wholesalers
and retail outlets. In addition, the Company is currently developing a
network of web sites with the goal of expanding distribution of its product to
both wholesale and retail customers.
Topaz's primary markets include the United States, Germany, France,
England and Japan. Over 70% of the Company's product is exported to North
America. Topaz's major customers include Wal-Mart, Sears, Home Shopping
Network, K-Mart, Vendome Yamaha Co., Take-Up Co. and QVC. The Company also
wholesales to major retailers such as Zales Corporation, Helzberg's, JC
Penny's, TJ Maxx and Mervins. The Company has offices in Thailand, Canada,
Brazil and the United States. The Topaz Group Inc. is listed on the Nasdaq
OTC BB and trades under the symbol TOPZ.
This press release contains forward-looking statements within the meaning
of Section 21E of the Securities Exchange Act of 1934, which represent the
Company's expectations or beliefs concerning future events. The Company
cautions that these statements are further qualified by important factors that
could cause actual results to differ materially from those in the forward
looking statements. Such factors include, without limitation, general
economic conditions, competition in the markets in which the Company's
operates and innovation in the jewelry industry. There can be no assurance
that the actual results, events or developments referenced herein will occur
or be realized. The Company assumes no obligation to update these forward-
looking statements to reflect actual results, changes in assumptions or
changes in factors affecting such forward-looking statements.
SOURCE Topaz Group, Inc.
-0- 09/15/1999
/CONTACT: Lamar Jensen, Director of Investment Relations of Topaz Group,
Inc., 425-201-6968; or Michael Smargiassi of Brainerd Communicators, Inc.,
212-986-6667, smarg@braincomm.com, for Topaz Group, Inc./
/Web site: vectrix.com
/Web site: afmiservices.com
/Web site: topazgemgroup.com
(TOPZ) |
