IS THIS OUT YET.
D.G. Jewellery and Bid.com International Inc. Launch Joint On-Line Venture
TORONTO--(BUSINESS WIRE)--Jan. 28, 1999--D.G. Jewellery of Canada Ltd. (Nasdaq:DGJLF) and Bid.Com International Inc. (BII:TSE), one of North America's leading on-line auctions, have announced an Agreement to launch a new and comprehensive Jewelry Boutique on Bid.Com's web-site.
All products offered for auction will be supplied exclusively by D.G. Jewellery. On-line auctions of jewelry product are expected to commence the first week of February 1999, in time for Valentine's Day shopping.
Product categories will include rings, earrings, bracelets, and pendants. Metals to be featured will be platinum, 18K, 14K, and 10K gold, as well as sterling silver. The jewelry will contain diamonds, precious, and semi-precious stones.
Jack Berkovits, Chairman and CEO of D.G. Jewellery stated: "We have committed to become the dominant jewelry player in cyberspace. This new venture gets us there in one fell swoop. We have chosen our partners well, and are pleased and honored to partner with Bid.Com and its management team who share our zeal and commitment to the customer."
Jeff Lymburner, President of Bid.Com commented: "Our move into jewelry is a further step toward our stated objectives of diversifying our product offering and creating additional revenue streams. Successful test marketing in 1998 made this category a priority for 1999. With D.G. Jewellery's reputation and expertise in product value and efficient order fulfillment, we have found an excellent partner to make our vision our reality."
D.G. Jewellery recently announced the formation of an Internet Task Force, spearheaded by Daniel Berkovits, formerly an investment banker at Scotia McLeod. Daniel Berkovits commented: "The prospects for e-tailing are beyond staggering. This is clearly the future, and D.G. Jewellery will be leading the parade. Jewelry is the perfect commodity for Internet retailing and we hope to continue our pioneering role.
About Bid.Com International
Bid.Com, founded in 1995, has offices in Toronto and Tampa, Florida, and is one of the Internet's leading online sales organizations. The company offers a compelling, entertaining, and cost-effective method of selling a wide array of goods and services over electronic distribution channels. The company has established a number of strategic alliances, which include America OnLine Inc. and Rogers Media Inc. Bid.Com is strategically positioned to leverage its technological leadership by offering the pre-eminent on-line auction platform for license to business-to-business markets and for distribution through broadband/cable media. The company's shares have traded on The Toronto Stock Exchange since February 1998.
D.G. Jewellery of Canada Ltd. is primarily engaged in the design, manufacture, merchandising and distribution of stone-set jewelry for department stores, mass merchants, catalogue showrooms, television shopping networks and other high volume retailers and other major discounters.
The Company maintains a broad base of customers concentrated in four major jewelry segments: -0- *T i) department stores such as J.C. Penney and Saks Fifth Avenue ii) specialty markets such as, QVC Inc., Home Shopping Network, ValueVision International, Shop at Home, QVC England, QVC Germany
and The Shopping Channel (Canada) iii) jewelry chain stores such as Zales, Gordons, Friedmans and others iv) mass merchandisers such as Wal-Mart and Zellers *T
Except for the historical information contained herein the matters discussed in this press release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based on a number of factors, including, but not limited to, risks in product demand, the impact of competitive products and pricing, changing economic conditions, both here and abroad, release and sales of new products, and other risk factors detailed in the Company's most recent annual report, and filing with the Securities and Exchange Commission.
CONTACT:
D.G. Jewellery of Canada Ltd.
Jack Berkovits or Gary Davis, 416/665-8844
Canada, 800/387-3756
From USA, 800/345-9579
dgjewel@aol.com
dgjewellery.com
or
Consulting for Strategic Growth, Ltd.
Stanley Wunderlich, 516/625-4523
From USA & Canada, 800/625-2236
cfsg@iname.com
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