BYE BYE Yahoo, hello Lycos!!!
Company Press Release
Lycos to Feature D.G. Jewellery Products
TORONTO, Ontario--(BUSINESS WIRE)--Feb. 24, 1999--D.G. Jewellery of Canada Ltd. (Nasdaq:DGJLF - news) one of North America's largest jewelry manufacturers, today announced an agreement with Lycos, Inc. (Nasdaq:LCOS - news), the second most visited hub on the Internet and the world's largest on-line community, to feature products designed, created and manufactured by D.G. Jewellery on the Lycos Network. The agreement will provide access to D.G. Jewellery's products to 46.5% of all web users representing many millions of targeted consumers. Product categories will include rings, earrings, bracelets, and pendants. Metals featured will include platinum, 18K, 14K, and 10K gold, and sterling silver. The jewelry will contain diamonds, and precious and semi-precious stones. Prices will range from U.S. $30 dollars to U.S. $30,000 dollars.
Jack Berkovits, Chairman and CEO of D.G. Jewellery commented: ''We have collectively resolved to become the dominant jewelry player in cyberspace. Partnering with an established and respected name like Lycos gets us there that much faster. Lycos provides us with a targeted buy that allows us to focus specifically on the buyer profile we have identified through years of successful relationships with established retailers. I believe our bold E-commerce initiatives will continue to benefit our shareholders as we capitalize on the enormous popularity and growth of the Internet. Our previously announced agreement with Bid.com (TSE:BII - news), one of the world's leading auction sites, coupled with our present agreement with Lycos, will guarantee the greatest possible distribution of our complete jewelry offering.''
About Lycos
Founded in 1995, Lycos, Inc. (Nasdaq:LCOS - news) is a leading Web media company and owner of the Lycos Network, the second most visited hub on the Internet reaching 46.5 percent of Web users. The Lycos Network is a unified set of web-sites that attracts a diverse audience by offering a variety of services including leading web navigation resources, homepage building and other web community services and a comprehensive shopping center. The Lycos Network is composed of premium sites: Lycos.com, Tripod, WhoWhere, Angelfire, MailCity, HotBot, HotWired Wired News, Webmonkey and Suck.com, Lycos.com (www.lycos.com), ''Your Personal Internet Guide'', is dedicated to helping each individual user locate, retrieve and manage information tailored to his or her personal interest. Headquartered near Boston in Waltham, Mass., Lycos, Inc. is a global Internet leader with a major presence throughout the U.S., Europe and Asia.
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 six major jewelry segments:
i) Internet retailers, auctioneers and other web merchants
ii) department stores such as J.C. Penney and Saks Fifth Avenue
iii) specialty markets such as, QVC Inc., Home Shopping Network,
ValueVision International, Shop at Home, QVC England, QVC Germany
and The Shopping Channel (Canada)
iv) jewelry chain stores such as Zales, Gordons, Friedmans and others
v) mass merchandisers such as Wal-Mart and Zellers
vi) with USA acquisitions in fold, D.G. Jewellery is increasingly
exporting to the USA and demonstrating its ability to "deliver
the goods"
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.
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