Winter Storm Disrupts Northeast Travel as Snow and Ice Blanket New York, New Jersey 
Hyundai Recalls Over 51,000 Vehicles in the U.S. Due to Fire Risk From Trailer Wiring Issue 
California DMV Proposes New Safety Rules for Autonomous Vehicles After Waymo Incidents 
Winter Storm Devin Triggers Massive Flight Cancellations and Travel Disruptions Across the U.S. 
Trump Administration Probes Corporate DEI Programs, Raising Questions for Google Stock 
Lockheed Martin Secures $92.8M AEGIS Sustainment Contract from U.S. Navy 
BP’s Castrol Stake Sale Raises Debt Relief Hopes but Sparks Cash Flow Concerns 
China’s Iron Ore Buyer Pressures Mining Giants as New Supply Shifts Market Power 
Novo Nordisk and Eli Lilly Cut Obesity Drug Prices in China, Boosting Access to Wegovy and Mounjaro 
Royalty Pharma Stock Rises After Acquiring Full Evrysdi Royalty Rights from PTC Therapeutics 
Hanwha Signals Readiness to Build Nuclear-Powered Submarines at Philly Shipyard for U.S. Navy 
Applied Digital Stock Rises on AI Cloud Spinoff Plan and ChronoScale Launch 
Boeing Secures $8.6 Billion Pentagon Contract for F-15 Jets for Israel 
Warner Bros. Discovery Shares Slide Amid Report of Potential Paramount Skydance Lawsuit 
China’s LandSpace Takes Aim at SpaceX With Reusable Rocket Ambitions 
Citigroup to Exit Russia With Sale of AO Citibank to Renaissance Capital 
Star Entertainment Leadership Shake-Up Deepens as CFO and COO Exit Amid Ongoing Restructuring 
LOS ANGELES, March 08, 2016 -- Nova LifeStyle, Inc. (NASDAQ:NVFY) ("Nova LifeStyle" or the "Company"), a U.S.-based, innovative designer, manufacturer and distributor of modern LifeStyle furniture, is pleased to provide an update on its growing relationship with IKEA. Ms. Tawny Lam, Nova LifeStyle’s President, noted that “IKEA continues to be a trusted partner for Nova LifeStyle in the China market. Our relationship continues to grow as we added new SKUs last year and anticipate continued product line expansion in the future.”
In order to maximize its relationship with IKEA, Nova LifeStyle has been invited to visit both IKEA headquarters and two top suppliers in Sweden. The Company is looking to these meetings as valuable opportunities to learn new technological methods to improve its production KPI while also gaining cost efficiencies. According to Ms. Lam, “At Nova LifeStyle we are always seeking ways to improve our organization, from our sales efforts to our operational and production procedures. This reflects our belief that our products need to constantly evolve in concert with the tastes and preferences of our customers.”
IKEA is a company noted for its sleek designs and efficient production. By virtue of its partnership with IKEA, Nova LifeStyle hopes to gain insight into various ways in which its own operations can be improved. In doing so, the Company believes it can better serve its customers while also delivering improved results for shareholders.
About Nova LifeStyle
Nova LifeStyle, Inc., a NASDAQ Global Markets Exchange listed company headquartered in California, is a fast growing, innovative designer, manufacturer and distributor of modern LifeStyle furniture; primarily sofas, dining rooms, cabinets, office furniture and related components, bedrooms, and various accessories in matching collections. Nova's products are made in the US, Europe, and Asia and include LifeStyle brands such as Diamond Sofa, Colorful World, Giorgio Mobili, Nova QwiK, and Bright Swallow International. Nova's products feature urban contemporary styles that integrate comfort and functionality incorporating upscale luxury designs appealing to LifeStyle-conscious middle and upper middle-income consumers in the U.S., China, Europe, and elsewhere in the world. To learn more about Nova LifeStyle, Inc., please visit our website at www.NovaLifeStyle.com
Safe Harbor Statement
All statements in this press release that are not historical are forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the Company's expectations. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect Nova's current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in Nova's filings with the Securities and Exchange Commission.
Company Contact: Investor Relations The Equity Group Inc. In U.S. Adam Prior, Senior Vice President +1 (212) 836-9606 [email protected] In China Katherine Yao, Senior Associate +86-10-6587-6435 [email protected]
