Message #1 From:
NewsBot Date: September 13, 2006 03:00:00 AM
ABZA News Abazias Featured in IDEX Profile on Online Jewelers Gaining Significant Market Share
GAINESVILLE, Fla.--(BUSINESS WIRE)--Sept. 13, 2006--Abazias Diamonds, which now trades under (OTCBB:ABZA) and whose previous symbol was (ABZS), was recently featured in an IDEX (International Diamond Exchange) feature about Online Jewelers Gaining Significant Market Share. This article, which paired Abazias with the likes of larger organizations like Blue Nile and Odimo, says online jewelers are not only putting pricing pressure on store-based retailers, but their online financial model is also causing traditional jewelers to re-think their business model.
"We are thrilled to be recognized for our savvy marketing and sound pricing," states Oscar Rodriguez, CEO of Abazias. "We have utilized this business model since our inception, and it appears as if the world, and bigger companies like Blue Nile are taking notice."
The IDEX article goes on to note that Abazias has made noticeable progress in increasing market share in the online jewelry industry, with revenues up by 46 percent to $1.1 million in the three months ended June 2006 versus the same period last year; gross margin down to 13.2 percent from last year's 16 percent; and by a slight shift in the sales mix as well as higher commodity prices had a negative impact on the gross margin.
Jewelry Sales Trends - Online Retailers vs. Industry
Second Quarter 2006
Blue Nile 29.90%
Bidz.com 79.70%
Odimo -61.90%
Abazias 46.30%
Industry 7.50%
Abazias.com showcases over 80,000 diamonds, valued at over $400 million on its site at www.abazias.com. Most of Abazias.com's diamonds are GIA, AGS or EGL certified. Abazias.com offers the "Couples Diamond(R)," which is required to meet even higher standards for cut, clarity and dimensions. Abazias.com is also a full-service jeweler offering a large selection of settings for stones purchased. For more information about Abazias.com, visit the Company's website at www.abazias.com.
This press release may contain statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
