Ka Wang Announces That Their Wholesale Division Sales Are Expected to Double in 2007 Monday July 2, 8:30 am ET
LAS VEGAS, NV--(MARKET WIRE)--Jul 2, 2007 -- Ka Wang Holding, Inc. (Other OTC:KWGI.PK - News), parent company of Ka Wang Department Stores, located in Southern China, announces that their wholesale manufacturing division is growing faster than anticipated and should reach $40,000,000 for 2007 compared to $22,000,000 for 2006. The primary source of the wholesale revenues is for clothing manufactured for private label retailers. Mr. Mio Lok Tin, CEO of Ka Wang, said, "The future is very bright for the Company and expects that the increasing production requirements will continue through the fall and into next year."
ADVERTISEMENT About Ka Wang Holding, Inc.
Ka Wang Holding, Inc., parent company of Ka Wang Department Stores in Southern China, has been operating since 1980. Their main business is high-end designer clothing for men and women. Ka Wang carries many of the top brands and has joint ventured with the famous Italian design brand "Jagger" to be their sole agency in the Far East. From one store in 1980, Ka Wang has expanded into 70 retail stores (including the acquisition of Hunan Golden Dragon). They also have their own manufacturing factory where they design, research and develop their own clothing lines for wholesale and retail customers. With the standard of living in China improving, the general population is becoming more conscious of designer wear labels. Ka Wang's 2006 sales reached 80 million with net income exceeding 30%.
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
Contact:
For additional information, please contact: Ka Wang Holding, Inc. Ruzao Zheng (702) 995-0477 The Website address is http://jagger.com.cn