RESEARCH
TRIANGLE PARK, N.C., April 13,
2023 /PRNewswire/ -- Charles & Colvard, Ltd.
(Nasdaq: CTHR), a globally recognized fine jewelry company that
specializes in moissanite and lab grown diamonds announced a new
strategic retail partnership with XCEL Brands' Longaberger. In the
near term, the relationship will showcase an assortment of its
product brand Moissanite by Charles & Colvard® on
the Longaberger website.
"We are pleased to announce our new partnership with Longaberger
and believe our commitment to superior quality and standards is
well aligned with their reputation to build a community of
like-minded brands," said Don
O'Connell, President, and CEO of Charles & Colvard.
A new "friend" to Longaberger, Charles & Colvard has been a
strong presence in the global lab grown market for nearly three
decades, most notably known for their Made, Not Mined™ gems
and fine jewelry. They believe their conscious approach to bridal,
high fashion, and everyday jewelry is the future, and will enable
Longaberger's community to experience their products firsthand.
"After 100 years of strengthening the bonds of craftspeople and
consumers, Longaberger is proud to continue that mission by
partnering with Charles & Colvard. Longaberger is leading a new
wave of capturing a market segment with our proprietary
livestreaming and social commerce platform," said Robert D'Loren,
CEO & Chairman of the Board of Xcel Brands.
To explore Longaberger's curated assortment of Charles &
Colvard's fine jewelry, visit their website at Longaberger.com.
About Charles & Colvard, Ltd.
Charles & Colvard, Ltd. (Nasdaq: CTHR) believes that fine
jewelry should be as ethical as it is exquisite. Charles &
Colvard is the original creator of lab grown moissanite (a rare
gemstone formed from silicon carbide). The Company brings
revolutionary gems and fine jewelry to market by using exclusively
Made, Not Mined™ above ground gemstones and a
dedication to 100% recycled precious metals. Their Forever One™
moissanite and Caydia® lab grown diamond brands provide
exceptional quality, incredible value and a conscious approach to
bridal, high fashion, and everyday jewelry. Charles & Colvard
was founded in 1995 and is based in North
Carolina's Research Triangle
Park region. For more information, please visit
www.charlesandcolvard.com.
About Longaberger
Longaberger, founded by Dave
Longaberger in 1973, is an American home collectibles brand
known for artisanal handcrafted products. For generations, the
Longaberger family has manufactured handmade maple wood baskets and
other home products that have been collected by a loyal community
of customers. In 2019, Xcel Brands acquired The Longaberger Company
and launched with a new digital social selling business model,
offering timeless and new modern décor products that inspire a
highly engaged community. To join the Longaberger Family as a Home
& Life Stylist Program, visit
https://longaberger.com/pages/longaberger-family-sales-program and
for more company information, visit the website at longaberger.com
or on social media at @longaberger, #longaberger and
#thelongabergerfamily.
About Xcel Brands
Xcel Brands, Inc. (NASDAQ:XELB) is a media and consumer products
company engaged in the design, production, marketing, wholesale,
and direct-to-consumer sales of branded apparel, footwear,
accessories, jewelry, home goods and other consumer products, and
the acquisition of dynamic consumer lifestyle brands. The company
has sold in excess of $3BB US in retail sales through live
streaming on TV. Xcel was founded by Robert W. D'Loren in 2011 with
a vision to reimagine shopping, entertainment, and social media as
one. Xcel owns the Isaac Mizrahi, Judith
Ripka, Halston, and C. Wonder brands, and it owns and
manages the Longaberger brand through its controlling interest in
Longaberger Licensing LLC, pioneering a ubiquitous sales strategy
which includes the promotion and sale of products under its brands
through interactive television, brick-and-mortar retail, e-commerce
and peer to peer channels. Headquartered in New York City, Xcel Brands is led by an
executive team with significant livestream production,
merchandising, design, production, marketing, retailing, and
licensing experience, and a proven track record of success in
elevating branded consumer products companies. With an experienced
team of professionals focused on design, production, and digital
marketing, Xcel maintains control of product quality and promotion
across all of its product categories and distribution channels.
Xcel differentiates by design. www.xcelbrands.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Statements expressing expectations regarding our future
and projections relating to our products, sales, revenues, and
earnings are typical of such statements and are made under the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements include, but are not limited to,
statements about our plans, objectives, representations, and
contentions and are not historical facts and typically are
identified by use of terms such as "may," "will," "should,"
"could," "expect," "intend," "plan," "anticipate," "believe,"
"estimate," "predict," "continue," and similar words, although some
forward-looking statements are expressed differently.
All forward-looking statements are subject to the risks and
uncertainties inherent in predicting the future. You should be
aware that although the forward-looking statements included herein
represent management's current judgment and expectations, our
actual results may differ materially from those projected, stated,
or implied in these forward-looking statements as a result of many
factors including, but not limited to, (1) our business and our
results of operations could be materially adversely affected as a
result of general economic and market conditions; (2) our future
financial performance depends upon increased consumer acceptance,
growth of sales of our products, and operational execution of our
strategic initiatives; (3) we face intense competition in the
worldwide gemstone and jewelry industry; (4) we are subject to
certain risks due to our international operations, distribution
channels and vendors; (5) our business and our results of
operations could be materially adversely affected as a result of
our inability to fulfill orders on a timely basis; (6) we may
experience quality control challenges from time to time that can
result in lost revenue and harm to our brands and reputation; (7)
our operations could be disrupted by natural disasters; (8) sales
of moissanite and lab grown diamond jewelry could be dependent upon
the pricing of precious metals, which is beyond our control; (9)
our current customers may potentially perceive us as a competitor
in the finished jewelry business; (10) we depend on a single
supplier for substantially all of our silicon carbide, or SiC,
crystals, the raw materials we use to produce moissanite jewels; if
our supply of high-quality SiC crystals is interrupted, our
business may be materially harmed; (11) if the e-commerce
opportunity changes dramatically or if e-commerce technology or
providers change their models, our results of operations may be
adversely affected; (12) the execution of our business plans could
significantly impact our liquidity; (13) negative or inaccurate
information on social media could adversely impact our brand and
reputation; (14) environmental, social, and governance matters may
impact our business, reputation, financial condition, and results
of operations; and (15) our failure to maintain compliance with The
Nasdaq Stock Market's continued listing requirements could result
in the delisting of our common stock, in addition to the other
risks and uncertainties described in more detail in our filings
with the U.S. Securities and Exchange Commission (the "SEC"),
including our Annual Report on Form 10-K for the fiscal year ended
June 30, 2022 and subsequent reports
filed with the SEC. Forward-looking statements speak only as of the
date they are made. We undertake no obligation to update or revise
such statements to reflect new circumstances or unanticipated
events as they occur except as required by the federal securities
laws, and you are urged to review and consider disclosures that we
make in the reports that we file with the Securities and Exchange
Commission, or SEC, that discuss other factors relevant to our
business.
Company Contact:
Clint J. Pete, Chief
Financial Officer, 919-468-0399,
ir@charlesandcolvard.com
Investor Contact: Lytham Partners, Robert Blum, Managing Partner; Adam Lowensteiner, Vice President, (646)
829-9702, cthr@lythampartners.com
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SOURCE Charles & Colvard, Ltd.