Charles
& Colvard, Ltd. (NASDAQ Global Select Market: CTHR), the sole
manufacturer of created moissanite gemstones, The Most Brilliant
Jewel in the World®, announced today the
appointment of Michelle Jones as President of Charles & Colvard’s newest
Direct Sales Division, Lulu AvenueTM, effective
Monday, April 29, 2013.
Michelle Jones, President, Lulu Avenue
Ms. Jones is a dynamic, results-driven leader with 17 years of
experience in direct sales. She began her career with Avon Products in
Canada, quickly gaining a reputation for consistently generating
profitable sales growth through the development and management of her
team. While at Avon, she was promoted to positions of increasing
responsibilities, moving into various sales and operations management
leadership roles that culminated in her having oversight of Avon’s U.S.
West Coast Area, which included over 125,000 independent
representatives, 242 Avon associates, and $300M+ in annual revenue.
Most recently, Ms. Jones served as Executive Vice President of Take
Shape for Life, Medifast's $220M subsidiary and largest revenue channel,
where her focus on improving health coach and client acquisition within
the field organization contributed to double digit acquisition and
revenue growth for the company. At Medifast, Ms. Jones led sales,
training, marketing and operations and was responsible for the
development and implementation of its long-term growth strategies and
initiatives. Ms. Jones is an active member of the Direct Selling
Association, currently serving as Chair of the Member Services Committee.
“This step marks another milestone in preparing to fully launch Lulu
Avenue in the Fall of 2013, following the integration of JudeFrances
jewelry designs earlier this year,” commented Randy McCullough, Chief
Executive Officer of Charles & Colvard, Ltd. "We are delighted to add
Michelle to our executive management team. We believe that her highly
successful direct sales experience will positively influence Lulu
Avenue's future success.”
“I am excited to be joining Charles & Colvard and Lulu Avenue this early
on as we develop this unique social selling business model. Lulu Avenue
offers an industry first within the direct selling market place,
offering the stunning JudeFrances branded designer line, while allowing
women to be able to acquire designer quality jewelry at affordable
prices. This combination, coupled with the striking brilliance of the
stunning moissanite collection, makes the Lulu Avenue opportunity unique
for both the consumer and independent Style Advisor,” stated Ms. Jones.
“Lulu Avenue has a talented team in place and I am excited to leverage
those talents along with my 17 years of direct selling experience, while
creating a brand consumers love and earning opportunities for those
seeking them.”
About Charles & Colvard, Ltd.
Charles & Colvard, Ltd., based in the Research Triangle Park area of
North Carolina, is the global sole source of moissanite, a unique,
near-colorless created gemstone that is distinct from other gemstones
and jewels based on its exceptional fire, brilliance, luster,
durability, and rarity. Charles & Colvard Created Moissanite®
and Forever Brilliant® are currently
incorporated into fine jewelry sold through domestic and international
retailers and other sales channels. Charles & Colvard, Ltd.’s common
stock is listed on the NASDAQ Global Select Market under the symbol
“CTHR.” For more information, please visit www.charlesandcolvard.com.
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 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,” “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, our dependence on consumer acceptance and growth of
sales of our products resulting from our strategic initiatives;
dependence on a limited number of customers; our ability to fulfill
orders on a timely basis; the financial condition of our major
customers; dependence on Cree, Inc. as the sole current supplier of the
raw material; our current wholesale customers’ potential perception of
us as a competitor in the finished jewelry business; intense competition
in the worldwide jewelry industry; general economic and market
conditions, including the current economic environment; risks of
conducting business in foreign countries; the pricing of precious
metals, which is beyond our control; the potential impact of seasonality
on our business; our ability to protect our intellectual property; the
risk of a failure of our information technology infrastructure to
protect confidential information and prevent security breaches; possible
adverse effects of governmental regulation and oversight; and the
failure to evaluate and integrate strategic opportunities, in addition
to the other risks and uncertainties described in our filings with the
Securities and Exchange Commission, or the SEC, including our Annual
Report on Form 10-K for the fiscal year ended December 31, 2012 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 SEC that discuss other
factors relevant to our business.
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