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Mystery Retailer Boosts Business At Diamond

27 Mar, 2002 By: Hive News

Budget label Diamond Entertainment Corp. is betting its new video retail partner will triple annual sales volume

The retailer, which Diamond executives did not name, accounted for approximately $1 million of Diamond's video and DVD sales volume this fiscal year.

"We have good indications that we can anticipate doubling or even tripling our annual sales volume to this customer during the fiscal year ending March 31, 2003," stated president and CEO James Lu. "This would mean as much as $1 million to $2 million in additional sales volume, for a total of as much as $3 million at this national retailer alone."

Diamond markets and sells video – primarily classic film and television programs form the United States and China -- through national and regional mass merchants, department stores, drug stores and supermarkets and is working to increase its market base in general merchandise.

"With the positive feedback of our new DVD sales and marketing program using the advanced DVD-9 dual layer format and with the continued expansion of our customer base, we believe we have built the momentum that will take us to the leading position in the distribution of budget-priced DVD product," Lu said.

Among other business strategies, the company is redesigning its Web site, www.e-dmec.com, to add new product lines and promotional programs.

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