Nova LifeStyle Announces the Launching of Blockchain-empowered Subsidiary ‘I Design Blockchain Technology Inc’

LOS ANGELES, Dec. 20, 2017 (GLOBE NEWSWIRE) -- Nova LifeStyle, Inc. (NASDAQ:NVFY) ("Nova LifeStyle" or the "Company"), a leading U.S.-based, innovative designer and distributor of modern LifeStyle home products, today announced that the Company has launched a wholly-owned subsidiary “I Design Blockchain Technology Inc” to enhance product sales through a Blockchain technology-empowered digital platform, integrating designers, interior decorators, manufacturers, stagers, customers and marketers surrounding Nova-designed modern lifestyle products.

Nova LifeStyle’s expansion into Blockchain technology is supported by its enormous existing worldwide consumer base through the Company’s 25-year operating history.  Earlier this year, the Company announced its intention to begin accelerating the use of Blockchain technology to further enhance the brand recognition of Nova’s traditional furniture business while also creating a platform to offer other potential products and services.  The Company believes that the integration of Blockchain into the current business model is essential to the future growth of Nova LifeStyle.

Management Comments

“Nova LifeStyle is experiencing strong sales and earnings growth as we have recently announced. The launching of a Blockchain technology-empowered digital platform intends to fully integrate our designers, customers and users on a transparent and distributed global Blockchain database,” said Ms. Tawny Lam, CEO of Nova LifeStyle. 

“As Nova LifeStyle continues to transform our business in response to significant customer demand, we look forward to expanding our business by taking advantage of the many benefits offered by Blockchain technology.”

About Nova LifeStyle

Nova LifeStyle, Inc., a NASDAQ Global Market listed company headquartered in California, is a fast growing, innovative designer and distributor of modern LifeStyle furniture; primarily sofas, dining rooms, cabinets, office furniture and related components, bedrooms, and various accessories in matching collections. Nova's products are made in the US, Europe, and Asia that include LifeStyle brands such as Diamond Sofa, Nova QwiK, and Bright Swallow International. Nova's products feature urban contemporary styles that integrate comfort and functionality, incorporating upscale luxury designs appeals to middle and upper middle-income consumers in the U.S., China, Europe, and elsewhere in the world. Visit Nova LifeStyle’s website at www.NovaLifeStyle.com.

Safe Harbor Statement

All statements in this press release that are not historical are forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the company's expectations. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect Nova's current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in Nova's filings with the Securities and Exchange Commission.

Company Contact:
Phone (323) 888-9999
Fax (323) 888-9908
Email info@novalifestyle.com