House of Taylor secures loan after 2005 losses
National Jeweler, NY
MAY 09, 2006 – Los Angeles — House of Taylor Jewelry, which suffered losses for its fiscal year 2005, has secured $10 million in financing from investors to buy inventory and to use for marketing and working capital, the company announced Monday.
House of Taylor Jewelry saw sales of $5.61 million and a net loss of $3.5 million for the year ended Dec. 31, 2005.
It attributes the loss to numerous factors, including a restructuring, a focus on designing and sourcing new products; developing sales and marketing strategies; reducing inventory of discontinued product; and increased research, development and marketing, according to a May 1 press release from the company. Read more about House of Taylor secures loan after 2005 losses …
