Charles & Colvard announces implementation of Flow, revolutionizing how the Company reaches customers globally.
RESEARCH TRIANGLE PARK, N.C., Oct. 09, 2018 (GLOBE NEWSWIRE) — Charles & Colvard, Ltd. (Nasdaq: CTHR), the original and leading worldwide source of created moissanite, today announced the implementation of a new cross border commerce solution by Flow Commerce, revolutionizing how the Company reaches customers globally. The cross border trade SaaS platform and logistic solution enhances the customer experience for direct-to-consumer international online shoppers.
“With 84% of global e-commerce transactions predicted to originate outside of Europe and North America by the year 2020, providing the best possible shopping experience for our customers – regardless of location – is absolutely a priority,” said Charles & Colvard President and CEO, Suzanne Miglucci. “We believe there is a large opportunity to drive international sales through our U.S. based e-commerce site, as demonstrated by our recent 400% increase in cross border trade sales in the second quarter of 2018. The addition of Flow’s technology solution will empower us to provide a personalized, on-site experience and seamless buying process.”
With the implementation of Flow, international customers can automatically browse and view product pricing in their local currency. This also allows for hub-less and direct shipping worldwide without delays. Further, these customers will checkout using Charles & Colvard’s main shopping cart, without leaving the Company’s website, further enhancing their Charles & Colvard brand experience. They will have access to over 100 local payment methods, and elements such as duties and taxes will be automatically factored into the checkout experience.
For Charles & Colvard, the solution furthers its commitment to constantly improving customer experience and omni-channel brand presence through the customization of pricing, promotions and merchandising for each market. Additionally, the Company will have access to increased risk and fraud management for international orders, compliance with international rules and regulations, and enhanced insights and reporting on international customer behavior.
“We are delighted to partner with a tech-savvy e-commerce company like Charles & Colvard and to help them achieve their cross border goals,” said Rob Keve, CEO and Co-founder of Flow. “Going into the holiday season, we anticipate delivering exceptional shopping experiences to their customers that fuel the brand’s global growth and boost international sales.”
About Charles & Colvard, Ltd.
Charles & Colvard (Nasdaq: CTHR) believes luxury can be beautiful and conscientious. As an e-commerce-driven business, the Company uses innovative technology and sustainable practices to lead a revolution in the jewelry industry. As the original pioneer of lab-created moissanite, a rare gemstone formed from silicon carbide, Charles & Colvard delivers a brilliant product at a revolutionary value that meets the needs of today’s discerning customer. Jewelry consumers seek Charles & Colvard products because of their exceptional quality as well as their environmental and social responsibility. Charles & Colvard was founded in 1995 and is based in the Research Triangle Park, North Carolina. For more information, please visit www.charlesandcolvard.com.
Flow is a global cross border e-commerce platform that enables brands and retailers to sell their products to customers internationally by creating a localized shopping experience. Flow automates and simplifies every aspect of the international e-commerce process for its customers, removing the challenges facing cross border commerce by offering benefits such as multi-currency pricing, cost efficient and rapid shipping, international payment options, well-defined taxes and duties, and simple returns. Brands and retailers use Flow’s cloud-based software solution to better manage cross border logistics, to reach a broader international customer base and to enhance the customer experience. For more information, visit https://www.flow.io/.
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,” “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 awareness, acceptance, and growth of sales of our products resulting from our strategic initiatives; the impact of the execution of our business plans on our liquidity; our ability to fulfill orders on a timely basis; intense competition in the worldwide jewelry industry; the financial condition of our major customers and their willingness and ability to market our products; dependence on a limited number of distributor and retail partners in our Traditional segment; dependence on our exclusive supply agreement with Cree, Inc., for the supply of our silicon carbide, or SiC, crystals; our ability to maintain compliance with The Nasdaq Stock Market’s continued listing requirements; general economic and market conditions, including the current economic environment; quality control challenges from time to time that can result in lost revenue and harm to our brands and reputation; the potential impact of seasonality on our business; the impact of natural disasters on our operations; the pricing of precious metals, which is beyond our control; our current customers’ potential perception of us as a competitor in the finished jewelry business; the impact of significant changes in e-commerce opportunities, technology, or models; the risk of a failure of our information technology infrastructure to protect confidential information and prevent security breaches; the potential adverse effect of December 2017 U.S. tax legislation; our ability to protect our intellectual property; the potential adverse impact of negative or inaccurate social media commentary; risks of conducting business in foreign countries; the failure to evaluate, implement, and integrate strategic opportunities; possible adverse effects of governmental regulation and oversight; and the impact of anti-takeover provisions included in our charter documents, in addition to the other risks and uncertainties described in our filings with the Securities and Exchange Commission, or the SEC, including our Report on Form 10-KT for the transition period ended June 30, 2018 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.
Charles & Colvard