LOS ANGELES, Sept. 10, 2007 (PRIME NEWSWIRE) -- Mizati Luxury Alloy Wheels, Inc. (Pink Sheets:MZTI), a distributor of high-quality luxury alloy wheels for passenger cars, sport utility vehicles, vans, and light trucks, announced today the sales progress for its first Rent-to-Own Wheel Lots-Upland store.
The first Wheel Lots store opened on July 27th, 2007 and has performed slightly below average on its sales revenue. Results for the below average impact were attributed to the summer vacation. "Most people think summer is an opportune time for retail businesses; however, based on our research of similar retail stores, we know that this is not the case. We anticipated sluggish sales," Mizati CEO Hazel Chu said. "However, now that the summer is almost over, school has started, and consumers are home from vacation, life is once again back to normal. At our Wheel Lots-Upland store, we have started implementing more advertising and marketing campaigns. We are also running some special promotions, so I expect sales for Wheel Lots will pick up quickly," Chu added.
Wheel Lots is open 6 days a week, Monday through Friday between 10:00 am to 7:00 pm, Saturday from 9:00 am to 6:00 pm, and closed Sunday. Wheel Lots located at 161 N. Mountain Ave., Upland, CA 91786.
About Wheel Lots, CA LLC
Wheel Lots, CA LLC. ("Wheel Lots") is an innovative, fast-growing provider of custom luxury alloy wheels on a rent-to-own basis through retail store outlets. Incorporated in 2007, Wheel Lots is a wholly-owned subsidiary of Mizati Luxury Alloy Wheels, Inc. ("Mizati"). The Rent-To-Own business has become a substantial market segment for American retailing; 2.8 million Americans spent $6.7 billion in 2006 on rent-to-own transactions. For more information about Wheel Lots, CA LLC, please visit the upcoming Web site at http://www.wheellots.com
About Mizati Luxury Alloy Wheels, Inc.
Mizati Luxury Alloy Wheels, Inc. ("Mizati") designs, markets and distributes high-quality custom alloy wheels for passenger cars, sport utility vehicles, vans, and light trucks. Incorporated in 2001, the Company operates from its corporate headquarters in Walnut, California. Mizati currently markets and distributes three separate and unique brands of luxury wheels, "Mizati(r)," "Hero(tm)," and "Zati(tm)," through a network of 425 dealers and distributors. Mizati has achieved an average annual revenue growth rate of 102% for the past three years.
For more information about Mizati Luxury Alloy Wheels, Inc. (Pink Sheets:MZTI), visit the Company Web site at http://www.mizatiwheels.com.
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"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Any statements that are not historical facts contained in this release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. It is possible that the assumptions made by management for purposes of such statements may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements may involve risks and uncertainties, including but not limited to those relating to product demand, pricing, market acceptance, the effect of economic conditions, intellectual property rights, the outcome of competitive products, risks in product development, the results of financing efforts, the ability to complete transactions, and other factors discussed from time to time in MZTI Securities and Exchange Commission filings. MZTI undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made.