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FOR IMMEDIATE RELEASE
BIRKS AND MAYORS JEWELERS TO OPEN RHODE ISLAND MANUFACTURING & PRODUCT DEVELOPMENT CENTER
Plant in Woonsockets Highland Corporate Park Will Capitalize on States Rich History of Top Silver and Jewelry Craftsmen to Support Growing Product Needs
MONTREAL (August 4, 2004) Henry Birks & Sons US, Inc., a wholly owned subsidiary of Henry Birks and Sons, Inc. and Florida-based Mayors Jewelers (AMEX: MYR) a subsidiary of Birks, will open a jewelry manufacturing and product development center in Woonsocket, R.I., that will draw from the states rich pool of jewelry designers, silversmiths and craftsmen, announced Tom Andruskevich, President and Chief Executive Officer of Birks and Mayors.
The facility will be a renovated and retooled pre-existing structure in the prestigious Woonsocket Highland Corporate Park, the same park where Tiffany & Co. has its manufacturing plant. According to Andruskevich, the 20,000 square-foot center will consolidate manufacturing and will support much of the product development efforts for Birks and Mayors exclusive silver, gold and gem accent pieces. Rhode Island has a rich history of being home to the finest silversmiths, jewelry-makers and craftsmen, said Andruskevich. They will bring to our product lines the same commitment to excellence that Birks and Mayors have embraced since their inception.
Birks Montreal Jewelry Shop will focus on supporting the
growing demand for Bridal and gemstone products and will
be co-located with the centralized gemstone acquisition
operations that serve both Birks and Mayors. Currently,
Mayors operates a small workshop at its Sunrise, Florida
headquarters that creates custom designed and one-of-a-
kind pieces as well as sizing and jewelry repairs.
This initiative supports our group strategy to internally develop, manufacture and distribute product to both Birks and Mayors, said John Orrico, Group Vice President of Supply Chain Operations for both companies. In addition, with greater control of our supply chain, we will enhance product quality and consistency while expanding retail margins.
Birks, which operates 38 stores throughout Canada, is celebrating its 125th Anniversary in 2004. Founded in 1910, Mayors currently operates 28 total stores in Florida and Greater Atlanta, Georgia.
This press release may contain "forward-looking" statements concerning expectations for sales, margins and earnings (loss). Actual results might differ materially from those projected in the forward-looking statements. Information concerning factors that could cause actual results to differ materially are set forth in Mayor's 2003 Annual Report and in Form 10-K, 10-Q and 8-K Reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances.
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