Envela Announces New DGSE Retail Store in Expansion Effort

Feb 18, 2020

DALLAS, TX / February 18, 2020 / DGSE, LLC (“DGSE”), a subsidiary of Envela Corporation (NYSE American:ELA) (“Envela” or the “Company”), announced today that it has signed an agreement for the purchase of a retail building for its next Dallas Gold & Silver Exchange store, in Lewisville, Texas.

Brick-and-mortar expansion remains a strong growth opportunity for DGSE, and the Company’s invigorated financial condition makes buying rather than leasing retail stores an attractive option. The new Lewisville location is expected to open in the third quarter this year.

DGSE will continue to focus on enhancing the customer experience through convenience and access concepts honed at the flagship store. These will include an open, 3,000 square-foot showroom, cutting-edge technologies, and inviting product selection.

“We focus our efforts on meeting evolving consumer needs and exceeding their highest expectations,” said Scot Mosley, President of DGSE. “We will continue to invest in bringing a best-in-class, DGSE-brand experience to customers at each of our retail locations,” Mosley added.

During the next two years, DGSE anticipates providing omnichannel and immersive consumer experiences to its customers, and opening even more retail locations.

About DGSE

DGSE focuses on recommerce of luxury brands and diamonds. Its retail strategy is anchored in being an information resource for clients, bringing transparency to purchase and sale transactions, and offering value and liquidity to those seeking to buy, sell or trade jewelry, watches, diamonds or coins.

DGSE wholesales and retails jewelry, diamonds, fine watches, and precious metal bullion and rare coin products through its Charleston Gold & Diamond Exchange (www.cdgeinc.com) and Dallas Gold & Silver Exchange (www.dgse.com) operations.

DGSE strives to deliver an unrivaled customer experience. It features a broad selection of high-quality vintage and new jewelry, precious-metal bullion, rare coins, fine timepieces and diamonds, together with value pricing and a customer-friendly sales process.

DGSE has specialized in buying and selling jewelry for over 40 years, making our expert staff among the best in the business.

About Envela

Envela and its subsidiaries engage in diverse business activities within the recommerce sector. These include one of the nation’s premier authenticated recommerce retailers of luxury hard assets; end-of-life asset recycling; data destruction and IT asset management; and providers of products, services and solutions to industrial and commercial companies.

Envela operates primarily via two business segments. Through DGSE, LLC, the Company will operate its Dallas Gold and Silver Exchange, Charleston Gold & Diamond Exchange, and Bullion Express brands. Under ECHG, LLC, it will operate Echo Environmental, ITAD USA and Teladvance. Envela is a Nevada corporation, headquartered in Dallas, Texas.

Additional information about Envela is available at its investor-relations site, Envela.com.

Forward-Looking Statements

This press release includes statements that may constitute “forward-looking” statements, including statements regarding potential property acquisitions, future growth, business strategies, and the future success of DGSE. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, market conditions and other risks detailed in the Company’s periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release except as required by law.

Investor Relations Contact:

David Vadala
Head of Investor Relations
Envela Corporation
13022 Preston Rd Dallas, TX 75240 972.587.4030

SOURCE: Envela Corporation

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