Artfest Establishes Partnership With Renowned Russian Art Dealer
DALLAS, TX – (MARKET WIRE) – Feb 19, 2008 – Artfest International, Inc. (OTCBB:ARTI) announced today that they have partnered with Luxor International to acquire exclusive licensing rights of numerous world renowned Artists from Russia. This exclusive deal will bring top selling Russian Artists to the United States of America through Artfest's direct marketing portal, www.ArtChannelGalleries.com, and further establish the Company's international presence.
The relationship between Artfest and Luxor will be mutually beneficial. In this highly lucrative artist exchange program, Artfest will bring all of their artists to the Russian audience in exchange for the exclusive rights to Luxor's Russian artists. Not only will Artfest increase their roster of artists, they will also gain an even more substantial international presence. In addition, the Company expects that their unique business opportunity will further expand the popularity of American art in Russia.
"When people create wealth and prosperity, like we have recently seen in Russia, they tend to gravitate towards finer homes, finer cars and fine art and collectibles," explains David Sage, Vice President of Marketing for Artfest. "Artfest will bring a new hybrid of sales and marketing of fine art and collectibles to the Russian audience through its proprietary internet portal and ecommerce site."
Luxor International provides licensing and publishing rights of prominent artists from Russia, Ukraine and other former Soviet Republics. Luxor's main focus is to represent only the finest artists and to license them to only the best distributors. The unique business structure of Artfest coupled with its distinguished artists and artwork makes the Company an ideal business partner for Luxor.
"Russia, and Moscow in particular, has become a multi-billion dollar Mecca," says Mark Okhman, President and CEO of Luxor International. "The lifestyle in Moscow reflects the Country's highly profitable ventures and business developments. It only seems natural that Artfest and Art Channel Galleries are businesses that people will participate and spend more of their investments in."
This exclusive agreement is just one of many Artfest is seeking to add to their portfolio in order to become the top direct selling company in the fine art and collectibles industry. For more information about Artfest, please visit www.ArtfestInternational.com.
About Artfest International Inc. Artfest International, Inc. is a publicly traded company under the symbol ARTI.OB. Artfest (www.artfestinternational.com) prints, markets, and sells limited edition, signed and numbered fine art and collectibles to its Members which include collectors, dealers, artists, decorators, designers, private collectors and investors. Artfest drives membership through its proprietary direct-sales e-commerce venue (www.artchannelgalleries.com), syndicated TV programming (www.artchannel.tv), brick and mortar galleries, online auctions (www.myartfest.com), and membership awards programs. Membership is free and includes a member branded, direct-sales e-commerce website having full back office support including a merchant account, just-in-time inventory, and fulfillment.
Safe Harbor Statement – This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ARTI does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.