Nobel Plans ‘Significant Expansion’

Nobel Watch Co., which makes and sells mid- and luxury-priced watches, is raising capital for what it calls "significant expansion" of its business. The company, based in New York City, recently launched a private stock offering to raise more than $1 million. It's also offering 200,000 warrants (exchangeable later for stock) to its retailers who want to invest in its growth, and it plans to go public before the end of 2005. Money from the stock offering to private investors will underwrite a national ad campaign to build consumer awareness of the brand and provide co-op ad support to its dealers, says Israel Genuth, Nobel's chief executive officer and co-founder. Nobel also plans to expand distribution. Genuth declined to discuss the current or projected size of its national network of retailers. He did say, however, that Nobel wants to expand into European and Asian markets and also
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