Chu estimates each store can generate between $720,000 - $760,000 in revenues annually.

New Wheel Lots Logo

Mizati Luxury Alloy Wheels, Inc. will open its first "Wheel Lots" rent to own custom wheel store by the end of this month. CEO Hazel Chu said today that the company plans to open five additional stores by the end of 2007. Chu estimates each store can generate between $720,000 - $760,000 in revenues annually.

Mizati recently announced the hiring of new COO, Frederick W. Croft. Croft is expected to lead the expansion of Mizati's rent to own wheel initiative. Croft said earlier this month, "As an industry veteran, I know how fragmented the custom wheel business can be. What really drew me into Mizati was their position to become a dominant player in this industry."

Mizati has grown its revenues at an average annual rate of 102% since 2002 and has remained profitable since 2005. The Company's revenue for the fiscal year ending December 31, 2006 was $4,162,915, a 35% increase compared to $3,077,126 for fiscal year ended December 31, 2005. Management attributes the growth in sales to its increased wholesale account base. Gross profits for fiscal year 2006 were $741,388 compared to $582,623 in 2005, an increase of more than 27%.