Daily News Archive
Brought to you by Home Furnishings Business
December 8,
2008 by in UnCategorized 
By Home Furnishings Business in Furniture Retailing on December 9, 2008
When assembling Ikea furniture, women excel because, unlike men, female customers take a far more methodical approach to putting their purchases together, according to Ikea's Petra Hesser, who heads the company's German unit.
According to an Associated Press report from Berlin, Hesser, 50, said men "never look at the directions and have the most problems with construction because they always think they can do that."
Women usually sort the parts in an orderly way, but men "throw them in a pile and then something goes missing," she said.
Women account for 40 percent of the retailer's customers, and men often accompany female friends and family to give approval for larger purchases.
December 7,
2008 by in UnCategorized
By Home Furnishings Business in on December 2008
* The overall November unemployment rate declined again, to 6.7 percent, from 6.5 percent in October, according to the U.S. Bureau of Labor Statistics (BLS). Non-farm employment fell sharply, by 553,000 in November, the most in 34 years.
On a seasonally adjusted basis, preliminary figures for November show overall manufacturing employment decreased by 85,000, or 0.6 percent, with manufacturing employment in the home furnishings sector down 6,600, or 1.4 percent measured against October figures. Compared with November of 2007, total manufacturing employment declined by 319,000 jobs or 2.4 percent, and home furnishings manufacturing lost 30,200 jobs or 6.1 percent.
On the retail side of the home furnishings industry, employment slipped 1.8 percent, or 9,800 jobs, in November versus October, to 547,000 jobs. That’s a decline of 6.5 percent from November of last year, based on BLS records. November’s overall retail trade employment declined 0.6 percent versus October and fell 3 percent compared with November 2007 figures.
* The Reuters/University of Michigan Surveys of Consumers, an important measure of consumer confidence, fell again in November, to 55.3 from 57.6 in October, and was off substantially from the 76.1 recorded last November.
Richard Curtin, survey director, attributed the decline to mounting job losses, falling incomes and the evaporation of household wealth. There have been only two surveys during the past half century that found consumers more pessimistic than now, in April and May of 1980.
The Index of Consumer Expectations, a closely watched component of the Index of Leading Economic Indicators that is noted for its ability to foreshadow recessions, was 53.9 in November, down from 57 in October, but above the 49.2 recorded in June, the low in the last 13 months.
Weekly Review of Economic News (WREN) reports are summaries of recently-released economic statistical data that affect the home furnishings industry. WREN reports are compiled by HFB Research Editor Janice Chamberlain.
December 7,
2008 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on December 2008
Natuzzi has opened its first store in Central America, a new location in Panama City, Panama.
The store, which is owned by Harvey Striem, hosted a grand opening last week.
“I wanted to partner with Natuzzi Italy and bring this market the high-end style and design it demands,” Striem said. “Luxury-seeking consumers in Panama City appreciate true couture Italian style and admire the true authenticity Natuzzi Italy product brings to this market. We are excited to finally open our doors.”
The 7,800-square-foot space is part of Natuzzi’s three-year business plan that includes rolling out independently owned stores across the world.
December 7,
2008 by in UnCategorized
By Home Furnishings Business in Bedding on December 2008
Bedding producer Lady Americana has signed a 10-year licensing deal with a Hong Kong manufacturing company to distribute the line in China.
Shenzhen Archi Furnishings Mfty. Co. Ltd. is a subsidiary of Airland Enterprise Co. Ltd. and manufactures spring mattresses.
“We are excited to have such a dedicated firm as our licensee in the massive markets of China, Hong Kong and Macao,” said Kerry Tramel, president of Lady Americana. “Their production and distribution network is one of the finest in the industry.”
Lady Americana has a global presence with licensees in North America, Australia, Asia and the Middle East.
“The Chinese market is enthused about American imports, and Lady Americana reinforces the American identity starting with its name,” said Allen Hang, managing director of SAFMCL. “They are an all-American specialty bedding company with a wide range of products, a perfect fit for us.”
Hang said SAFMCL plans to introduced the line in mid- to late December beginning with the company’s Millionaire, Elite and Backmaster collections.
Lady Americana looked at several groups before partnering with SAFMCL, according to Sarfraz Shaikh, vice president of marketing and international licensing for Lady Americana.
“They have an excellent research and design team coupled with a highly developed distribution network,” Shaikh said. “What also interested us was the commitment to environmental preservation which echoes with our Eco-Comfort initiative.”
December 7,
2008 by in UnCategorized
By Home Furnishings Business in on December 2008
Toray Inds. Inc., which created Ultrasuede fabric, has received the United Nations Association of New York’s 2008 Humanitarian Award for its efforts to address the impact of global climate change. The award was presented at a gala dinner held in late October at the United Nations that focused attention on the importance of environmental sustainability.
Sadayuki Sakakibara, President and CEO of Toray Inds., Tokyo, accepted the award for the company, which has been working to prevent climate change by developing materials and technologies that help save energy and resources.
“Global warming is a serious problem for the planet, and that everyone, especially the business community, has a responsibility to take bold actions to protect against it,” Sakakibara said in accepting the award.
Toray invented the technology that made ultra-microfiber materials possible and remains a worldwide leader in these advanced materials—researching, developing and marketing them through its global Microfiber division, founded in 2001.
Among the Toray Inds. technologies highlighted at the event were its reverse-osmosis membranes and carbon fiber composite materials. Toray’s reverse-osmosis technology is used in water treatment plants throughout the world to produce 14 million tons of clean water every day for 60 million people. The company’s carbon fiber composite materials are now being used by Boeing to produce an all-composite aircraft that will be 20 percent lighter than conventional aircraft and will use less fuel and help reduce greenhouse gas emissions.