Daily News
From Home Furnishing Business
Nova Lifestyle Expands Product Offerings for 2020
December 27,
2019 by Laurie Northington in Business Strategy, Industry 
Nova Lifestyle (NASDAQ: NVFY), parent company of Diamond Sofa and several other brands, has increased the number of products to be offered in 2020 by 25%, and up to 40% in certain furnishing categories.
As a result of the company’s ongoing efforts to source products manufactured in locations other than China, all of these new products are being manufactured in India and Malaysia. Nova Lifestyle continues to expand its product offerings, and to source additional manufacturing arrangements outside China to minimize the impact of the U.S.-imposed tariffs on products manufactured in China and to diversify the company’s sourcing base.
“Since the beginning of 2019, the company has focused on marketing lower volume but high margin products,” said Tawny Lam, CEO.” We are pleased to observe that the company’s Q3 2019 net sales more than doubled our Q2 2019 net sales. We believe such quarter to quarter revenue increases reflect the market’s acceptance of our new and higher margin products. The company anticipates the growth momentum to continue well into 2020.”
The 2020 new products will debut at the Las Vegas Market show scheduled for January 26-30, 2020.