Search Twitter Facebook Digital HFBusiness Magazine Pinterest Google

Get the latest industry scoop


Daily News

From Home Furnishing Business

Nova LifeStyles Posts Sales Increase

Nevada furniture maker Nova LifeStyle Inc.’s third-quarter revenue grew by 16 percent after it bought a Macau exporter of sofas.

Nova LifeStyle’s sales were $22.3 million  in the third quarter of this year, $3.1 million more than a year earlier.

$2.4 million of the sales were by Bright Swallow International Group Ltd, a sofa exporter that Nova LifeStyle bought in April.

Nova LifeStyle paid Zhu Wei $6.5 million for Bright Swallow, which sells Chinese-made sofas in Canada through The Brick Ltd, a furniture retailer with over 200 outlets.

Nova LifeStyle told the OTC Markets in the United States that its third-quarter sales in North America had risen by 84 percent to $12.6 million as it “aggressively expanded” sales in the US and Canada. Gross profit increased by 15 percent to $4.4 million.


Read Entire Story  Source: Macau Business Daily 

Comments are closed.
Performance Groups
HFB Designer Weekly