Nova LifeStyle Inc. is a broad-based manufacturer of contemporary styled residential
furniture incorporated into a dynamic marketing and sales platform offering
retail as well as online selection and purchase fulfillment globally. We monitor
popular trending and work to create design elements that are then integrated
into our product lines that can be used as both stand alone as well as whole
room and home furnishing solutions. Through our global network, Nova LifeStyle
also sells (through an exclusive third party manufacturing partner) a managed
variety of high-quality bedding foundation components.
Nova’s LifeStyle brand family currently includes Diamond Sofa (www.diamondsofa.com),
Colorful World, Giorgio Mobili, and Bright Swallow International Group Limited
(“Bright Swallow”).
Our customers principally consist of distributors and retailers having a specific
geographic coverage that deploy middle to high end private label home furnishings
having very little competitive overlap within our specific furnishing product
or product lines. Nova LifeStyle is constantly seeking to integrate new sources
of distribution and manufacturers that are properly aligned with our growth
strategy thus allowing us to continually focus on building both same store sales
growth as well as drive the expansion of our overall distribution and manufacturing
relationships through the deployment of popular as well as trend based furnishing
solutions worldwide.
We traditionally generated the majority of our sales serving as a trading company
and vertically integrated manufacturer for global furniture distributors and
large national retailers. In the U.S. and international markets, we focus on
establishing and expanding long term relationships with our customers by providing
large scale sourcing and cost-effective manufacturing through our facilities
in China. Our logistics, manufacturing and delivery capabilities provide our
customers with the flexibility to select from our extensive furniture collections
in their respective shipments. Our experience developing and marketing products
for international markets has enabled us to develop the scale, logistics, marketing,
manufacturing efficiencies and design expertise that serves as the foundation
for us to expand aggressively into the highly attractive U.S. and China markets.
We are a U.S. holding company with no material assets other than the ownership
interests of our subsidiaries through which we market, design, manufacture and
sell residential furniture worldwide: Nova Furniture Limited (“Nova Furniture”),
Bright Swallow, Nova Furniture (Dongguan) Co., Ltd. (“Nova Dongguan”),
Nova Furniture Macao Commercial Offshore Limited (“Nova Macao”),
Nova Dongguan Chinese Style Furniture Museum (“Nova Museum”), Diamond
Bar Outdoors, Inc. (“Diamond Bar”), and Dongguan Ding Nuo Household
Products Co., Ltd. (“Ding Nuo”). Nova Dongguan is a wholly foreign-owned
enterprise, or WFOE, and was incorporated under the laws of the PRC on June
6, 2003. Nova Macao was organized under the laws of Macao on May 20, 2006. Nova
Dongguan and Nova Macao are wholly owned subsidiaries of Nova Furniture, our
wholly owned subsidiary organized under the laws of the British Virgin Islands,
or the BVI. Nova Dongguan organized Nova Museum on March 17, 2011 as a non-profit
organization under the laws of the PRC engaged in the promotion of the culture
and history of furniture in China. Diamond Bar, doing business as Diamond Sofa,
was incorporated in California on June 15, 2000. Nova Dongguan markets and sells
our products in China to stores in our franchise network, to internet customers,
and to wholesalers and agents for domestic retailers and exporters. Nova Dongguan
also provides the design expertise and facilities to manufacture our branded
products and products for international markets under original design manufacturer
and original equipment manufacturer agreements, or ODM and OEM agreements. Nova
Macao is a trading company, importing, marketing and selling products designed
and manufactured by Nova Dongguan and third party manufacturers for the U.S.
and international markets. Since January, 2013, Nova Macao manages all aspects
of Nova Dongguan’s export market. Diamond Bar markets and sells products
manufactured by us and third party manufacturers under the Diamond Sofa brand
to distributors and retailers principally in the U.S. market.
In order to capture this residential furniture market opportunity for the middle
and upper middle-income consumer in China, we have established distinct furniture
brands designed specifically for the consumer preferences of the China market.
We feature a wide selection of product categories and styles under our brands,
each piece part of a collection bearing a distinctive style, design theme and
selection of materials and finishes.
We believe that distributing our products through dedicated, single-brand stores
displaying complete and fully accessorized room settings strengthens brand awareness,
produces well-informed and focused sales personnel, and encourages consumers
to purchase an entire room of furniture. We believe that our brands and sales
through our franchise store network in China and through e-commerce platforms
will grow significantly as consumer demand for quality and stylish furniture
increases in China in combination with raised living standards.
4.48%