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Nova Lifestyle Inc   (NVFY)
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Nova Lifestyle Inc 's

Competitiveness


 

NVFY Sales vs. its Competitors Q2 2022



Comparing the current results to its competitors, Nova Lifestyle Inc reported Revenue increase in the 2 quarter 2022 by 0 % year on year.
The revenue growth was below Nova Lifestyle Inc 's competitors' average revenue growth of 8.15 %, achieved in the same quarter.

List of NVFY Competitors





Revenue Growth Comparisons




Net Income Comparison


Nova Lifestyle Inc , faster than the decline experienced by the competitors recorded a net loss, as well as most of its competitors.

<<  NVFY Stock Performance Comparisons


Nova Lifestyle Inc 's Comment on Competitors and Industry Peers


The residential furniture industry is highly competitive, consisting of a large number of manufacturers, distributors and retailers, none of which dominates the fragmented and diverse market. Our products principally compete in the U.S., China, Europe and Australia. The primary competitive factors in these markets for our product price points and target consumers are price, quality, style, marketing, functionality and availability.

In China, we compete against importers of premium-priced foreign brands and other manufacturers and furniture franchisers located in China. Imported furniture in China mainly consists of luxury and specialty pieces priced significantly higher than domestically produced furniture. Our principal competitors that manufacture and franchise products for the China retail market include Steel-land (Jinfushi Group), Kuka Sofa, Zuoyou Furniture, SOHOME, Kinetic and Lixing, whose products are priced comparably with our products. We believe that our experience developing products for the U.S. and international markets has enabled us to develop the scale, logistics, manufacturing efficiencies and design expertise that serves as the foundation for us to compete and expand aggressively into the China retail market. We develop and market our brands to target multiple segments of China’s rapidly growing middle class based on style and price points. We design complete lifestyle-based furniture suites for middle and upper middle-income consumers in China to simplify the process of furnishing residences with a matching collection of quality and stylish furniture. We anticipate increasing the sales volume during 2016 for our Chinese brands as well as increasing sales through our internet platform stores, rather than introducing new collections. Our manufacturing and distribution capabilities on orders for the China retail market enable us to offer rapid turnaround on production and delivery of our latest designs, which we believe makes our product offerings more attractive to retailers and franchisees compared to other manufacturers.

In the U.S. and international markets, we compete against other furniture distributors and ODM and OEM manufacturers, most of which are located in China and other Southeast Asian countries, and against traditional manufacturing centers and distributors in North America and Europe. We believe that we are competitive with North American and European manufacturers because we have a history of prompt delivery of quality products and offer approximately 30 distinct product collections that we developed for international markets at comparable prices and with styles and functionality similar to those offered by our competitors. We coordinate the efforts of our sales and marketing team to receive feedback from customers as part of our ongoing research and design of products. This research process allows us to develop and modify products to meet the varied and changing stylistic and functional demands of our customers worldwide. Our in-house production process is vertically integrated, allowing us to achieve greater product standardization and quality control on our products designed for international markets while capturing higher profit margins and enabling better management of delivery times than if we source these products externally. We believe that our experience and proven performance provides us with a competitive edge over other manufacturers for the U.S. and international markets.





*Market share is calculated based on total revenue.





Who are Nova Lifestyle Inc 's Competitors?




Millerknoll Inc
Share Performance



+2.84%
Over The Past 5 Days



Millerknoll Inc
Profile

Millerknoll Inc operates under a direct-to-consumer business model, selling a wide range of customizable home furniture and decor products. By bypassing traditional brick-and-mortar retail channels, the company focuses on selling its products directly to customers through its online platform, offering convenience, affordability, and a personalized shopping experience. The company also emphasizes sustainability by using eco-friendly materials and manufacturing processes.

More about Millerknoll Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 2,266.089 mill. $ 3,897.200 mill. $ 83.300 mill.


Williams sonoma Inc
Share Performance



+27.97%
30 Days



Williams sonoma Inc
Profile

Williams Sonoma Inc's business model revolves around offering a diverse range of high-quality home furnishings, kitchenware, and specialty food items through its various retail brands and e-commerce channels. They focus on delivering exceptional customer experiences, providing expert product knowledge, and maintaining strong supplier relationships to continually innovate and satisfy their customers' needs.

More about Williams sonoma Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 18,477.431 mill. $ 5,401.173 mill. $ 950.316 mill.


Macys Inc
Share Performance



+1.82%
Over The Past 5 Days



Macys Inc
Profile

Macys Inc is a retail corporation that operates department store chains under the brand names Macy's and Bloomingdale's. Their business model focuses on offering a wide range of products including apparel, accessories, home goods, and beauty products in physical stores as well as through their e-commerce platform. Macy's Inc aims to provide exceptional customer experiences through a combination of curated merchandise, promotional events, and personalized services to drive sales and maintain strong brand loyalty.

More about Macys Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 6,088.800 mill. $ 23,755.000 mill. $ 684.000 mill.


Target Corporation
Share Performance



+23.54%
This Quarter



Target Corporation
Profile

Target Corporation's business model involves operating a retail chain that offers a wide range of products, including clothing, home goods, electronics, and groceries, among others. The company focuses on providing a convenient and enjoyable shopping experience to customers through its physical stores and online platforms. Target strives to offer quality products at affordable prices while promoting a stylish and trendy image. Additionally, the corporation collaborates with various brands and designers for exclusive merchandise partnerships, enhancing its appeal to a diverse customer base.

More about Target Corporation's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 77,571.300 mill. $ 107,412.000 mill. $ 4,138.000 mill.


Dillard s inc
Share Performance



+0.46%
Over The Past 5 Days



Dillard s inc
Profile

Dillard's Inc. operates as a department store retailer primarily in the United States. The company follows a traditional business model, offering a wide range of merchandise such as apparel, cosmetics, and home furnishings through its physical stores. Dillard's differentiates itself by providing quality products from well-known brands and maintaining a strong customer service focus.

More about Dillard s inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 6,972.249 mill. $ 6,878.033 mill. $ 777.531 mill.


Kohl s Corp
Share Performance



-11.39%
30 Days



Kohl s Corp
Profile

Kohl's Corp operates as a retail company that focuses on selling apparel, home goods, and accessories to consumers. The company follows a brick-and-mortar store model, leveraging its physical locations to attract customers. They offer a wide range of products and often provide discounts and promotional offers to drive sales and customer loyalty.

More about Kohl s Corp's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 2,787.472 mill. $ 17,539.000 mill. $ -142.000 mill.


Best Buy Co Inc
Share Performance



+5.35%
This Quarter



Best Buy Co Inc
Profile

Best Buy Co Inc operates as a multinational retail corporation that primarily sells consumer electronics and appliances. The company's business model revolves around offering a wide range of products, both online and in physical stores, supported by knowledgeable staff, competitive pricing, and various services such as installation and technical support.

More about Best Buy Co Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 16,851.819 mill. $ 46,298.000 mill. $ 1,419.000 mill.


Costco Wholesale Corp
Share Performance



+49.51%
One Year



Costco Wholesale Corp
Profile

Costco Wholesale Corp operates on a membership-based business model, where customers pay an annual fee for access to the warehouse club. By offering a wide range of products at low prices, Costco aims to attract a large customer base while maintaining high member retention.

More about Costco Wholesale Corp's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 325,355.341 mill. $ 248,828.000 mill. $ 6,794.000 mill.


Berkshire Hathaway Inc
Share Performance



0.00%
This Year



Berkshire Hathaway Inc
Profile

Berkshire Hathaway Inc's business model is primarily focused on investing in diverse companies across various industries.

More about Berkshire Hathaway Inc's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 492,047.103 mill. $ 349,271.000 mill. $ 77,710.000 mill.


Walmart Inc
Share Performance



-0.90%
Over The Past 5 Days



Walmart Inc
Profile

Walmart Inc's business model is centered around low-cost retailing, offering a wide range of products at affordable prices.

More about Walmart Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 494,240.555 mill. $ 611,289.000 mill. $ 11,292.000 mill.


The Kroger Co
Share Performance



+1.59%
Over The Past 5 Days



The Kroger Co
Profile

The Kroger Co operates as a retail company, primarily engaged in grocery retailing. Their business model focuses on offering a wide range of products and services to customers, including food, household essentials, and pharmacy items through their physical stores, online platforms, and delivery services. The company aims to provide value, convenience, and quality to their customers while utilizing operational efficiencies and partnerships with suppliers to maintain competitive prices.

More about The Kroger Co 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 40,737.750 mill. $ 147,797.000 mill. $ 1,881.000 mill.


Weyerhaeuser Company
Share Performance



+2.18%
30 Days



Weyerhaeuser Company
Profile

Weyerhaeuser Company operates as a timberland owner and manages forestland on behalf of its clients. The company primarily focuses on the sustainable production and sale of various wood products, such as timber, logs, and engineered wood products, while also engaging in real estate development activities.

More about Weyerhaeuser Company's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 24,988.989 mill. $ 7,723.000 mill. $ 631.000 mill.


Leggett and Platt Inc
Share Performance



-8.27%
30 Days



Leggett and Platt Inc
Profile

Leggett and Platt Inc operates as a diversified manufacturer that designs and produces a range of engineered components and products for various industries such as bedding, furniture, automotive, and aerospace, among others. Their business model focuses on providing innovative solutions and strategic partnerships, leveraging their expertise in engineering and manufacturing to deliver high-quality products to meet customer needs and drive long-term growth.

More about Leggett and Platt Inc's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 2,518.488 mill. $ 4,724.800 mill. $ -136.800 mill.


Ethan Allen Interiors Inc
Share Performance



-0.37%
Over The Past 5 Days



Ethan Allen Interiors Inc
Profile

Ethan Allen Interiors Inc operates as a furniture manufacturer and retailer, offering a range of home furnishings, decor, and accessories. Their business model centers around designing and manufacturing high-quality, customizable furniture collections while also operating a network of branded retail stores and an e-commerce platform.

More about Ethan Allen Interiors Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 835.538 mill. $ 704.511 mill. $ 80.111 mill.


Big Lots Inc
Share Performance



-43.26%
This Quarter



Big Lots Inc
Profile

Big Lots Inc operates as a discount retailer that offers a wide variety of merchandise at lower prices than traditional retailers.

More about Big Lots Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 106.066 mill. $ 4,831.389 mill. $ -463.630 mill.


Flexsteel Industries Inc
Share Performance



+80.75%
This Quarter



Flexsteel Industries Inc
Profile

Flexsteel Industries Inc is a furniture manufacturing company that operates on a business-to-business model. They specialize in the production and distribution of high-quality residential and commercial upholstered and wooden furniture. Their business model involves selling their products to retailers, wholesalers, and interior designers who then make them available to consumers.

More about Flexsteel Industries Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 182.750 mill. $ 391.673 mill. $ 15.241 mill.


Hooker Furnishings Corporation
Share Performance



-3.77%
30 Days



Hooker Furnishings Corporation
Profile

Hooker Furnishings Corporation is a company that operates in the home furnishings industry by designing, manufacturing, and selling a wide range of furniture products.

More about Hooker Furnishings Corporation's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 253.448 mill. $ 477.676 mill. $ 7.425 mill.


Kimball International Inc
Share Performance



0.00%
Over The Past 5 Days



Kimball International Inc
Profile

Kimball International Inc is a company that operates in the furniture industry, primarily manufacturing and selling office furniture and furnishings. It focuses on providing customers with innovative and functional products while also emphasizing sustainability and creating a positive work environment.

More about Kimball International Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 458.816 mill. $ 703.888 mill. $ -19.462 mill.


La z boy Incorporated
Share Performance



-0.41%
Over The Past 5 Days



La z boy Incorporated
Profile

La-Z-Boy Incorporated operates under a business model focused on manufacturing and selling a wide range of residential furniture, primarily recliners and upholstery products, through a network of company-owned stores, independent retailers, and online channels, aiming to provide customers with comfortable and stylish home seating solutions. They also strive to enhance brand recognition and capture market share by continuously innovating their product offerings and delivering exceptional customer service.

More about La z boy Incorporated's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 1,577.913 mill. $ 2,052.874 mill. $ 118.949 mill.


Bassett Furniture Industries Incorporated
Share Performance



-20.16%
One Year



Bassett Furniture Industries Incorporated
Profile

Bassett Furniture Industries Incorporated's business model revolves around designing, manufacturing, and selling high-quality furniture products to consumers.

More about Bassett Furniture Industries Incorporated's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 128.690 mill. $ 389.488 mill. $ -3.171 mill.


Hg Holdings Inc
Share Performance



0.00%
Over The Past 5 Days



Hg Holdings Inc
Profile

Hg Holdings Inc operates using a diversified business model that focuses on investing in and acquiring various companies across different industries. They aim to enhance the long-term value of their portfolio companies by providing strategic guidance, operational support, and capital resources. Hg Holdings Inc consistently seeks opportunities for growth, efficiency, and profitability within its acquired companies to generate sustainable returns for its stakeholders.

More about Hg Holdings Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 16.760 mill. $ 13.814 mill. $ 1.212 mill.


Tempur Sealy International Inc
Share Performance



+5.94%
This Year



Tempur Sealy International Inc
Profile

Tempur Sealy International Inc operates as a global manufacturer, marketer, and distributor of mattresses, bedding, and related products. The company follows a business model that involves designing and producing premium, innovative products using its proprietary TEMPUR material. These products are then sold through a diverse network of retail partners, including third-party retailers, online channels, and company-owned stores, enabling Tempur Sealy International Inc to reach a wide range of customers worldwide.

More about Tempur Sealy International Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 9,306.913 mill. $ 4,924.700 mill. $ 370.700 mill.


Virco Mfg Corporation
Share Performance



+2.66%
Over The Past 5 Days



Virco Mfg Corporation
Profile

Virco Mfg Corporation operates based on a business model that focuses on the manufacturing and distribution of furniture for educational institutions. The company offers a wide range of products such as desks, chairs, tables, and storage solutions specifically designed for classrooms and other educational settings. By catering to this niche market, Virco Mfg Corporation aims to provide essential and durable furniture that enhances the learning environment for students and educators alike.

More about Virco Mfg Corporation's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 164.773 mill. $ 264.520 mill. $ 28.328 mill.


Hni Corporation
Share Performance



+4.89%
This Year



Hni Corporation
Profile

HNI Corporation's business model revolves around manufacturing and selling office furniture and hearth products. They generate revenue by providing high-quality and customizable solutions to businesses and consumers in the office furniture and fireplace industries.

More about Hni Corporation's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 1,966.646 mill. $ 2,433.300 mill. $ 49.200 mill.


Knoll Inc
Share Performance



+47.12%
This Quarter



Knoll Inc
Profile

Knoll Inc is a company that operates on a business model focused on the design, manufacturing, and sale of furniture and accessories for workplaces and residential settings, catering to the demand for innovative and functional designs. The company aims to offer high-quality products through collaborations with renowned designers and architects, and to reach customers through various sales channels, including direct sales, independent dealers, and online platforms.

More about Knoll Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 1,233.571 mill. $ 1,187.700 mill. $ 6.400 mill.


Steelcase Inc
Share Performance



-5.91%
30 Days



Steelcase Inc
Profile

Steelcase Inc operates as a leading manufacturer of office furniture and architectural interiors. The company follows a business model based on producing and selling innovative workplace solutions that enhance collaboration, productivity, and employee well-being. Steelcase also emphasizes sustainability and designs its products to have a minimal environmental impact.

More about Steelcase Inc's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 1,509.200 mill. $ 3,186.100 mill. $ 75.500 mill.



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