Nova Lifestyle Inc (NVFY) |
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Nova Lifestyle Inc's Customers Performance
NVFY
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NVFY's Source of Revenues |
Nova Lifestyle Inc's Corporate Customers have recorded an advance in their cost of revenue by 9.4 % in the 2 quarter 2022 year on year, sequentially costs of revenue grew by 19.22 %. During the corresponding time, Nova Lifestyle Inc sequentially revenue fell by -2.17 %. While revenue at the Nova Lifestyle Inc 's corporate clients recorded rose by 8.01 % year on year, sequentially revenue grew by 17.54 %.
• List of NVFY Customers
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Nova Lifestyle Inc's Customers have recorded an advance in their cost of revenue by 9.4 % in the 2 quarter 2022 year on year, sequentially costs of revenue grew by 19.22 %, for the same period Nova Lifestyle Inc sequentially revnue fell by -2.17 %.
• List of NVFY Customers
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Customers recorded net loss in Q2 |
Customers recorded net loss |
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Nova Lifestyle Inc's Comment on Sales, Marketing and Customers
Our target end customer is the middle and upper middle-income consumer of residential
furniture. In China, we currently sell our products through stores in our franchise
network and to unaffiliated retail stores and distributors. We initiated internet
sales of our products direct to consumers in China through our own online store
in September 2012. In the U.S. and international markets, our sales principally
are to furniture distributors and retailers who in turn offer our products under
their own brands or under our Diamond Sofa brand. Our two largest customers were
Encore Sofa Inc. and High Fashion Home which in total accounted for 13.5% of our
total sales. Our two largest customers in 2014 were Actona Company A/S, a global
furniture distributor and Dongguan Metals and Minerals Import and Export Company
(Dongguan Wu Jin Kuang Ye), which in total accounted for 14% of our sales. No
individual customer accounted for greater than 10% of our sales. We plan to increase
direct sales to retailers and chain stores worldwide as we continue to diversify
our customer base from global furniture distributors.
Franchisees agree to sell products from one of our Colorful World and Giorgio
Mobili brands pursuant to a product franchise agreement for a period of one year
and guarantee to purchase a minimum amount of goods from us. The product franchise
agreement is renewable and we retain the right to terminate the agreement should
the franchisee fail to meet the minimum purchase amount requirements or our quality
standards. We believe that consumers in China seek quality and stylish furniture
designed as stand-alone pieces and whole furniture suites. We believe that our
sales in China will grow significantly as we continue to expand our franchise
store network for our distinctive brands and pursue internet-based sales of our
new brands.
In the U.S. and international markets, we focus on establishing and growing
long-term relationships with our customers. We believe that the majority of
our customers view us as a strategic long-term supplier and value the quality
of our products, our timely delivery and design capabilities. We expect that
a majority of our sales will continue to come from our sales to the U.S. and
international markets. We acquired Diamond Bar in August 2011, which has driven
expansion of our sales to the U.S., Mexico, and South America through Diamond
Bar’s longstanding customer relationships and distribution capabilities.
In addition, we anticipate increasing internet sales under the Diamond Sofa
brand through third-party shopping portals. We believe that as we expand our
broad network of distributors and increase direct sales, our exposure to regional
recessions will be reduced and allow us to better capitalize on emerging market
trends.
We typically experience stronger fourth and first calendar quarters as our product
sales are subject to the seasonality and fluctuations typical of the furniture
industry. This industry-based seasonality generally is caused by shipping lead-times
to international markets combined with the real estate market slowdown and decrease
in furniture consumption commonly experienced during the summer months in the
Northern Hemisphere markets in which the majority of our customers are located
and our products sell at retail. In addition, we believe that consumer demand
for furniture generally reflects sensitivity to overall economic conditions,
including, but not limited to, unemployment rates, housing market conditions
and consumer confidence.
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Nova Lifestyle Inc's Comment on Sales, Marketing and Customers
Our target end customer is the middle and upper middle-income consumer of residential
furniture. In China, we currently sell our products through stores in our franchise
network and to unaffiliated retail stores and distributors. We initiated internet
sales of our products direct to consumers in China through our own online store
in September 2012. In the U.S. and international markets, our sales principally
are to furniture distributors and retailers who in turn offer our products under
their own brands or under our Diamond Sofa brand. Our two largest customers were
Encore Sofa Inc. and High Fashion Home which in total accounted for 13.5% of our
total sales. Our two largest customers in 2014 were Actona Company A/S, a global
furniture distributor and Dongguan Metals and Minerals Import and Export Company
(Dongguan Wu Jin Kuang Ye), which in total accounted for 14% of our sales. No
individual customer accounted for greater than 10% of our sales. We plan to increase
direct sales to retailers and chain stores worldwide as we continue to diversify
our customer base from global furniture distributors.
Franchisees agree to sell products from one of our Colorful World and Giorgio
Mobili brands pursuant to a product franchise agreement for a period of one year
and guarantee to purchase a minimum amount of goods from us. The product franchise
agreement is renewable and we retain the right to terminate the agreement should
the franchisee fail to meet the minimum purchase amount requirements or our quality
standards. We believe that consumers in China seek quality and stylish furniture
designed as stand-alone pieces and whole furniture suites. We believe that our
sales in China will grow significantly as we continue to expand our franchise
store network for our distinctive brands and pursue internet-based sales of our
new brands.
In the U.S. and international markets, we focus on establishing and growing
long-term relationships with our customers. We believe that the majority of
our customers view us as a strategic long-term supplier and value the quality
of our products, our timely delivery and design capabilities. We expect that
a majority of our sales will continue to come from our sales to the U.S. and
international markets. We acquired Diamond Bar in August 2011, which has driven
expansion of our sales to the U.S., Mexico, and South America through Diamond
Bar’s longstanding customer relationships and distribution capabilities.
In addition, we anticipate increasing internet sales under the Diamond Sofa
brand through third-party shopping portals. We believe that as we expand our
broad network of distributors and increase direct sales, our exposure to regional
recessions will be reduced and allow us to better capitalize on emerging market
trends.
We typically experience stronger fourth and first calendar quarters as our product
sales are subject to the seasonality and fluctuations typical of the furniture
industry. This industry-based seasonality generally is caused by shipping lead-times
to international markets combined with the real estate market slowdown and decrease
in furniture consumption commonly experienced during the summer months in the
Northern Hemisphere markets in which the majority of our customers are located
and our products sell at retail. In addition, we believe that consumer demand
for furniture generally reflects sensitivity to overall economic conditions,
including, but not limited to, unemployment rates, housing market conditions
and consumer confidence.
NVFY's vs. Customers, Data
(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)
COMPANY NAME |
MARKET CAP |
REVENUES |
INCOME |
EMPLOYEES |
Nova Lifestyle Inc |
10.59 |
14.18 |
-17.86 |
726 |
Williams sonoma Inc |
18,477.43 |
5,401.17 |
950.32 |
28,100 |
Best Buy Co Inc |
16,851.82 |
46,298.00 |
1,419.00 |
105,000 |
Costco Wholesale Corp |
325,355.34 |
248,828.00 |
6,794.00 |
304,000 |
Dillard s inc |
6,972.25 |
6,878.03 |
777.53 |
40,000 |
Target Corporation |
77,571.30 |
107,412.00 |
4,138.00 |
450,000 |
Walmart Inc |
494,240.55 |
611,289.00 |
11,292.00 |
2,300,000 |
Kohl s Corp |
2,787.47 |
17,539.00 |
-142.00 |
137,000 |
Macys Inc |
6,088.80 |
23,755.00 |
684.00 |
166,900 |
Berkshire Hathaway Inc |
492,047.10 |
349,271.00 |
77,710.00 |
0 |
Big Lots Inc |
106.07 |
4,831.39 |
-463.63 |
36,100 |
The Kroger Co |
40,737.75 |
147,797.00 |
1,881.00 |
420,000 |
Bed Bath and Beyond Inc |
7.29 |
5,344.69 |
-3,498.80 |
60,000 |
Kb Home |
5,629.77 |
6,410.63 |
590.18 |
1,590 |
Stanley Black and Decker Inc |
11,993.34 |
15,781.10 |
-281.70 |
71,300 |
Snap on Inc |
15,486.11 |
5,108.30 |
1,034.60 |
12,800 |
Brunswick Corporation |
6,136.71 |
6,401.40 |
420.40 |
12,165 |
Leggett and Platt Inc |
2,518.49 |
4,724.80 |
-136.80 |
22,000 |
Masco Corporation |
16,687.32 |
7,967.00 |
960.00 |
20,000 |
Fluor Corporation |
7,018.50 |
15,573.00 |
123.00 |
37,508 |
J c penney Company Inc |
59.14 |
7,531.00 |
-1,285.00 |
114,000 |
Home Depot Inc |
372,722.25 |
152,669.00 |
15,143.00 |
490,600 |
Lowes Companies Inc |
140,487.96 |
90,219.00 |
7,664.00 |
340,000 |
D r Horton Inc |
50,861.91 |
35,928.60 |
4,782.60 |
13,237 |
Lennar Corp |
44,924.27 |
34,233.37 |
3,961.29 |
9,495 |
Illinois Tool Works Inc |
80,332.04 |
16,107.00 |
2,957.00 |
45,000 |
Fastenal Co |
43,283.91 |
7,346.50 |
1,155.00 |
20,507 |
W w Grainger Inc |
50,204.86 |
16,478.00 |
1,903.00 |
24,200 |
Beam Therapeutics Inc |
2,798.26 |
81.55 |
-313.67 |
0 |
Newell Brands Inc |
3,161.79 |
8,133.00 |
-388.00 |
32,000 |
Lgi Homes Inc |
2,531.51 |
2,358.58 |
199.23 |
390 |
Emcor Group Inc |
15,622.73 |
12,582.34 |
633.33 |
27,000 |
New Home Co Inc |
165.83 |
497.10 |
5.23 |
234 |
Meritage Homes Corporation |
5,831.03 |
1,518.56 |
738.75 |
1,409 |
Nvr Inc |
25,991.07 |
9,518.20 |
1,591.61 |
6,600 |
Covanta Holding Corporation |
2,793.12 |
2,034.00 |
25.00 |
0 |
Beazer Homes Usa Inc |
916.76 |
2,147.69 |
156.01 |
1,063 |
M d c Holdings Inc |
4,746.87 |
4,520.11 |
401.01 |
0 |
Mi Homes Inc |
3,510.76 |
4,033.50 |
465.37 |
1,008 |
Hovnanian Enterprises Inc |
915.96 |
2,463.18 |
132.53 |
0 |
Toll Brothers Inc |
13,355.49 |
9,994.94 |
1,372.07 |
3,900 |
Achari Ventures Holdings Corp I |
35.36 |
855.20 |
-2.25 |
214 |
Tutor Perini Corporation |
663.87 |
3,879.62 |
-127.60 |
10,626 |
The St Joe Company |
3,081.02 |
389.29 |
74.05 |
61 |
Xinyuan Real Estate Co Ltd |
285.80 |
950.01 |
-258.68 |
1,007 |
Stratus Properties Inc |
181.44 |
26.30 |
-21.13 |
114 |
Taylor Morrison Home Corp |
6,245.72 |
7,901.79 |
871.98 |
113 |
Tri Pointe Homes Inc |
3,409.13 |
4,167.88 |
349.20 |
1,036 |
Century Communities Inc |
2,834.08 |
3,727.03 |
194.24 |
510 |
Green Brick Partners Inc |
2,500.70 |
1,758.42 |
287.48 |
0 |
Nobility Homes Inc |
122.17 |
64.82 |
11.32 |
129 |
Bassett Furniture Industries Incorporated |
128.69 |
389.49 |
-3.17 |
2,237 |
Ethan Allen Interiors Inc |
835.54 |
704.51 |
80.11 |
5,200 |
Flexsteel Industries Inc |
182.75 |
391.67 |
15.24 |
1,460 |
Hooker Furnishings Corporation |
253.45 |
477.68 |
7.43 |
645 |
Kimball International Inc |
458.82 |
703.89 |
-19.46 |
3,081 |
La z boy Incorporated |
1,577.91 |
2,052.87 |
118.95 |
8,700 |
Hg Holdings Inc |
16.76 |
13.81 |
1.21 |
71 |
Tempur Sealy International Inc |
9,306.91 |
4,924.70 |
370.70 |
7,200 |
Virco Mfg Corporation |
164.77 |
264.52 |
28.33 |
695 |
Escalade Incorporated |
185.20 |
270.20 |
9.67 |
522 |
Hd Supply Holdings inc |
8,947.43 |
5,159.50 |
1,889.20 |
14,000 |
Hni Corporation |
1,966.65 |
2,433.30 |
49.20 |
10,400 |
Millerknoll Inc |
2,266.09 |
3,897.20 |
83.30 |
0 |
Knoll Inc |
1,233.57 |
1,187.70 |
6.40 |
3,386 |
Steelcase Inc |
1,509.20 |
3,186.10 |
75.50 |
11,000 |
Now Inc |
1,558.44 |
2,313.00 |
133.00 |
4,500 |
Quanex Building Products Corporation |
1,187.90 |
1,107.82 |
86.84 |
4,138 |
Park ohio Holdings Corp |
326.76 |
1,497.50 |
-9.90 |
600 |
Techprecision Corporation |
31.83 |
33.19 |
-0.63 |
102 |
Intest Corp |
137.14 |
128.69 |
11.82 |
316 |
Crawford United Corp |
152.08 |
141.53 |
13.13 |
451 |
SUBTOTAL |
2,463,718.10 |
2,112,004.94 |
149,875.90 |
5,447,620 |
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