What are Nova Lifestyle Inc's Business Segments?
We market and develop modern home furniture for today’s middle class,
urban consumer in diverse markets worldwide. Our product offerings feature urban
contemporary styles offering comfort and functionality in matching furniture
collections and upscale luxury pieces appealing to lifestyle-conscious middle
and upper middle-income consumers. Many of our products are part of multi-piece
lifestyle collections in distinctive styles targeted at the medium and upper-medium
price ranges and feature upholstered, wood and metal-based residential furniture
pieces. We classify our products by room; or series, including living room,
dining room, bedroom and home office, and by category or piece such as sofas,
chairs, dining tables, beds, entertainment consoles, cabinets and cupboards.
Our products are manufactured primarily from medium-density fiberboard, or
MDF board, and particleboard covered with veneers or lacquers and combined with
other materials, including steel, glass, marble, leather and fabrics.
Our product offerings consist of a mix of furnishings designed and manufactured
by us and products sourced from third party manufacturers. We operate manufacturing
facilities through our wholly owned subsidiary, Nova Dongguan, and have developed
a design process that enables us to better manage the short product life cycle
for furniture designs by anticipating and responding quickly to changing consumer
preferences. Through market research, customer feedback, and ongoing design
development; we identify new trends and customer needs in our target markets
for incorporation into new products, collections and brands. Our products and
collections are designed to appeal to consumer preferences in specific markets.
We develop both individual pieces and collections for entire rooms, which feature
matching furniture suites, providing convenient whole-home furnishing options
for lifestyle-conscious end consumers. We generally introduce new collections
and styles by participating in international furniture exhibitions and through
our sample rooms, and support new product launches with promotions, product
brochures and online marketing. Our staff works with customers worldwide to
design store and showroom layouts that highlight our matching furniture collections
by displaying complete and fully accessorized room settings instead of individual
furniture pieces. We believe that this style of presentation in stores encourages
consumers to purchase an entire room of furniture instead of individual pieces
from different brands or manufacturers. We also source finished products based
on our designs or those of our customers from third party manufacturers in order
to provide products we do not manufacture currently or to fulfill orders placed
by customers in international markets. We believe that our products feature
the quality, appearance, functionality and price points sought by today’s
middle to upper middle-income consumers in China, the U.S., and in the international
markets.
|