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Baht/$ 33.49/53
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GOLD |
14,000
- 150
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FURNITURE
KRISSANA PARNSOONTHORN
Thomasville president Edward Tiplitz and Chanintr Sirisant, CEO of Chanintr Fine Furnishings, discuss the high-end market during the Thomasville chief's visit to Thailand over the weekend. |
The US furniture maker Thomasville Furniture Industries Inc is optimistic about Asian markets including Thailand, which are having a modest impact from the sub-prime mortgage crisis. ''While the world is dealing with many problems including high inflation, rising gas and food prices and wars, Asia is still doing well, particularly China and India, with strong demand for furniture,'' president Edward Tiplitz said during his weekend visit in Bangkok.
The Asian growth has been driven mainly by domestic consumption for a few years. But Asia is now seeing a decline in consumer confidence and spending as some people spend less when the economy is not as good.
However, Chanintr Sirisant, CEO of Chanintr Fine Furnishings, the sole distributor of Thomasville in Thailand, said consumer confidence here was still better than in the US.''Our economy is still showing growth and I can say that my furniture business is still all right. There is steady demand as a lot of luxury houses are completed and their owners will buy furniture to decorate their homes,'' he added.
Thomasville now has some production in China, Indonesia and the Philippines due to lower production costs. Its main manufacturing facilities remain in North Carolina and Virginia in the US.
Mr Tiplitz said he was looking to outsourcing some products or establishing a factory in Thailand if financial proposals were viable.
Currently, most Thomasville furniture sold in Thailand is imported from the US. The import tax on furniture here is as high as 20% when compared to 5% in Malaysia.
Mr Chanintr pinned his hopes on the renewed negotiations for a free trade agreement between Thailand and the United States as the pact would help lower import taxes on furniture to the kingdom.
Thomasville wants to strengthen its reputation in the Thai high-end furniture market with the co-ordination of the local distributor Chanintr Fine Furniture. Currently, there is only one Thomasville outlet, located at Siam Paragon.
''We will continue to focus on the Bangkok furniture market. However, we are looking for possibilities in Phuket and Chiang Mai as there are many expensive villas being built there as well,'' Mr Chanintr said.
Mr Tiplitz believes the furniture market (both international and local) is tough and surviving producers have to adjust by having customer service, unique designs and high quality to win the hearts of consumers in the long term.
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