Markor International Home Furnishings Co., Ltd and Starwood Furniture Manufacturing Vietnam Corporation have signed an agreement through which Markor will become Starwood Furniture’s major shareholder.
Starwood Furniture is a full line manufacturer of quality oriented home furnishings based near Ho Chi Minh City, Vietnam. Under the agreement, Markor and Starwood Furniture will fully integrate their combined resources in the critical areas of product development, manufacturing, warehousing and container transportation to establish a synergistic product supply service system.
The two companies are committed to driving efficiencies, which will improve product quality and inventory feed, resulting in markedly improved customer order fulfillment. With the furthering of this partnership, MIHF will eventually become the majority shareholder of Starwood Furniture to insure its sustainable growth in the long term.
“Starwood Furniture and Markor have had a long working relationship,” said Mark Feng, CEO of Markor’s US based international business division. “This new strategic alliance will help Markor enhance its global supply chain network and will form a more mature supply chain collaboration between the two companies. The new agreement combines the core competencies of both parties, Markor’s expanding global ecosystem of home furnishings operations with Starwood Furniture’s advanced Vietnam manufacturing resources.”
Markor’s International Business Division, including A.R.T. Furniture and Caracole, has enjoyed a long-term sourcing relationship with Starwood Furniture. Starwood Furniture is currently a key supplier to many of the top furniture retailers in the US. Under the new partnership, both parties will continue to deliver best-in-class products and services to their existing customers. While A.R.T. and Caracole will now receive priority manufacturing support, current customers of Starwood Furniture will also benefit from enhanced customer deliveries as a result of Starwood Furniture’s optimization and integration of Markor’s sophisticated demand forecasting technology.
Starwood Furniture, founded in 2004, is located 40km from Ho Chi Minh City at Tan Uyen District, Binh Duong Province. It has 1.7 million square feet of factory space and currently employs a workforce of approximately 3,000. Starwood Furniture produces a wide range of products including bedroom, dining, occasional, upholstery, home entertainment and home office furniture collections.
Markor, founded in 1990 by Richard Feng, chairman and CEO, owns four U.S. subsidiaries — A.R.T. Furniture, Caracole, Jonathan Charles, and Rowe Furniture — and operates 10 advanced manufacturing facilities in China. Markor in China, operates six distribution brands: Markor Furnishings, Rehome, yvvy, Zest, A.R.T. and A.R.T. Epicenters. Markor has 300 stores in China. The company distributes its products to close to 60 countries through a large network of retail partners. It employs approximately 13,000 people and is listed on the Shanghai Stock Exchange.
