Richloom Opens China Approved Trading Company
July 20, 2006
NEW YORK, New York - According to Tony Riggio, V.P. of Richloom's contract division and Andrew Riesel, Executive V.P., Richloom Shanghai Trading Company Ltd. has been approved by the China PRC government after initially establishing a representative office in Shanghai as Richloom Fabrics Group in 2004.
Since early this year, Jay Carlson has served as V.P. of Asian operations for this new entity which is wholly owned by Richloom Fabrics Group, it was confirmed.
Carlson has been part of the operation and moved to China with his family two years ago.
''Richloom contract is showing six new finished product offerings in Shanghai and then in Miami at HD Boutique for sale to the hospitality industry.'' The Chinese made and sourced collections include duvets, shams, scarves and bed throws for the hotel industry. Riggio is now targeting about 50 hospitality customers in the USA and Asian markets. ''I spent time at the second HD Asia in June and was very impressed with the quality of the visitors,'' he said.
Unlike many joint ventures between European and American companies in China, there are no Chinese partners in this company, Richloom confirms. It is strictly owned by Richloom, which is a departure from what many American companies have done in the past. What is truly unique about Richloom's transition is that it lies in stark contrast to other converters and importers who continue to operate as extensions of Chinese suppliers in the U.S. and Europe without being actively involved in the creation of the finished product. This leaves those companies vulnerable to retailers and sources that end up going direct, bypassing the middle man.
In addition, Riggio said that Richloom is producing finished bedding and fabrics for the hospitality industry in China for sale in China and throughout Asia and FOB China back to the USA.
''Our residential and contract bedding and fabric lines will be shown at Intertextile Shanghai for the first time in August,'' Riggio explained. ''We expect a flurry of sales and inquiries from Asian buyers.'' Richloom's V.P. of Global Sourcing Glenda Soloniuk Spangler, will attend Intertextile this year along with other Richloom team members. Designs for finished products and piece goods are being produced in the States as well as in the Shanghai office, Riesel said. ''While our main design studio is in New York, more design is being done by our Shanghai division than previously.'' With these announcements, Richloom Fabrics Group has made the transition into a trading and sourcing company, rather than being purely a converter of decorative fabrics.
The Shanghai based Richloom office employs 30 people on two floors with an active business buying, sourcing and selling fabrics made in China as well as finished bedding and ready-mades for the residential market, including outdoor furniture fabrics and decorative fabrics. ''Much attention is being paid to quality control operations, as well'' said Andrew Riesel.
''We are sourcing and producing products more and more in China but it is not our only source of supply. We do business in many countries including Korea, Taiwan, Turkey, Europe and we're developing Vietnam,'' he said. ''We also have ongoing established relationships with fabric resources worldwide which we continue to utilize,'' he added. He further states that China will not be the only game in town for the future but it is currently the fastest growing sourcing area for Richloom, especially in commodity and mid-tier price points.
Since early this year, Jay Carlson has served as V.P. of Asian operations for this new entity which is wholly owned by Richloom Fabrics Group, it was confirmed.
Carlson has been part of the operation and moved to China with his family two years ago.
''Richloom contract is showing six new finished product offerings in Shanghai and then in Miami at HD Boutique for sale to the hospitality industry.'' The Chinese made and sourced collections include duvets, shams, scarves and bed throws for the hotel industry. Riggio is now targeting about 50 hospitality customers in the USA and Asian markets. ''I spent time at the second HD Asia in June and was very impressed with the quality of the visitors,'' he said.
Unlike many joint ventures between European and American companies in China, there are no Chinese partners in this company, Richloom confirms. It is strictly owned by Richloom, which is a departure from what many American companies have done in the past. What is truly unique about Richloom's transition is that it lies in stark contrast to other converters and importers who continue to operate as extensions of Chinese suppliers in the U.S. and Europe without being actively involved in the creation of the finished product. This leaves those companies vulnerable to retailers and sources that end up going direct, bypassing the middle man.
In addition, Riggio said that Richloom is producing finished bedding and fabrics for the hospitality industry in China for sale in China and throughout Asia and FOB China back to the USA.
''Our residential and contract bedding and fabric lines will be shown at Intertextile Shanghai for the first time in August,'' Riggio explained. ''We expect a flurry of sales and inquiries from Asian buyers.'' Richloom's V.P. of Global Sourcing Glenda Soloniuk Spangler, will attend Intertextile this year along with other Richloom team members. Designs for finished products and piece goods are being produced in the States as well as in the Shanghai office, Riesel said. ''While our main design studio is in New York, more design is being done by our Shanghai division than previously.'' With these announcements, Richloom Fabrics Group has made the transition into a trading and sourcing company, rather than being purely a converter of decorative fabrics.
The Shanghai based Richloom office employs 30 people on two floors with an active business buying, sourcing and selling fabrics made in China as well as finished bedding and ready-mades for the residential market, including outdoor furniture fabrics and decorative fabrics. ''Much attention is being paid to quality control operations, as well'' said Andrew Riesel.
''We are sourcing and producing products more and more in China but it is not our only source of supply. We do business in many countries including Korea, Taiwan, Turkey, Europe and we're developing Vietnam,'' he said. ''We also have ongoing established relationships with fabric resources worldwide which we continue to utilize,'' he added. He further states that China will not be the only game in town for the future but it is currently the fastest growing sourcing area for Richloom, especially in commodity and mid-tier price points.
