POTTERY BARN INKS NEW SINGAPORE DEAL
SAN FRANCISCO - 10/19/04 - Pottery Barn has signed a deal with Koda Ltd. for the Singapore-based leather and wood home furniture manufacturer to supply the company with about $13 million worth of products next year.
Pottery Barn, a brand subsidiary of San Francisco-headquartered Williams Sonoma, sells home furnishing products such as furniture, lighting accessories and tableware through a network of about 80 stores throughout the US.
Koda claims more than 150 corporate customers in more than 50 countries, including the US and the UK.
The Singapore company started supplying furniture to Pottery Barn last year, delivering about $4 million worth of goods. Deliveries this year, the company said, are expected to reach $7 million in value.
The latest $22-million deal with Pottery Barn is significant, considering that Koda's total sales for the year ended June reached $53 million, which was a 44% jump from a year ago.
The US market accounted for 29% of the company's total sales.
Koda will be making the furniture for Pottery Barn mainly in Vietnam, where it will go ahead with plans to build its sixth factory in the country, expected to be completed by the end of next year.
Currently, Vietnam accounts for 55% of Koda's total production output while the company also owns six factories in Malaysia.
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