On October 6, 2018, Markor International Home Furnishings Co., Ltd. (hereinafter referred to as Markor Home) announced that it has reached an agreement with Vietnam's full range of furniture manufacturer Starwood Furniture, which will become the company's major shareholder. The statement issued by Starwood Furniture was announced at the moment when the United States announced that it would impose more than $200 billion in tariffs on manufacturing consumer goods (including furniture) in China.

The 10% tariff imposed by the United States on products in the Chinese market has entered into force on September 24 this year. The United States is still planning to increase tariffs to 25% unless China can reach an agreement with the United States by January 1, 2019. Markor's home choice will shift production to Vietnam, and will also protect US customers from the significant impact of tariff policies.

It is unclear when Markor will become a major shareholder of Vietnam's Starwood Furniture, and the transaction amount has not been disclosed. Starwood Furniture said the cooperation will help maintain the long-term growth of its business.

Founded in 2004, Starwood Furniture has a production scale of 158,000 square meters and employs 3,000 people in Vietnam to produce a wide range of bedroom furniture, dining and leisure furniture as well as home furnishings, home entertainment and home office furniture.

Through this cooperation, the two companies indicated that they will fully integrate their resources in the areas of product development, manufacturing, warehousing and container transportation to “establish a synergistic product supply service system. The company will improve product quality and inventory supply to improve efficiency. Ultimately, it will bring better delivery and shopping experience to consumers."

Starwood Furniture has a long-standing relationship with Markor Home, and Carorole and A.R.T. brands at Markor's home have been sourcing products from Starwood Furniture for many years. After the cooperation, these departments will receive priority support. In addition, Starwood Furniture will continue to produce furniture for other customers.

Abour Markor

In 1990, Mr. Feng Dongming, Chairman and CEO, founded Markor Home. At present, there are 10 technologically advanced furniture production bases in China, most of which are located in Tianjin and some in Urumqi. In addition to Caracole and A.R.T., Markor Home also owns American home decor brand Rowe Furniture and high-end wood furniture brand Jonathan Charles, which has its own factory in Vietnam. For many years, Markor's Caracole and A.R.T. brands have been produced at the Tianjin plant, which also supplies the Markor Home China market.

（Source: JJgle.com）