DeCoro plans big expansion
By Joan Gunin -- Furniture Today, January 8, 2006
Shenzhen, China — Leather upholstery producer DeCoro will begin a plant expansion here next month as it positions itself to cross over into the case goods segment.
The Italian-owned company will nearly double the size of its facilities, workforce and capacity to meet a growing demand for its seating products and enable its expansion into case goods, said President and CEO Luca Ricci.
DeCoro, with worldwide sales of about $260 million in 2005, launched its first wood collection, including dining and home entertainment, at the High Point market in October. Additional case pieces will be unveiled in April.
To augment its three-year-old, 2-million-square-foot compound here, a second 1.5-million-square-foot complex of several buildings will be built on a site about 10 minutes away.
DeCoro, which already has 3,000 employees, plans to add another 2,500.
The expanded workforce will enable DeCoro to produce 70 to 90 containers a day, up from its current daily output of 45 to 50 containers, Ricci said.
The Decoro-branded case goods program will include dining, bedroom and home entertainment in globally sourced solid woods and veneers, he said. Case pieces "will all be done in a nice Italian style," he said.
At a cost of $15 million to $20 million, construction of the new plant will begin in February with completion set for November.
"We are seeing increasing demand for our products, especially after the last High Point market. ... It was the biggest High Point show ever for us," Ricci said.
DeCoro also continues to pursue a public stock offering in Hong Kong, Ricci added.
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