N.C. Furniture Export Office to scout Brazil market
Thomas Russell -- Furniture Today, June 20, 2011
HIGH POINT — The North Carolina Furniture Export Office is headed to Brazil this month as part of a fact-finding mission that will bring back information to furniture exporters interested in selling to the growing South American market.
The June 26-July 1 trip will include representatives from the state and the U.S. Department of Commerce, who will visit retailers and possibly distributors. They'll travel to Brazil's two largest cities, Rio de Janeiro (population 10 million) and Sao Paulo (population 11 million).
They also plan to meet with legal officials to discuss how to overcome the challenges of exporting to Brazil.
Mike Padjen, director of the Furniture Export Office, said his office organized the trip in response to requests from furniture manufacturers. "We inquire amongst our clients and Brazil just kept coming up," he said.
Padjen said the trip will help Commerce officials and industry exporters better understand issues such as tariffs and tax structures, as well as the market in general.
"We want these companies to understand the market better and want to help them understand how to do business in Brazil better," Padjen said.
He and others believe the timing is right because of the strength of Brazil's economy and its currency, the real, which is currently valued at about 1.58 per U.S. dollar, compared with 1.94 in June 2009 and 2.23 in June 2006. A stronger real means Brazilians can more easily afford goods priced in dollars.
Lexington Home Brands also is taking part in the trip. Art Negrin, vice president of international sales for Lexington Home Brands, noted that Brazil's economy is improving.
"We have all seen the reports and have been reading about the changes in the economy there, and I don't think it's too early and it's not too late to be looking at the market," he said. "It's still a difficult place and there are some obstacles to entry, but (it is) a relevant time for companies like us that are toward the higher end to find the right partners."
"Brazil has been characterized as a country of the future," Negrin added. "They have turned the corner.... There are opportunities that might not have been so ripe just a year or two ago, even though the country has had more than just a few strong years of growth."
Brazil is poised for more worldwide recognition as the site of soccer's 2014 World Cup and the 2016 Summer Olympics.
Brazil also has been buying more U.S. furniture. According to Furniture/Today market research, the country was the 10th largest consumer of U.S. furniture exports in 2010 with purchases of $19.3 million, up 82% from $10.6 million in 2009.
-
Interior Lifestyle China show set for Oct. 10-13
May 18, 2012 -
Duty Collection in Flux
Jul 12, 2011
Featured Company
-
Brandwise Inc.
Brandwise serves a model - not just an industry - by integrating, automating, and optimizing the entire sales channel, from wholesale Suppliers to their Reps and the Retailers they service. In short, our software helps Reps and Suppliers sell more and create... more
VIEW ALL GALLERIES
