American Century Forges Partnership With Chinese Mills
August 7, 2002
High Point - American Century president David Petrusch projects $100 million in sales within five years spurred by new lines and increased penetration of the furniture industry by fabrics in the $5.95 plus price range. Petrusch also confirmed sales of $20 million in 2002 after almost nine years of sales to the American jobber, retailer and furniture manufacturer.
The bullish forecasting for the company follows signing a partnership agreement with four Chinese mills to stock and distribute upholstery lines for the U.S. market. ''American Century now has a partnership agreement with four mills all within three hours of Shanghai,'' he told F&FI. ''The group of four mills has combined production of 450 looms, with 60 of the latest 108 inch width looms from the state-of-the-art Sulzer and Somet in place in China. We also had good relationships with some of the Italian mills.
''American Century has made inroads with Sam Moore, a division of La-Z-Boy, locking up 15 percent of the floor at last market in April. We also did very well in Thomasville, Clayton Marcus, Kroehler Dunmore, Lee Industries, Craftmaster, Taylor King, Drexel Heritage, Hickory Chair, Southern, Alan White and Vanguard,'' said Petrusch.'' The North Carolina-based company''s offerings are strictly in open lines at the moment, but Jiang said it may do exclusives in two years, according to American Century chairman Jason Jiang.
Jiang said the company would use 95 percent American design styled by American Century designers under the direction of Petrusch.
Petrusch, a veteran in fabrics and furniture industry, said he''s concerned that his company''s designs are being copied. ''There is no future in copying,'' he said. We copyrighted every of our designs in America and we will keep the rights for possible legal actions.''
In other American Century developments, John Bachman has been hired as executive vice president. He will run day-to-day operations, including customer service. Beth Meyer and Daniel Clement will be responsible for customer service as well.
At Showtime in July, American Century showed its products to customers in a 3,000 square foot showroom on the eighth floor of the Textile Tower. The company will offer expanded lines of chenilles featuring multiple colors in piece-dyed yarns, a technique developed almost three years ago by Petrusch. American Century''s design team headed by Stacie Brasco in Boston contributed outstanding designs, Petrusch said.
Although American Century''s focus is sales in America, JST America Inc., the sister company to American Century, will handle export to Europe, Australia, South America.
American Century operates a 27,000 square foot warehouse five minutes from the High Point headquarters in Archdale, N.C. It holds 10,000 pieces programmed for eight- to ten-week quick delivery to the furniture industry, jobbers and retailers. F&FI
The bullish forecasting for the company follows signing a partnership agreement with four Chinese mills to stock and distribute upholstery lines for the U.S. market. ''American Century now has a partnership agreement with four mills all within three hours of Shanghai,'' he told F&FI. ''The group of four mills has combined production of 450 looms, with 60 of the latest 108 inch width looms from the state-of-the-art Sulzer and Somet in place in China. We also had good relationships with some of the Italian mills.
''American Century has made inroads with Sam Moore, a division of La-Z-Boy, locking up 15 percent of the floor at last market in April. We also did very well in Thomasville, Clayton Marcus, Kroehler Dunmore, Lee Industries, Craftmaster, Taylor King, Drexel Heritage, Hickory Chair, Southern, Alan White and Vanguard,'' said Petrusch.'' The North Carolina-based company''s offerings are strictly in open lines at the moment, but Jiang said it may do exclusives in two years, according to American Century chairman Jason Jiang.
Jiang said the company would use 95 percent American design styled by American Century designers under the direction of Petrusch.
Petrusch, a veteran in fabrics and furniture industry, said he''s concerned that his company''s designs are being copied. ''There is no future in copying,'' he said. We copyrighted every of our designs in America and we will keep the rights for possible legal actions.''
In other American Century developments, John Bachman has been hired as executive vice president. He will run day-to-day operations, including customer service. Beth Meyer and Daniel Clement will be responsible for customer service as well.
At Showtime in July, American Century showed its products to customers in a 3,000 square foot showroom on the eighth floor of the Textile Tower. The company will offer expanded lines of chenilles featuring multiple colors in piece-dyed yarns, a technique developed almost three years ago by Petrusch. American Century''s design team headed by Stacie Brasco in Boston contributed outstanding designs, Petrusch said.
Although American Century''s focus is sales in America, JST America Inc., the sister company to American Century, will handle export to Europe, Australia, South America.
American Century operates a 27,000 square foot warehouse five minutes from the High Point headquarters in Archdale, N.C. It holds 10,000 pieces programmed for eight- to ten-week quick delivery to the furniture industry, jobbers and retailers. F&FI