Penedo Shoots For 'Italian Look and Fashion' at Lower Prices
January 5, 2001
Mascotelos, Guimarães (Portugal) — Téxteis Penedo is shoring up its export effort with particular attention to Japan, according to Xavier Leite, general manager.
"We have reinforced exports to Asia as well as to countries like Australia and New Zealand, where we have achieved some good orders," he said. "In 2001, we expect Japan to account for 5-10% of sales. The next step will be the opening of the Brazilian market, beginning in the first half of 2001."
Exports to many markets commenced around 10 years ago and now account for more than 95% of turnover. The U.S.A. is the principal market (55% of sales), with the company exporting more than 60% of its output outside Europe. As well as an office on Fifth Avenue in New York City, the company has subsidiaries in Italy and France.
The company, which celebrated its 25th anniversary last year, produces bedspreads, bedlinen, tablelinen, blankets, rugs for the bathroom and bedroom, together with a range of other home textiles including furnishing fabrics and upholstery. Its products are generally geared toward the middle to high end of the market.
Bedspreads currently represent about 40% of sales, followed by bedlinen (20%), tablecloths (20%), with the remainder including curtains, kitchenware and blankets.
Founded in 1975 as a small firm directed to the needs of the domestic market, Penedo soon became known for offering high quality products, mainly jacquards, using the best natural fibers.
As a vertical company from yarn through to finishing, production capacity has grown to 130,000 meters a month, with the 100 employees generating around $17 million in sales a year.
"We will always look at working with new brand names when they become available," said Leite. "And we believe we are always 1-2 years ahead of the competition. As true pioneers and creators in this industry, we are the ones who have the most updated ideas for bedlinen."
Téxteis Penedo is always among the first to experiment with new fibers, Leite said. The company continually trials new yarns, in blends with natural fibers such as linen, wool and silk as well as cotton.
For example, Penedo has been working with Tencel over the past two years and now has 100% Tencel and Tencel-blend bedding products in stores with good market acceptance, particularly in Europe, said Adalberto Castro. The company has also introduced products in flame-retardant Kanecaron and the antimicrobial Amicor.
Castro pointed out that Téxteis Penedo achieved the ISO 9002 certificate in 2000, and the Öeko-Tex environmental award in 1999 for all its products. "The latter is important in the U.S.A. as well as Europe," he commented. Leite added that Penedo's management were comfortable with the company's current position. "But we can not refuse opportunities to grow in conjunction with the success of our customers. Over the past 10 years our turnover has grown steadily and we are now 11 times bigger than we were in 1990. "Our strategy is now to consolidate ourselves as a global company, with the goal of making quality products that are better designed, always fashionable, in natural fibers and with a special care for health and safety and the environment.
"For the future, we will continue to progress, for sure," he said. "We are always ahead in terms of ideas and designs. Our aim is to approach the Italian fashion and quality, but with better pricing."
• Téxteis Penedo SA, Lugar da Boucinha, Mascotelos, 4801-914 Guimarães, Portugal. Tel: +351 253 422300. Fax: +351 253 422399. E-mail: tpenedo.pt Internet: www.tpenedo.pt. Heimtextil: Hall 1.2 Stand B29 (Dreamland); Hall 4.1 Stand E83.
"We have reinforced exports to Asia as well as to countries like Australia and New Zealand, where we have achieved some good orders," he said. "In 2001, we expect Japan to account for 5-10% of sales. The next step will be the opening of the Brazilian market, beginning in the first half of 2001."
Exports to many markets commenced around 10 years ago and now account for more than 95% of turnover. The U.S.A. is the principal market (55% of sales), with the company exporting more than 60% of its output outside Europe. As well as an office on Fifth Avenue in New York City, the company has subsidiaries in Italy and France.
The company, which celebrated its 25th anniversary last year, produces bedspreads, bedlinen, tablelinen, blankets, rugs for the bathroom and bedroom, together with a range of other home textiles including furnishing fabrics and upholstery. Its products are generally geared toward the middle to high end of the market.
Bedspreads currently represent about 40% of sales, followed by bedlinen (20%), tablecloths (20%), with the remainder including curtains, kitchenware and blankets.
Founded in 1975 as a small firm directed to the needs of the domestic market, Penedo soon became known for offering high quality products, mainly jacquards, using the best natural fibers.
As a vertical company from yarn through to finishing, production capacity has grown to 130,000 meters a month, with the 100 employees generating around $17 million in sales a year.
"We will always look at working with new brand names when they become available," said Leite. "And we believe we are always 1-2 years ahead of the competition. As true pioneers and creators in this industry, we are the ones who have the most updated ideas for bedlinen."
Téxteis Penedo is always among the first to experiment with new fibers, Leite said. The company continually trials new yarns, in blends with natural fibers such as linen, wool and silk as well as cotton.
For example, Penedo has been working with Tencel over the past two years and now has 100% Tencel and Tencel-blend bedding products in stores with good market acceptance, particularly in Europe, said Adalberto Castro. The company has also introduced products in flame-retardant Kanecaron and the antimicrobial Amicor.
Castro pointed out that Téxteis Penedo achieved the ISO 9002 certificate in 2000, and the Öeko-Tex environmental award in 1999 for all its products. "The latter is important in the U.S.A. as well as Europe," he commented. Leite added that Penedo's management were comfortable with the company's current position. "But we can not refuse opportunities to grow in conjunction with the success of our customers. Over the past 10 years our turnover has grown steadily and we are now 11 times bigger than we were in 1990. "Our strategy is now to consolidate ourselves as a global company, with the goal of making quality products that are better designed, always fashionable, in natural fibers and with a special care for health and safety and the environment.
"For the future, we will continue to progress, for sure," he said. "We are always ahead in terms of ideas and designs. Our aim is to approach the Italian fashion and quality, but with better pricing."
• Téxteis Penedo SA, Lugar da Boucinha, Mascotelos, 4801-914 Guimarães, Portugal. Tel: +351 253 422300. Fax: +351 253 422399. E-mail: tpenedo.pt Internet: www.tpenedo.pt. Heimtextil: Hall 1.2 Stand B29 (Dreamland); Hall 4.1 Stand E83.
