As Manufacturers Buckle, Winners Emerge From Havoc

在经济一片惨淡之际，Craftmaster Furniture Inc.仍卖出了比以前更多的沙发和双人椅，公司首席执行长Roy Calcagne对个中原因的解释非常简单。他说，我们悄悄地偷走了市场份额。Craftmaster主要生产软垫家具，在北卡罗来纳州拥有两家大型工厂。Tim Aeppel/The Wall Street JournalCraftmaster Furniture的首席执行长Roy CalcagneCraftmaster所经历的正是经济中无处不在的适者生存竞争原理的生动写照。这场衰退已经让一些大型零售商倒闭──其中包括1月份宣布破产的Circuit City Stores Inc.，令从汽车零件到防风窗在内的各种产品的制造商关门大吉。当一些企业熄火时，常常会有像Craftmaster这样的其它公司在旁觊觎，随时准备攫取一些好处。许多公司不愿公开谈论竞争对手的消亡。但在时世艰难的时候，从倒下的竞争对手手中夺取业务是为数不多的增长途径之一（或至少是将自己公司的销售额下滑减到最小的一种方式），这是个严酷的现实。Craftmaster的主营业务是组装软体沙发和座椅，并出售给商店，价格在1,000美元以下。该公司公布的数据显示，其去年的销售收入增长了4%，自今年1月以来销售收入增长了5%。这样的增长幅度似乎并不大，但考虑到整个行业的状况，这已经很突出了。总规模800亿美元的美国家具市场与房市密切相关，分析师们说，过去6个月家具市场销售额估计下降了20%。与此同时，Craftmaster去年新增了75名雇员，其中一些人来自附近行将倒闭的工厂。Craftmaster的两家工厂目前还没有裁员的消息，这两家工厂现有大约500名员工。这家公司隶属位于中国东莞的顺诚控股有限公司(Samson Holding Ltd.)旗下，其在行业中获得领先地位应归功于某些内在的优势，以及具有远见的战略。2003年，顺诚雇请时年50岁的Calcagne设计一个出口计划。Calcagne最初是梅西百货(Macy's)的采购员。当时顺诚已经在中国拥有庞大的工厂，生产面向海外市场的餐桌和卧室家具，90%的出口产品销往美国。但顺诚的管理人员急切地想进入利润丰厚的软体家具领域，这一领域很难把握，因为体积庞大的沙发会带来生产发货和库存等方面各种各样的问题。Calcagne的老板最终让他去找一家现成的美国家具生产商，利用中国这边的业务为其供应纺织面料以及部分木质框架和一些部件。这些原料会被运回美国，在北卡罗来纳州组装。当时Craftsman的老板正准备退休，打算将公司卖掉。顺诚于2006年收购了这家公司，从而获得了离美国客户很近的生产设备。过去五年中，美国国内生产用于软体家具的纺织品的工厂大多都已经关门，许多这类业务转到了中国。这样一来，现在许多美国家具厂商都从中国购买大量纺织品。在可能的情况下，这些厂商会让中国供应商将纺织品预先剪裁并缝制后发送“成套”织物。Craftmaster也将大部分这类工作外包出去，但由于它与顺诚的关系，它可以对供应链进行严格的管理。位于弗吉尼亚州里士满的行业分析公司Mann, Armistead & Epperson的行业分析师艾伯森(Jerry Epperson)说，他们真算得上两全其美。Tim Aeppel/The Wall Street JournalCraftmaster Furniture的家具厂在Taylorsville，长桌旁的工人把织物铺开，裁剪成制作沙发或椅子所需的布片。然后这些布片被运到另外一个区域，那里的工人会把布片缝制成形。Craftmaster有大约40名缝纫工，时薪为13-15美元。（Calcagne估计，中国类似的工作时薪为1美元甚至更少。）厂子里的其他工人则用海绵填塞衬垫，并将织物钉到沙发或椅子的框架上。对Calcagne来说，最近几个月更多的是在对手倒闭时拿起电话，而不是从其他人那里挖业务。以Norwalk Furniture Corp.为例。去年年中，他听到风声说面料厂停止向这家公司发货了。他准确地猜到这家有106年历史的俄亥俄公司有麻烦了。他说，一旦面料厂开始停止发货，接下来会发生的就是不可避免的了。去年秋季，当Norwalk申请破产并停止运营时，Calcagne果断出击。他立刻聘用了Norwalk的销售副总裁，此人又把Norwalk的5位地区销售管理人士介绍给了Calcagne。他也聘用了这几个人。Norwalk在俄亥俄的工厂去年秋季得到了一些当地投资者的投资，得以重新开张。他们重新开始生产，但产量比以前低得多，只生产定制的软体家具。但在那个时候，他们的大部分客户都已经转投Craftmaster和其他公司了。Norwalk新投资者团队的发言人Tom Bleile说，对于从老公司停业到新公司开张之间这段时间所失去的机会，我们当然很痛心，但对于将这段时间视为扩张良机的其他公司，我们也不会见怪。Craftmaster目前即将成为Madison Inc.旗下American TV & Appliance的主要供应商。American TV & Appliance是美国中西部地区北部的零售连锁店，拥有15家分店，以前曾出售Norwalk旗下的Hickory Hill品牌家具。这家客户曾经由Norwalk驻威斯康星州的销售人员负责，那位销售人员现在在Calcagne手下。American TV的资深副总裁瓦格纳(Ken Wagner)说，Craftmaster实际上是获得了三家不同的供货商的业务，这三家供货商在过去几个月内都与我们断了业务联系。Craftmaster与中国的关系只能在某种程度上保护它。经济放缓也给中国造成了沉重打击，顺诚的总销售额随着其他市场的萎缩而出现下滑。顺诚最新的收益报表显示，去年上半年销售额下降了9%，至2.17亿美元。顺诚没有公布按区域划分的业绩。仍有许多零售商将Craftmaster隶属中国公司的事实视为拥有强劲财力的标志。拥有12家分店的家具连销店Levin Furniture的商品推广副总裁Christopher Pelcher说，我们对Craftmaster的财务状况很有信心，认为他们属于一家实力雄厚的公司，这对他们没什么坏处。Pelcher指出，最近许多家具公司倒闭，这种情况令家具零售商陷入困境，他的公司就受到了影响。以Norwalk为例，这家公司倒闭时，Levin已经接下了40多个定制沙发的定单。Pelcher说，一些客户知道自己要的沙发不能到货后就去别家买了。他急忙寻找后备供货商，其中也包括Craftmaster这类已经是供货商的公司。对于Calcagne来说，开拓业务是每天都要进行的战斗，有时战况会比别的时候激烈。Craftmaster开拓新客户有其局限。在现有的中等价位家具领域之外实现扩张对Craftmaster来说是一大挑战。Timothy Aeppel 本文涉及股票或公司document.write (truthmeter('2009年04月09日11:30', '0531.HK'));顺诚控股有限公司英文名称：Samson Holding Ltd.总部地点：中国大陆上市地点：香港交易所股票代码：0531

Roy Calcagne offers a simple explanation for why, in the midst of a grueling downturn, his company is selling more sofas and love seats than before.'We're stealing market share,' says the chief executive of Craftmaster Furniture Inc., a maker of upholstered pieces with two large factories here.What's happening at Craftmaster is just one example of the survival-of-the-fittest competition taking place across the economy. The recession has already killed off some major retailers, including Circuit City Stores Inc. in January, and prompted the shutdown of manufacturers known for everything from auto parts to storm windows.When businesses flame out, there are often others on the sidelines, like Craftmaster, ready to pick up the pieces. Most companies don't like to openly discuss the demise of competitors. But in hard times, the grim reality is that grabbing business from fallen players is one of the few avenues to growth -- or at least a way to minimize a company's own sales slide.At Craftmaster, which assembles upholstered sofas and chairs that sell in stores for less than $1,000, revenues rose 4% last year and have grown 5% since January, according to the company. That might seem like a modest increase, but given the state of the industry, it's remarkable. Sales in the $80 billion U.S. furniture market, which is closely linked to housing, were off by an estimated 20% over the past six months, say analysts.Craftmaster, meanwhile, hired 75 people last year, including some from nearby factories that were closing. There's currently no talk of layoffs at its two facilities, which now employ roughly 500.The company, owned by Dongguan, China-based Samson Holding Ltd., has managed to pull ahead due to some built-in benefits -- as well as a few prescient strategies. In 2003, Samson hired Mr. Calcagne, a 50-year-old who got his start as a buyer for Macy's, to devise an export plan. Samson already had huge Chinese factories churning out dining and bedroom sets for foreign markets, especially the U.S., which accounts for 90% of its exports. But executives were anxious to tap the lucrative upholstery niche -- a segment difficult to tackle, since bulky sofas present all manner of manufacturing, shipping and inventory issues.Mr. Calcagne's boss eventually asked him to find an existing U.S. furniture maker and use the Chinese operation to supply it with fabric as well as some of its wooden frames and other parts. These would be shipped back to the U.S. and assembled in North Carolina.With its owner ready to retire, Craftsman was up for sale. Samson purchased the company in 2006, instantly giving it production facilities close to U.S. customers.Most domestic mills that produce fabric for upholstered furniture have closed over the past five years, with much of that business shifting to China. As a result, many U.S. furniture plants now buy giant rolls of fabric from China. When possible, they have Chinese suppliers send 'kits' of fabric that have been pre-cut and sewn. Craftmaster has outsourced much of this work as well, but is able to manage the supply chain closely because of its affiliation with Samson.'They really have the best of both worlds,' says Jerry Epperson, an industry analyst with Mann, Armistead & Epperson in Richmond, Va.- -Copyright (c) 2009 Dow Jones & Company, Inc.

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As Manufacturers Buckle, Winners Emerge From Havoc

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