As per the Vietnam Timber and Forest Product Association, there has been a substantial increase in the demand for furniture products within the local market in recent times. For manufacturing businesses, focusing on developing the domestic market emerges as a viable strategy to diversify their production and mitigate risks associated with heavy reliance on exports. This becomes particularly crucial in the current circumstances where numerous factories are compelled to scale down their operations or close down due to challenges faced by most export markets, such as conflicts, pandemics, and inflation.
Top 1. WANEK FURNITURE LIMITED LIABILITY COMPANY
About Wanek Furniture Limited Liability Company:
Wanek Furniture Limited Liability Company, established in 2008, is a prominent entity within the world’s largest furniture manufacturing supply chain, boasting a distribution network spanning over 123 countries.
In the fiscal year 2021, Wanek Furniture recorded a revenue of approximately 13.6 trillion VND, accompanied by a profit after tax exceeding 170 billion VND. Despite being positioned as a leader in the furniture manufacturing sector, the company has faced significant fluctuations in its business performance in recent years.
To illustrate, in 2020, Wanek Furniture experienced a remarkable surge in revenue, reaching 15 trillion VND, marking a 130-fold increase compared to the previous year. However, by 2021, the company’s revenue contracted to just over 13.6 trillion VND.
The profit after tax for this furniture giant also witnessed a consistent decline, decreasing from about 1.9 trillion VND in 2019 to approximately 170 billion VND in 2021. This underscores the business’s fluctuating financial performance over the specified period.
Contact detail:
CEO: Mr. Lien Andrew Michael
Tax code: 3700937241
Address: Tan Long Quarter – Tan Hiep Commune – Tan Uyen District – Binh Duong Province, Vietnam
Telephone: (+84) 650-3655194
Email: N/A
Website: N/A
Facebook: https://www.facebook.com/wanek.tuyendung
Linkedin: https://www.linkedin.com/company/wanek-furniture/
Top 2: NITORI FURNITURE VIETNAM EPE
About Nitori Furniture Vietnam EPE company:
Nitori Furniture Vietnam EPE, a subsidiary of NITORI Co., Ltd. specializing in furniture manufacturing, was founded in 2003 with complete funding from Japan. Nitori operates two factories, situated in Hanoi Industrial Park and Ba Ria Vung Tau.
Over the recent years, Nitori Vietnam has consistently witnessed a favorable growth trajectory in its revenue. Notably, in 2021, the company experienced a remarkable surge, with revenue escalating by 57% compared to the previous year. Consequently, its total revenue reached almost VND7 trillion, yielding an after-tax profit of nearly VND490 billion.
Contact detail:
CEO: Mr. Shigehito Matsukuratsuyoshi Okamura
Tax code: 0313596856
Address: Office Building No. 194 Golden Building, 473 Dien Bien Phu, Ward 25, Binh Thanh District, Ho Chi Minh City, Vietnam
Telephone: (+84) 650-3655194
Email: [email protected]
Website: https://www.nitori.com.vn/
Facebook: https://www.facebook.com/nitori.vn/
Linkedin: https://www.linkedin.com/company/nitorifurniturevietnamepe/
Top 3. GLORY OCEANIC COMPANY LIMITED (VIETNAM)
About Glory Oceanic Company Limited (Vietnam):
Glory Oceanic (Vietnam) Co., Ltd. is a part of the Yangchen Wood Industry (Furniture) Group China. Established in June 2019, it is situated in Binh Duong province, Vietnam, known for its advantageous location for production and export due to a dense population and abundant labor resources.
Recent reports indicate a consistent growth in the revenue of this furniture manufacturing company. Specifically, in 2021, the revenue amounted to nearly 3.4 trillion VND, reflecting a 43% increase compared to the preceding year.
Despite the positive trend in revenue, the after-tax profit for Glory Oceanic (Vietnam) has persistently remained in the negative territory since 2019.
Contact detail:
CEO: Mr. Wu, Weichen
Tax code: 3700663086
Address: Land plot number 370, Sheet map number 18, Quarter 1, Hoi Nghia Ward, Tan Uyen Town, Binh Duong Province, Vietnam
Telephone: (+84) 650-3655194
Email: [email protected]
Website: https://gloryoceanicfurniture.com/
Facebook: N/A
Linkedin: N/A
Top 4. AN CUONG WOOD JOINT STOCK COMPANY
About An Cuong Wood Joint Stock company:
An Cuong Wood Joint Stock Company, operating in the industrial wood sector in Vietnam and the surrounding region since 1994, is a manufacturer offering materials, solutions, and furniture. The company currently serves as a manufacturer and exporter for renowned furniture brands in Japan, Southeast Asia, America, and Europe.
In the year 2021, the company remained dedicated to its core business of manufacturing and trading materials, solutions, and furniture made from industrial wood. There was a noticeable emphasis on increasing the proportion of revenue.
Despite experiencing a year full of fluctuations, the company’s revenue for 2021 amounted to approximately 3.3 trillion VND, representing a 12% decrease compared to the previous year. However, through proactive cost-cutting measures and a focus on orders with favorable profit margins, the group managed to achieve an after-tax profit of about 451 billion VND, showing only an 8% decline from the figures in 2020.
Contact detail:
CEO: Mr. Lê Đức Nghĩa
Tax code: 3700748131
Address: Land plot 681, Map sheet 05, Road DT 747B, Phuoc Hai Quarter, Thai Hoa Ward, Tan Uyen Town, Binh Duong Province, Vietnam
Telephone: (+84) 274 3626282 / 3626283
Fax: 0274-3626284
Email: [email protected]
Website: http://ancuong.com/
Facebook: https://www.facebook.com/ancuongcompany/
Linkedin: https://www.linkedin.com/company/an-cuong-group/
Top 5. Shing Mark Vina Company Limited
About Shing Mark Vina Company Limited:
Shing Mark Vina Co., Ltd. is a company that specializes in the manufacturing and processing of interior decoration products, panels, and household appliances made from officially imported wood materials and legal timber sources.
In the year 2020, this foreign enterprise experienced significant success, with revenue reaching approximately 3 trillion VND. This marks a remarkable tenfold increase compared to the figures from 2019. Additionally, the profit after tax also witnessed a twofold increase compared to the preceding year.
Contact detail:
CEO: Mr. Chao, Chung-Lee
Tax code: 3600676042
Address: Bau Xeo Industrial Park, Doi 61 Commune, Trang Bom District, Dong Nai Province, Vietnam
Telephone: (+84) 2513675085
Email: [email protected]
Website: N/A
Facebook: https://www.facebook.com/hongxuonglong.0313/
Linkedin: N/A
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