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Hangzhou Fortunate Co. Ltd

Established in 2001, Hangzhou Fortunate specializes in bedding, drapery and table linen. It will continue to expand its range of home textiles in coming months.

The company's total sales reached US$5 million in 2004, with about US$2 million worth exported to the EU and the US.

About 80 percent of its exports are on an OEM basis. Customers include Target and J.C. Penney in the US.

Hangzhou Fortunate will maintain prices even as material costs are rising. The company upgraded worker salaries and improved their working and living facilities.

Products
Hangzhou Fortunate focuses on midrange and high-end home textiles made of polyester, 100 percent cotton, polyester/cotton and synthetic fabric. It expects wrinkle-free home textiles to be among the hottest items.

Cotton is purchased from Shandong province, and polyester is procured from suppliers in Zhejiang province or South Korea.

Prices of linen and drapery depend on the type of material and thread count, size and decorative features. Design also affects the price. Low-end and midrange curtains, which are made of polyester, are priced at US$5 to US$12 per piece. High-end drapery made of chenille sells for more than US$12.

A bed linen set, which usually consists of a quilt cover, two pillowcases and a bedsheet, is priced at US$12 to US$30, depending on style, in addition to fabric and thread count.

Tablecloths come in oblong, oval, square and round versions. The smallest one measures 60x80 inches, and the widest is 60x144 inches. Price is US$2 to US$5 each.

Six R&D members release 500 new products annually, and produce samples based on customers' designs. About 80 percent of design work is done by computer, while the rest is done on paper.

And more... To see the full Hangzhou Fortunate Co. Ltd profile and 14 other in-depth profiles order now.

 
Company Facts  
Year established 2001
Head office location Hangzhou (Zhejiang)
Business type Manufacturer
direct exporter
Ownership Mainland China-owned
Factory location(s) Hangzhou (Zhejiang)
Total factory area 5,000sqm
Full-time employees 200
Total annual sales (all products) US$5.0mn
Annual R&D spending US$0.06mn
R&D % of sales 1.2%
ISO certified No

 

Sales & output: Home textiles  
Annual sales US$5.0mn
Share of total sales 100%
Annual export sales US$2.0mn
Total monthly capacity 200,000 pieces
Average monthly output 150,000 pieces
Capacity utilized 75%
Average monthly exports 120,000 pieces
Export ratio 80%
OEM/ODM % of exports 80%
Major OEM/ODM customers Target, J.C. Penney, Kohl's (US)
 
 
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Home Textiles

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In the first five months of 2005, home textile exports from China soared nearly 40% from the previous year, to reach US$2.2 billion.

Although the US and EU have initiated safeguards designed to limit exports, most China suppliers are increasing production in anticipation of further dramatic growth.

How can you source most effectively in this volatile environment? Which product areas offer the best opportunities? What trends will dominate the market tomorrow?

Find out in this new report. With a comprehensive industry overview, profiles of scores of suppliers and much more, it ensures you'll stay ahead of your competition.



 
  Suppliers: 90 Products: 225 Pages: 136 Published: Aug 05 Price: US$445

All information contained in China Sourcing Reports is the result of original, independent and impartial research conducted by Global Sources analysts.    Apparel Search is working in association with Global Sources to help promote this sourcing report to the international fashion community.  If you have questions about the report or status of your orders, please e-mail Xue Mei for further assistance.

The home textiles report has been developed and maintained by Global Sources.  Apparel Search is working in association with Global Sources to help promote this sourcing report to the international fashion community.

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