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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.

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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)