Pho Xinh Furniture Supermarket has defined its own direction to survive and develop in the time of global economic crisis. Mr Duong Quoc Nam, Director of Pho Xinh, was bestowed Outstanding Saigon Businessman Award 2009 for his leadership to lead the company to surmount all difficulties to achieve the glorious success.
I was born in Saigon, currently Ho Chi Minh City, in a carpentry family. When I was a child, I was very keen on carpentry. I was enchanted with patterns and shapes of wooden furniture. Time flied. I learnt much of carpentry and business from my parent. In 1999, I graduated from the Business Administration School with a burning dream of “developing my inherited wooden furniture into a leading trademark in Vietnam,” said Duong Quoc Nam.
In 2000, from Phuong Nam Interior Furniture Shop, he officially established Hoang Nam Production, Trading and Service Co., Ltd and opened Pho Xinh Furniture Supermarket at No. 8 Road 3/2, District 10, Ho Chi Minh City on an area of 15,000 m2.
Make what they need
“In fact, when I opened one of the largest furniture in Ho Chi Minh City, I felt quite nervous. The investment for operations and human resources was too big. Most visitors only came to view, not to buy. My parents only produced with orders at hand and they felt unconfident in the new business style,” Nam recalled. “But, I did not way to follow my old way of my parents because I wanted to make bigger thing. Displayed interior furniture designs had to be diversified, the showroom needed to be spacious enough and eye-catching.” Also, Pho Xinh’s product criteria are easy-to-use, durable, elegant and unique but still fitting every Vietnamese house.
To build these criteria, Mr Duong Quoc Nam invested in designing and even inviting experts from Italy, Singapore and China - world’s leading furniture designers - to consult, train works and take on new technologies. He also invested in advanced machines. Since then, Pho Xinh's products have their own identities. Mr Duong Quoc Nam said the furniture business is complicated and artful as each customer has his/her tastes. Expensive furniture does not always mean “beauty” but the most important role of a furniture seller is to know how to advise clients.
Therefore, manufacturers must know how to adapt to new requests and complete them. With a few manipulations, products may look different. It is also the same for dealing with foreign markets. It is very hard to penetrate a foreign market but it is harder to keep customers.
Foreign customers are very choosy. They like our goods but they deliberately compare with products from other countries. What’s more, to be successful in a foreign market, we must conduct market researches and cultural identities of such market. For example, Middle East countries like carving patterns and colour. Customers in European are very interested in carving while Japanese customers are fond of simple designs and colours. In the current trend, customers like simple, modern, multifunctional and easy-to-use design. Therefore, the world furniture industry annually holds at least one seminar to introduce new interior designs. There, manufacturer can order exclusive designs. Pho Xinh annually spends hundreds of thousands of dollars to buy the copyright designs.
Expanding market
After the chain of success, Pho Xinh Furniture Supermarket in HCM City and some southern provinces went north in late 2006 and opened the first northern centre at Me Linh Plaza Trade Centre. According to Mr. Duong Quoc Nam, after a long period of surveys, the company knew that the northerners are demanding but easy to be conquered if they are offered their interested items as they know the value of products very clearly. So, I expected Pho Xinh Furniture will have a firm foothold not only in Hanoi but also surrounding localities.
With endless effort in the past 10 years, Pho Xinh has operated 11 interior supermarkets in HCM City and Hanoi. Particularly, the Pho Xinh Furniture Supermarket at No. 2 Cao Thang Street, Ward 12, District 10, Ho Chi Minh City is one of the biggest furniture showrooms in the city and the Pho Xinh Furniture Supermarket at No. 1 Pham Hung Road, Hanoi City is considered the largest furniture shop in Vietnam. Pho Xinh's products are not only for domestic consumption but are also exported to the US, 25 EU member countries and Asia.
Mr Duong Quoc Nam, said: The Vietnamese furniture is increasingly appreciated on international markets and the price is increasingly competitive. Currently, European countries started to trust Vietnamese goods, including furniture. Therefore, furniture also needs careful examination for insects, termites and additives. Another problem is how to create a friendly brand name. When I do not have to go on business or sign contracts, I usually visit my supermarkets to thank customers for their supports as I know that customer care is crucially important.
P.N
Vietnamese
