The objective is establishing Source of Asia (SOA) partner’s official Buying Office. Our mission is to leverage our client’s expertise in the Vietnamese market to facilitate their growth and development within the region.
Project Background:
Our partner – the Danish home décor and modern furniture wholesaler, is a renowned Nordic/Scandinavian furniture and home decoration brand in 2000. The organization has achieved success through its distinct styles and unique offerings. With an aim to capitalize on the market potential in Vietnam, they have chosen to partner with Source of Asia as their official Buying Office in the country since 2018.
Solutions:
SOA has been effectively collaborating with the Danish home décor and modern furniture wholesaler and contributed to their expansion in Vietnam, offering the following solutions:
- Market Research: our team conducted in-depth market research to showcase the potential of the Vietnamese market for their furniture, home decoration, lighting, and pottery products. This laid the foundation for the subsequent partnership.
- Trading Expertise: After successfully proving the market potential through trading activities and annual approaches, Source of Asia established itself as its official Buying Office in Vietnam. This allowed for streamlined procurement and efficient supply chain management.
- Continued Collaboration: Our team has actively worked with them to develop each seasonal collection tailored to the Vietnamese market’s preferences, ensuring that the offerings are aligned with local tastes.
- Financial Performance: Through the dedicated efforts of SOA, the partnership has yielded remarkable results. This financial success underscores the effective collaboration between the client and SOA.
Results:
The collaboration between SOA and the Danish home décor and modern furniture wholesaler has been highly fruitful, evidenced by the following achievements:
- They have maintained a strong presence in Vietnam for over 5 years, establishing a reliable and successful partnership with SOA.
- The development of more than 10 collections.
- The annual turnover of US$ 3 million showcases the substantial business growth and financial success that the partnership has facilitated.
With SOA’s expertise and their unique products, the brand has effectively penetrated the Vietnamese market, resonating with customers seeking Nordic/Scandinavian furniture, home decoration, lighting, and pottery.
