PETALING JAYA: Top-Line Furniture Corporation, a furniture importer and wholesale distributor based in Chicago, Illinois in the US, has expressed its intention to increase its imports from Malaysia to RM230 million annually over the next few years.
In a statement today, Top-Line said it has been sourcing home furniture from Malaysia since 2000, with total imports amounting to about RM840 million to date.
Top-Line has fostered strong partnerships with some of the industry’s biggest players, including Wayfair.com, Bed Bath and Beyond, Overstock.com, Walmart.com, Target.com and Home Depot. It currently operates three distribution locations across the US spanning multiple channels, including wholesalers, online retailers and direct-to-consumer platforms. The company is among major US importers that have been importing from Malaysia for many years.
Top-Line made the pledge during a one-to-one business meeting with Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Aziz and ministry officials arranged by Malaysia External Trade Development Corporation in New York City.
Imports from Malaysia will grow in tandem with Top-Line’s expansion plan. New product sourcing from Malaysia will create an opportunity for the company to import RM230 million yearly of Malaysian-made furniture in the next few years.
The increase in sourcing will not only benefit furniture manufacturers but also supply chain players among micro, small and medium enterprises such as suppliers of components and parts (bolts and nuts), which leads to an increase in employment too.
The US Furniture Market Report 2022 stated that the US furniture market is expected to reach a value of US$288.9 billion (RM1.35 trillion) by 2026, with a compound annual growth rate of 4.47% from 2022 to 2026.
Malaysia exported RM13.86 billion of furniture globally in 2022, with the US being its top export destination at RM7.24 billion or 52.2% of the nation’s total furniture exports last year. Malaysia was the US’ sixth largest source of imported furniture in 2022, accounting for 2.78% of its total furniture and bedding import value.