for House of Tai Ping Customers
We have exciting news to share about Tai Ping’s Artisan business, which focuses on the hand-made, customized, bespoke products that are sold through our Tai Ping, Edward Fields, and La Manufacture Cogolin brands. In recognition of the enormous potential we’re seeing in this division, we are investing in a number of new initiatives that will enable us to better service our customers and employees.
One of the key investments we are making is in the development of our new 21st century, state-of-the-art facility in Xiamen, an international resort destination located on the southeast coast of China.
This new facility is the centerpiece of the Artisan business, designed to celebrate the craftsmanship that allowed us to become the premier luxury manufacturer of hand-made carpets in 1956. We have invested approximately US$30 million to construct a facility that is technologically advanced, environmentally sustainable and socially responsible.
This new facility will equip and support our artisan workers long into the future and will also serve as the headquarters for all major manufacturing, research and development, and marketing initiatives. As we grow in this space, we will implement new processes to increase efficiency and allow for a quicker response to our customers’ needs. You can expect enhancements to our design collections, including increased customization options and new product launches in growing sectors.
In August we also announced our decision to sell our Commercial business to Thailand Carpet Manufacturing Public Company Limited (TCMC). This will enable us to refocus on our craftsman roots, and to continue strategic investment and development of our core Artisan business.
Our partnership with our loyal customers is a critical part of Tai Ping’s success, and we want to thank you again for joining us as we’ve grown and expanded this business. We are excited to embark on this new chapter, and we are eager to continue delivering the high-quality craftsmanship you’ve come to expect from Tai Ping.
James Kaplan, CEO