M'sian SMEs Showcase Capabilities to USA’s Second Largest Home Improvement Retailer
THURSDAY, JULY 23, 2015, KUALA LUMPUR: Malaysia External Trade Development Corporation (MATRADE) had recently organised a programme to introduce Malaysian companies supplying home improvement and products of building materials to USA‟s second largest home improvement retailer, Lowe‟s. The programme comprised a seminar titled Opportunities to Supply to the World’s Major Home Improvement Retailer, Lowe’s (USA) and one-on-one business meetings held on 7 and 8 July 2015 at Menara MATRADE in Kuala Lumpur.
The business meetings concluded with almost RM100 million of potential sales generated. This business matching involved 20 Malaysian companies.
MATRADE‟s Chief Executive Officer Dato‟ Dzulkifli Mahmud remarked that this event was part of MATRADE‟s „Large Corp Programme‟ aimed at providing opportunities for Malaysian exporters especially the SMEs to be part of Lowe‟s global supply chain. At the event, Dato‟ Dzulkifli urged Lowe‟s to source more from Malaysia as Malaysian exporters have the ability to offer them products of the highest quality and competitively priced.
With 1,750 stores, Lowe‟s operates across the USA, Canada and Mexico. During the event, the brand has expressed their interest in products namely wooden door, sawn timber, plywood, furniture, cellulose reinforced fibre cement, printed circuit board, wire harness assembly, electric cables, kitchenware & stainless steel, steel products, LED lighting, ceramic pottery, plaster ceiling and roofing as well as window, awning & decorative products.
Lowe‟s Sourcing Development Director Ms Tammy Edson said, “We are happy to collaborate with MATRADE in getting more Malaysian companies to supply to Lowe‟s stores. It is our third time here and the fact that we are back here shows that we believe in Malaysian products.” Lowe‟s sourcing mission is timely and is part of the brand‟s diversification effort away from its traditional sources.
There is reportedly a stronger demand in the USA for construction and building materials as well as for home improvement products following the recent recovery of the US‟ economy, which resulted in the revitalisation of US‟ property market.
Malaysia‟s exports to the USA in 2014 recorded a double digit growth of 6.8% to USD19.68 billion, while imports decreased by 0.5% to USD15.99 billion resulting in a total trade of USD35.67 billion.
