CAPACITY: LUXMY FURNITURE
Bottom left: Joinery and workstation production at Luxmy Furniture. Bottom right: Drilling and joinery detailing.
often lacking in the furniture manufacturing industry. “I think there’s a lack of an entrepreneurial thought process in Australian furniture manufacturing,” says Priyanka. “Most people don’t invest in business strategy to assess where new channels can be developed. Many people come up through the trade with a service mentality. When orders drop off and they hit trouble, in some of the worst cases, they just shut up shop.” “My father and I both took the time to acquire MBAs so that we were trained to apply an entrepreneurial process. When we hit trouble, we find solutions. A couple of years ago, we saw the downturn coming – seeing that we were heading into some difficult years we started marketing ourselves a lot more. So that when we got to the point of difficulty, we were ready for it.” The last two years have been especially tough for the furniture industry, with
We’re investing now to diversify our markets so that we’re not caught out relying on one market alone. This diversification is designed to enable our longevity and fuel the next phase of growth.
Spring Issue 2013
government spending grinding to a halt, major projects being delayed, which has a follow-on effect for furniture production. Coupled with a skyrocketing Australia dollar, it’s been the perfect storm that has caused the demise of many manufacturers. In response to this harsh climate, keeping visible is how the company stayed in business. “It is possible to make money in this market,” says Priyanka. “Our factory is constantly churning. You’ve got to try to invest in good design and technology and take risks in this environment. We get noticed because we’re constantly doing things. It’s irrelevant whether they work or not because we make ourselves known and we continue to get work. If you stop marketing yourself, eventually people will forget that you’re there.” luxmyfurniture.com.au