That's ok though! :) Today was a fun and exciting day for us at the US Commercial Service.
When I got in I found out a 'new' company had contacted us. I use quotes because they are not new in the sense of being a new company, but today was the first day I have heard about them. The company in question is called Gemstone Tile, LLC. They are based out of Kingman, Arizona and make handcrafted turquoise tile for home decor. They mine the turquoise from the Kingman mine. Which surprisingly is the last commercial turquoise mine in North America. Something I had no idea about! That being said they do beautiful work! I highly suggest everyone checking them out! Especially if you are looking for a beautiful, cool alternative to tile work.
So back to what they were looking for. Gemstone Tile contacted us, for the same reasons most companies do. They are looking to expand their company exports. Currently, they export to the United Kingdom, Dubai, and Bahrain. Their email stated that they are looking to export to China. My job was to begin compiling market research on the Chinese luxury market, as well as a list of the top countries the United States and the state of Arizona export gemstones, stone, natural tiles, and there mineral based tile. When we look up the trade statistics for the country and state exports based off whatever the product of the company is I am always so surprised to see who the top countries might be. We have various ways of displaying the data in terms on units exported, weight, size, or monetary value. We usually compile the data and convert it to US dollar amounts to show our clients just how much the US and state export. It is always more then one thinks!
While conducting my research I found out that Chinese consumers spend more on luxury goods than any other country. AND by 2015 they will account for 20% or $27 billion of the global luxury sales! This goes for everything from designer clothes to private planes and yachts! Needless to say I feel that Gemstone Tile is making a smart move wanting to export to China seeing as how their prices start at $645 per square foot and go as high as $2000 per square foot! Which is by far one of the most expensive tile companies in the world.
Today, we spoke with Gemstone Tile and they informed us that they will be attending the Luxury China trade show in Beijing. This is Luxury China's third year of having the trade show. They will have over 300 companies from twenty countries showcasing their high-end goods and services. While assisting them with the proper ways of starting business with the Chinese, we were able to inform them of a huge project the US Commercial Service here in Arizona is working on. Beyond the Border: Arizona Trade Mission to Mexico City and Guadalajara is set for May 2014 and will give Arizona companies the opportunity to meet customers, buyers, distributors, and local business leaders who would be interested in buying and carrying their products. Mexico City is one of the top cities in the world for millionaires and billionaires. Gemstone Tile, was thrilled to here this and signed up on the stop! Which was something none of us thought they would do. So we were all very excited about that.
It all sounds a bit silly when I re-read this, but I find it exciting that I get to be apart of helping local companies expand their business.Which is not only goo for them, but USA as a whole. It helps stimulate the local economy, United States economy, creates jobs, and build better relationships with other countries with trade. I am looking forward to our continued relationship with Gemstone Tile and whatever new Arizona companies looking to expand into the global market.
Fun Fact: Turquoise is the official gemstone of the state of Arizona!
Cheers!
-S
Hello Shane,
ReplyDeleteI enjoyed reading your posts regarding your internship experience so far with the International Trade Administration. This sounds like a very exciting and rewarding internship experience, and from what you have told us it sounds like you have been very busy as well. After reading your blog about the new company that contacted your office, Gemstone Tile, I was able to get a better sense of your responsibilities at your internship. From what I read, it appears that you are involved with a lot of research and data analysis. While this may not sound appealing to others, I know that this is a very crucial part of the International Trade Administration and for US commerce as well. Overall, it was interesting to read about a day in the life of your internship, and I am glad that you are having a great time working there!
Wow that's interesting I never knew that China was the leading consumer of luxury goods. Interesting! It's great that you have such a hands on role helping to expand a firm beginning with the market research you perform!
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