RICHMOND - The Virginia Economic Development Partnership (VEDP) today announced the acceptance of a Galax company, Vaughan Furniture Company, into its two-year Virginia Leaders in Export Trade (VALET) program. Launched in January 2002, the program assists exporters in the Commonwealth that have firmly established domestic operations and are committed to international exporting as an expansion strategy.
Vaughan Furniture Company joins the program as part of the 15th class of VALET companies. To participate, each eligible business must meet several quantitative criteria and complete an application process. Participating firms are chosen based on their dedication to growth through export. Currently, more than 100 Virginia companies have been accepted to participate in the VALET program.
Founded in 1923, Vaughan Furniture Company designs and sells furniture to the residential furniture industry. The company product line is value oriented and offers medium priced furniture for the bedroom and dining room, as well as occasional tables and entertainment centers. Vaughan maintains a current dealer base of approximately 3,000 furniture dealers and markets their products through retail furniture stores varying in size from single store operations to nationally recognized chains. Vaughan Furniture is headquartered in Galax, Virginia.
“We feel one of the best ways to increase our top line sales are through expansion of our international sales,” said Taylor Vaughan, President/CEO/COB. “In 2008, our company completed the VEDP sponsored export development program known as AIM (Accessing International Markets). Through AIM, we have been able to identify additional potential international markets, and have first-hand knowledge of the benefits of working in conjunction with VEDP sponsored programs. We feel the VALET program is the logical next step for Vaughan Furniture Company, as we continue to develop our global relationships and realize our international sales potential.”
The VALET program incorporates services from a team of experienced international service providers who assist the VALET companies with their international goals. Service providers such as attorneys, Web designers, bankers, translators and freight-forwarders contribute essential skills for expansion into international markets.
“VALET welcomes Vaughan Furniture Company into the program,” said Leslie Parpart, VALET Program Manager. “We look forward to working with its international team over the course of the next two years to assist the company in exceeding export goals.”
The Virginia Economic Development Partnership's Division of International Trade earned the coveted President's "E Star" Award for Export Service. The President's "E Star" Award was created in 1969 to recognize continued superior performance in increasing or promoting exports. Only previous recipients of the "E" Award are eligible, and the period of consideration covers the most recent three years of export operation. During the 2005-2007 period of consideration, VEDP's International Trade Division assisted more than 100 Virginia companies through its export development programs, Accessing International Markets (AIM) and Virginia Leaders in Export Trade (VALET).
NASBITE International, a multi-national professional trade organization, awarded its 2007 Program Excellence Award to the VEDP Division of International Trade’s VALET program. The Program Excellence Award is given to recognize innovation and originality in international trade education, counseling, training and research. The VALET program stood out because of its successful pairing of resources, state funding and private-sector support to promote and expand international sales for Virginia companies.
The Virginia Economic Development Partnership, a marketing organization, was created by the Virginia General Assembly in 1995 to encourage, stimulate, and support the development and expansion of the economy of the Commonwealth. The Partnership is a state authority, which is governed by a 21-member Board of Directors appointed by the Governor and the Virginia General Assembly. To accomplish its objectives of promoting economic expansion within the Commonwealth, the Partnership focuses its efforts on business recruitment, expansion and international trade. VEDP has offices in Virginia, Belgium, Hong Kong, Mexico and Japan.
To learn more about the VALET program, contact Leslie Parpart, VALET Program Manager, at LParpart [at] YesVirginia.org or visit the programs tab at www.ExportVirginia.org.