Buying IKEA furniture is often a sign of having enough money to be reasonably tasteful, but not having the time to develop your own taste, nor having the money to simply buy exquisite taste. Supplying IKEA, however, is a sign of an up-and-coming supplier of the modular, and today’s trading numbers reflect that.
Pun intended, NOVA (OTC: STVS) is building a future for itself. Their name itself, and their products, are not unlike the PBS show of the same name. Something classy, yet cheap. The latter owing to viewer funding, the former is what viewers think of themselves. NOVA furniture, however, is like most things made at IKEA and PBS, functional, middle-class affordable, well made, and comes with a bit of free guilt. With PBS, that guilt comes with a tote bag following a $25 donation; IKEA? the guilt is assuaged with meatballs.
In addition to signing last month’s contract with IKEA, NOVA has reached an agreement with Conforama, one of Europe’s largest home furnishing retailers. While the initial agreement is simply for 16,000 pieces, 4,000 to be delivered prior to August 1st of this year, the upside potential is enormous. The upside in France alone is staggering.
With the newly elected President, Francois Hollande, people will have more money if working for minimum wage, more time if approaching a mandatory retirement age of 60, and less money partnered with higher taxes to hold on to their familial estates and all those pesky family heirlooms and antiques. Enter NOVA and Conforama.
The only question is, does the the Confor stand for Comfort or Conformity. Hell, that’s easy one, only one has an “m”. If conformity rules the day, as it has for some time, expect big things (some assembly required), from NOVA.
Have a look.
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