Buyers of ultra-expensive sofas in China are up in arms over the alleged faking of the imported status of their furniture, local media reported yesterday.
Da Vinci, a Singaporean-owned store that has outlets all over China, sells silk-covered sofas, gilded beds and ornate coffee tables for tens of thousands of US dollars.
The firm is accused by Shanghai authorities of falsifying the location in which some of its furniture is made, Chinese state media said.
The investigations into Da Vinci came after China’s national broadcaster CCTV reported on Sunday that some of the furniture labeled as made overseas was in fact manufactured in China’s Guangdong Province, and what the company said was rare wood was in some cases part polymer and other chemicals.
“I am considering returning all furniture and asking for compensation from Da Vinci,” a customer surnamed Ding told the China Daily.
Ding said he had spent nearly 3 million yuan (US$464,570) on furniture from the store.
China, the second-largest economy in the world, is home to 189 billionaires and just under 1 million millionaires. The newly minted are known to book out high-end department stores like Saks Fifth Avenue for private shopping excursions in the US.
The Shanghai Entry-Exit Inspection and Quarantine Bureau, which examined the company’s customs records, said about 10 percent of the products sold as “imported” by Da Vinci were made in China, the Shanghai Daily reported yesterday.
The newspaper said the company marked up the prices of some of its China-made furniture after sending the goods to a free-trade zone in Shanghai, then sending them to its warehouse, labeling them as imported.
The Shanghai Administration for Industry and Commerce said it was probing claims Da Vinci misled consumers about where its products were made and that it would fine the company if it was found guilty.
“We will order Da Vinci to stop selling the relevant products and fine the company if detailed testing reports, which will be released very soon, confirm the initial findings,” spokesman Xu Shang said.
The official investigation had already discovered products on sale for many times their true value, Xu said, including a 92,800 yuan bedstand sold as solid wood, but actually made of fiberboard.
Da Vinci denied the allegations and said all its stated “made in Italy” furniture was imported. The firm declined to comment further.
Da Vinci also has branches in Singapore, Hong Kong, Malaysia and Indonesia.
‘SWASTICAR’: Tesla CEO Elon Musk’s close association with Donald Trump has prompted opponents to brand him a ‘Nazi’ and resulted in a dramatic drop in sales Demonstrators descended on Tesla Inc dealerships across the US, and in Europe and Canada on Saturday to protest company chief Elon Musk, who has amassed extraordinary power as a top adviser to US President Donald Trump. Waving signs with messages such as “Musk is stealing our money” and “Reclaim our country,” the protests largely took place peacefully following fiery episodes of vandalism on Tesla vehicles, dealerships and other facilities in recent weeks that US officials have denounced as terrorism. Hundreds rallied on Saturday outside the Tesla dealership in Manhattan. Some blasted Musk, the world’s richest man, while others demanded the shuttering of his
Taiwan’s official purchasing managers’ index (PMI) last month rose 0.2 percentage points to 54.2, in a second consecutive month of expansion, thanks to front-loading demand intended to avoid potential US tariff hikes, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. While short-term demand appeared robust, uncertainties rose due to US President Donald Trump’s unpredictable trade policy, CIER president Lien Hsien-ming (連賢明) told a news conference in Taipei. Taiwan’s economy this year would be characterized by high-level fluctuations and the volatility would be wilder than most expect, Lien said Demand for electronics, particularly semiconductors, continues to benefit from US technology giants’ effort
ADVERSARIES: The new list includes 11 entities in China and one in Taiwan, which is a local branch of Chinese cloud computing firm Inspur Group The US added dozens of entities to a trade blacklist on Tuesday, the US Department of Commerce said, in part to disrupt Beijing’s artificial intelligence (AI) and advanced computing capabilities. The action affects 80 entities from countries including China, the United Arab Emirates and Iran, with the commerce department citing their “activities contrary to US national security and foreign policy.” Those added to the “entity list” are restricted from obtaining US items and technologies without government authorization. “We will not allow adversaries to exploit American technology to bolster their own militaries and threaten American lives,” US Secretary of Commerce Howard Lutnick said. The entities
Minister of Finance Chuang Tsui-yun (莊翠雲) yesterday told lawmakers that she “would not speculate,” but a “response plan” has been prepared in case Taiwan is targeted by US President Donald Trump’s reciprocal tariffs, which are to be announced on Wednesday next week. The Trump administration, including US Secretary of the Treasury Scott Bessent, has said that much of the proposed reciprocal tariffs would focus on the 15 countries that have the highest trade surpluses with the US. Bessent has referred to those countries as the “dirty 15,” but has not named them. Last year, Taiwan’s US$73.9 billion trade surplus with the US