Textile Furnishings Mills

Industry Profile Report

Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters

Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.

Call Preparation Call Prep Questions, Industry Terms, and Weblinks.

Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.

Industry Profile Excerpts

Industry Overview

The 1,300 textile furnishings mills in the US manufacture non-apparel textile-based products, including floor coverings, window treatments, and household linens. Household linens include bedspreads, blankets, comforters, cushions, napkins, pillowcases, pillows, placemats, quilts, sheets, slipcovers, shower curtains, tablecloths, and towels. Customers include distributors and retailers. Carpet and rug mills also sell to builders, interior decorators, and designers.

The Fashion Element In Household Textiles

Fashion trends and fads have become a critical factor in driving demand for curtains, drapes and household linens.

Competition From Imports

Imports dominate the curtain, drape, and household linen categories, and account for about 81% of the US market.

Industry size & Structure

A typical carpet and rug mill employs 150 workers and generates about $45 million annually, while a typical curtain and linen mill employs about 18 workers and generates about $3 million annually.

    • The textile furnishings mill industry includes about 1,300 companies which employ 47,000 workers and generate about $13 billion annually.
    • While the curtain and drape mill industry is fragmented, the carpet and rug and household linen mill industries are concentrated.
    • Large companies include Shaw (Berkshire Hathaway), Mohawk, WestPoint Home (Icahn Enterprises), and Springs Global US (Springs Global Participacoes).
                            Industry Forecast
                            Textile Furnishings Mills Industry Growth
                            Source: Vertical IQ and Inforum

                            Recent Developments

                            May 23, 2024 - Shipments, Inventory Down
                            • Textile shipments were 1.7% lower in March 2024 compared to a year ago following an ongoing downward trend, according to the latest data from the Census Bureau. Textile shipments were up 3.3% in March 2024 from the previous month. Inventories of textile products declined 3.7% in March 2024 compared to a year ago, and were down 0.2% from the previous month. Additionally, producer prices for textile furnishings mills were flat in March 2024 compared to a year ago, according to the Bureau of Labor Statistics.
                            • Disruptions in the Red Sea are expected for the rest of 2024 due to continuing attacks by Iran-backed Houthi rebels, with diversions causing higher container freight rates, according to the Wall Street Journal. Container freight rates have increased about 30% in recent weeks, with most ship owners and brokers diverting large container ships from the Red Sea. The Red Sea serves as the entry point for ships to the Suez Canal on trips from Asia to Europe. According to the article, most of the diverted ships go around the Cape of Good Hope in South Africa, which adds about 2.5 weeks to the trip. Import volume is expected to increase in Q3, when retailers typically stock up for the holiday season.
                            • A new bipartisan coalition has been launched to examine the impact of a trade rule known as the de minimis import loophole, according to Just Style. US textile and garment manufacturers say their industry is being negatively impacted by de minimis, which they say gives an advantage to foreign producers. The provision allows foreign companies to ship goods directly to US customers without paying tariffs if the goods are worth less than $800. The nearly-century-old rule has seen a significant increase in use in recent years. The number of packages entering the US without tariffs under the policy rose from 150 million in the 2016 fiscal year to 1 billion by 2023, according to the New York Times. Half of the packages contain textile and apparel products, with about 30% coming from Chinese fast-fashion retailers Shein and Temu, per the article. The National Council of Textile Organizations (NCTO) supports eliminating the de minimis rule.
                            • Floor coverings sales ended 2023 on a positive note following a challenging first three quarters of the year, buoyed by a rebound in new home construction thanks to lower interest rates, according to Catalina Research data in Floor Covering Weekly. The value of US floor coverings manufacturer sales grew by an estimated 0.7% in Q4 2023, and square foot sales were an estimated 1.9% higher. This is an improvement over the first three quarters of 2023, which experienced a 7.1% decrease in dollar sales and an 8.9% decrease in square foot sales. The first quarter of 2024 may continue the recovery; Catalina estimated that floor coverings sales could improve due to higher builder purchases and continued gains in non-residential building construction.
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