More home furnishing companies piling up cross-border overseas.

The saying "if you don't go to sea, you're out of the game" is quite popular in the Chinese home furnishings industry today.

According to the reporter's rough statistics, there are about 10 well-known domestic home furnishing enterprises to set up stores and factories overseas. The latest data released by the General Administration of Customs shows that from January to April 2024, China's furniture exports reached 168.55 billion yuan, an increase of 20.4% year-on-year, creating a new high for the same period in history. Going overseas is becoming an important way for many home furnishing enterprises to realize new growth points.

01 a new round of "overseas tide" to attack

March 30, located in the Cambodian capital of actually home Phnom Penh store opened, this is also the domestic leading home furnishing enterprises in overseas opened the first store.

"The Phnom Penh store is the first stop of the internationalization of actually home, in the next 3 to 5 years, we will complete the strategic layout of the ASEAN countries." At the opening ceremony of the store, Wang Linpeng, chairman and CEO of actually home, introduced the company's overseas plan in this way. As of June this year, the company has set up directly-managed stores or branches in Malaysia, Singapore and other Southeast Asian countries.

Expand overseas territory, actually home is not an example.

On the first day of this month, the first Japanese flagship store Zhibang home in Tokyo Shibuya officially opened, began the expansion of business in Japan. And the same week, ZhiBang home furnishing Philippines Cebu store also announced the opening.

The reporter noted that at the end of last year, Zhibang Home Furnishings held the 2024 Global New Products Conference and Global Strategy Conference in Bangkok, Thailand, to start the global development program.

Compared to recent years, home furnishing enterprises have concentrated on opening stores and factories in Southeast Asian countries, and earlier enterprises that went overseas preferred Europe and the United States, and acquisitions were the main way to go overseas that year. For example, in 2018, Qumei Home spent more than 4 billion yuan to acquire the Norwegian listed home furnishing company Ekornes; in the same year, Gujia Home Furnishings successively acquired Italian home furnishing brand Natuzzi, German brand Rolf Benz, and Australian furniture brand Nick Scali; and in 2022, OuPai Home Furnishings acquired Italian furniture manufacturer FORMER.

Nowadays, the "money-bashing" acquisition mode has gradually passed, and the new round of overseas enterprises are more willing to choose to open flagship stores and other "light" asset mode, and more importantly, the opportunities brought about by the rapid development of urbanization in developing countries.

If you want to know more about the industry information and cutting-edge products, CIFF, which gathers a lot of furniture brands, is surely the right choice for you. The 54th CIFF Shanghai will be grandly unfolded from September 11 to 14, 2024 at the NATIONAL EXHIBITION AND CONVENTION CENTER (SHANGHAL HONGQIAO).

Article source: Guangzhou Customized Home Furnishing Industry Association

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