As China's new government vigorously promotes new urbanization, China's urban household consumption continues to grow, and the furniture industry is about to enter a period of steady growth. Foreign furniture manufacturers have greatly adjusted their layout in China in order to seize the "China Opportunity".
The “Chinese market†has become a market that cannot be ignored on a global scale. Industry insiders said that with the rise of urban elites and the upgrading of consumer attitudes, more high-end and personalized furniture needs will be brought. How to continuously improve the competitiveness and influence of the brand in the Chinese mainland market has become the focus of foreign furniture brands.
Adjustment of foreign-funded enterprises in China
The market in China has always been the “difficult bone†of international business giants, and strategic adjustment is also an inevitable choice to move with the trend.
Known as "the first brand of China's custom closet", Sophia held a press conference with the French SALM Group on the same day, and announced the introduction of the "French first cabinet brand" SCHMIDT Smy cabinet brand. Some experts believe that the cooperation between Sofia and the French SALM Group will help to achieve complementary advantages, avoiding the situation of SCHMIDT SMI cabinets entering the Chinese consumer market, and also helping Chinese companies to obtain international advanced management concepts and technical support. .
Coincidentally, Bologna, a well-known Chinese home furnishing company with a cabinet as its flagship, also announced the establishment of a joint venture with the nearly century-old German cabinet giant Avi Cullman.
It is different from the two foreign-funded enterprises seeking Chinese local partners to adapt to the Chinese market as soon as possible. Recently, KOKUYO Furniture Trading (Shanghai Co., Ltd. officially changed its name to Guoyu Furniture (China) Co., Ltd., and launched the China office furniture market.
"There are two main reasons for the change of name. The first is the expansion of the business." Xiao Xike said that the original company name contained the word "commerce". This time the name change was removed because the company's development direction is not just a furniture sale. The company is constantly promoting the development of the furniture industry in China.
The second is to show the continuous expansion of coverage areas. Xiao Xike said that the original company name was limited to the "Shanghai" scope. After this change to "China", the coverage area of ​​KOKUYO was not only in the first-tier cities such as Shanghai, Beijing, Guangzhou (real estate), but also the economically developed inland cities. Most of China's other regions will be within the scope of KOKUYO's services.
Guo Xi Furniture (China) General Manager Xiao Xike said to the reporter that the name change of KOKUYO furniture is due to the company's future business and coverage area expansion. It extends inland on the basis of the original first-line coverage area, enriching the product variety and thus closer The current situation of the Chinese market, the opportunity to seize the market.
In 2003, KOKUYO entered China and established KOKUYO Furniture Trading (Shanghai) Co., Ltd. Currently, there are 51 agencies in China, and Chinese-funded enterprises account for about 40% of the total. “In the future, the company will regard the China mainland market with great potential as the focus of future development. In addition to covering first-tier cities such as North, Shanghai and Guangzhou, the current KOKUYO products and services will further extend to the inland areas with rapid economic development. Qian Zhonghong, director of China National Furniture Co., Ltd. and director of Chinese sales, told reporters that Guoyu Group will move its strategic layout in China from the local market to the inland market.
China's 100 billion market opportunity is optimistic
Statistics show that China's office furniture market is huge, and the market demand is 100 billion yuan. According to industry insiders, the adjustment of foreign furniture brands in China is meaningless if it is simply to change the company name without any substantive action.
“The development of KOKUYO in China in the past decade is both an opportunity and a challenge. When entering the Chinese market in 2003, many domestic companies began to consider improving the office environment, and also caught up with the rapid development of China's modern (modern decoration renderings) furniture. Xiaoxiike said that in order to better capture the Chinese market, KOKUYO Furniture released the new office chair ENTRY and the office environment PRESENCEII. In the past three years, in order to meet the deep meaning of the new company name, the company has increased investment in manpower, material resources, IT technology and other aspects.
"The choice of China's mainland market for business development is mainly from two aspects: First, China's office furniture market is huge, and the turnover of Kokuyo Furniture's branches in China's coastal areas only accounts for about 10% of the total market share. Therefore, hope The market share is increased by opening up the inland market.†Xiao Xike said that the second reason is that Guoyu saw business opportunities from the Chinese government's series of support policies for the inland economy, and the inland market has great potential for development.
Kouyoshi Hato, executive director of Kokuyo Furniture Co., Ltd., head of overseas business, and chairman of Kokuyo Furniture (China) Co., Ltd. said that the goal of Kokuyo Furniture is to strive to grow into a Chinese NO.1 furniture manufacturer by 2020.
Liu Chen, executive vice president and secretary general of the Beijing Home Furnishing Industry Association, told reporters: "From the perspective of the national market, the development of the furniture industry is generally rational, but not every brand is continuously expanding. There are many requirements for market positioning, and companies are beginning to learn to have a purposeful layout based on their own characteristics."
The article was reported by Shanghai Furniture Editor
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