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Upholstery giant sets sights on UK market

A major player in the upholstery industry, with brands including Kuka Home and Rolf Benz, is targeting the U.K. market for growth amid global economic challenges and stagnant profits.

For the first half of 2024, the Shanghai-listed company, Jason Furniture Hangzhou, reported a 3% decrease in net earnings, totalling 896.1 million yuan (£95.8 million). Revenue remained nearly flat at 8.9 billion yuan (£952.8 million), showing a minimal change from the same period in 2023 when sales had increased by 6.7%.

Photo: Dreamstime.

In its detailed half-year report, Jason Furniture outlined its strategy to capitalise on opportunities in the U.K. market by leveraging its value chain integration. The company aims to invest in new products and promotional activities, test a local warehouse fast delivery model, and explore inventory order opportunities.

The U.K. is considered a crucial market for Jason Furniture, alongside other key regions such as the U.S., mainland Europe, and its domestic market in China. In China, the company operates a joint venture with the Italian sofa manufacturer Natuzzi.

By concentrating on the U.K. market, Jason Furniture hopes to navigate the current economic slowdown and drive future growth through targeted investments and innovative business models.

Source: www.thefurnishingreport.com

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