Big industry, big space
The demand for furniture is closely related to real estate sales, but capital markets tend to ignore the longer-term drivers of income growth. In addition, we found that the global furniture market is 3.7 times the size of the home textile market, while China's figure is only 1.5, which may be due to the fact that home textiles began branding consumption earlier than furniture.
According to Euromonitor International, the main population of Chinese furniture consumption (ie, the 25-40 year olds), the number of people with incomes between $15,000 and $5 million in five years will be 2.8 times the current level. We believe that the new middle class The emergence of the brand may consume furniture.
A decentralized pattern can also breed large companies
Most of the world's top ten furniture companies are from the top five countries in terms of market size, while China is the second largest home market in the world, and the scale of furniture companies is still small. Through the research on the top six home markets, we found that: 1) the top ten companies can account for 19%-41%, while China is only 9%; 2) the largest local furniture companies (except IKEA) can account for To 2% to 9% of the market share, and China's largest furniture company market share of only 1%, there is still a broad room for growth.
Howdens Cabinet Customizer - the best furniture company in the past 6 years
Howdens has grown into the UK's largest cabinet brand in 18 years, with revenues growing at an annual rate over the past 12 years, with an average compound annual growth rate of 16%. The key to the company's rapid growth lies in three points: 1) establishing a good relationship with small and micro enterprises; 2) strong supply chain management; and 3) cost leadership.
Recommended A-share custom wardrobe unique Sofia
The reasons we recommend: 1) custom wardrobe is still in the growth stage; 2) the company has the foundation to lead the industry (brand, capacity layout, channel advantage); 3) the company's customized production operation mode enables it to maintain high turnover, Achieve healthy expansion.
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