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Tag: Furniture

  • Temple & Webster posts strong Sales during First half of the Year.

    Temple & Webster posts strong Sales during First half of the Year.

    Temple & Webster’s revenue grew by around 40 percent to roughly $32 million in the first four months of the year, the online furniture and homewares business said in a trading update to analysts.

    With two months still go in the second half of fiscal 2019, the retailer indicated it has seen the continued uptake of online furniture shopping due to demographic changes, something chief executive Mark Coulter previously explained when the business revealed its $3 million profit during the first half of its 2019 financial year.

    “The trend to online actually accelerated during a tougher retail environment, and I think we’re benefiting from that trend,” Coulter told.

    “Irrespective of any macro-economic trend, there’s still that shift toward online. Millennials are still growing up, and are still moving out of home and are buying their first or second property. That’s going to happen regardless of any downturn.”

    The business’s focus on improving and increasing its range has allowed it to sell across multiple demographics, and the number of active customers grew 36 percent to approximately 260,000 as of April 30, 2019.

    In the first four months, the company also launched its first by-appointment trade and commercial showroom in Sydney.

    The showroom is described as the brand’s first permanent physical experience, offering customers the ability to touch and feel products, view samples, and review designs prior to large scale purchases.

    “I think as the order value gets bigger and as the order gets more complicated, having a physical space for someone to meet an account manager will help,” Coulter previously told.

    “From a customer point of view, we don’t envisage having many showrooms around the country… I think the main game for us is going to online for a very long time.”

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  • Ikea’s first small-format store Without Check-Outs

    Ikea’s first small-format store Without Check-Outs

    Ikea Australia officially opened its first small-format store on Friday at Warringah Mall on Sydney’s Northern Beaches.

    The 98sqm store is the retailer’s first Home Planning Studio, where customers can book one-on-one planning sessions with staff to design their dream kitchen or bedroom storage solution.

    The store lacks many of the signature features consumers have come to associate with the Swedish flatpack giant, including a warehouse, blue plastic ‘Frakta’ bag and meatballs, not to mention checkouts.

    Instead, customers purchase their kitchen or storage solutions online at the studio, with the items delivered directly to their home. Customers can also shop a digital wall of homewares, which they can add to their virtual bag and transfer to their mobile device for checkout.

    This digital-first, highly personalised shopping experience is geared towards a different type of customer than the typical Ikea shopper, according to Jan Gardberg, country manager of Ikea Australia.

    “With the Ikea Home planning studio we have reinvented the traditional Ikea experience for a different audience, with different shopping needs putting digital at the heart of the customer’s journey. However, the digital experience is delivered in our most personalised approach yet,” he said.

    “The customer’s wants and needs for their kitchen or bedroom storage solution are the starting point, and the experience they will receive in the Home Planning Studio will be personalised from there.”

    Customers are advised to book their kitchen and storage consultations in advance, but they can also drop in and browse. It costs $99 for a two-hour kitchen planning session, which is refunded on the purchase of a kitchen within the session.

    The studio also includes a projector tool, which allows customers to envision what their ideal wardrobe will look like by projecting it onto a wardrobe front.

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  • Muji Singapore opens Large store at The Jewel

    Muji Singapore opens Large store at The Jewel

    Muji Singapore has opened a two-storey store at Jewel Changi. The 12th outlet of the popular Japanese minimalist brand houses more than 4000 products and an 88-seat Cafe&Meal dining area.

    The product range includes apparel, furniture, kitchenware, toiletries, stationery and food items.

    Designed by Tokyo-based design company Super Potato, the store also offers the largest range of Muji’s fitness line, the Walker series.

    The store also features an interior-advisory service, available to recommend customisable solutions to customers.

    Muji Singapore chose Jewel Changi as its newest location to showcase the ‘world of Muji’ to Southeast Asian customers.

    Naoki Kadoike, MD at Muji Singapore and Malaysia, expects about 40 per cent of customers will be tourists, the remainder locals.

    “When I was posted here in January, I realised how similar Singaporeans are to the Japanese. People are very conscious of having a good lifestyle and there is a common understanding of Muji’s philosophy,” Kadoike said.

    Meanwhile, Muji Singapore plans to introduce the Muji Passport app, providing local customers with information about the brand and promotions, along with weekly newsletters.

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  • Low-cost imports challenge Furniture Retailers

    Low-cost imports challenge Furniture Retailers

    The furniture retailing industry may face a tough trading environment in 2019-20 with revenue expected to decline by 3.3 per cent during the period, according to IBISWorld analysts.

    Mounting internal and external competition is expected to continue to threaten the viability of furniture operators in the current year, with revenue expected to decline to $890.0 million as the industry continues to struggle with a challenging operating environment.

    Bao Vuong, IBISWorld senior industry analyst, said the rising volume of low-cost furniture imported into New Zealand is also forecast to hinder the industry’s performance in the current year.

    “The availability of low-cost furniture imports is projected to heighten industry competition,” Vuong said.

    Industry revenue is also likely to be suppressed by slower growth in residential building construction, which will reduce retail demand for furniture items.

    An IBISWorld furniture retailing industry report last year showed it has faced a tough trading environment over the past five years, with revenue growth stifled by increasing competition.

    Within the industry, players typically compete on the basis of price and product range.

    External competition comes from a range of other operators that sell furniture as part of their operations, including department stores, auction websites and online-only players.

    In the next five years through 2023-24, IBISWorld analysts forecast the furniture retailing industry to be operating within a challenging environment .

    “Mounting internal and external competition is projected to continue threatening the viability of operators over the period,” analysts said.

    The report also showed softer real household discretionary income growth could hinder retail demand for furniture products during the period.

  • Oaktree and Alceon acquire Decor and Willow brands

    Oaktree and Alceon acquire Decor and Willow brands

    Investment companies Oaktree Capital Management and Alceon Group have made a move into homewares with their acquisition of Marlin Management Services (Marlin Brands), a wholesaler whose portfolio includes Decor and Willow, among other leading kitchen and home brands.

    Oaktree and Alceon own a number of iconic Australian apparel brands, including Billabong and Quiksilver (Oaktree), and Noni B (Alceon).

    Marlin Brands owns the more than 60-year-old Decor brand, which makes reusable plastic containers, the more than 100-year-old Willow brand, which makes jugs, coolers and rubbish bins, and the Albi brand, which supplies more than 3000 retailers with home and kitchen products, fashion accessories and jewellery.

    Marlin also owns Independence Studios, a giftware and toy brand, and Pacific Optics, which distributes general merchandise such as sunglasses, hats and phone accessories to petrol and convenience stores.

    The acquisition will see Oaktree and Alceon focus on growing Marlin Brands’ online and international sales.

    “We are excited about the next phase of growth under Oaktree and Alceon’s stewardship,” Greg Kerr, chief executive of Marlin Brands, said.

    The companies’ growth strategy entails growing Decor and Willow’s international operations, particularly its penetration into the US market, and further growing the company’s direct-to-consumer sales through online marketplaces. Marlin Brands already has more than 2600 SKUs listed on Amazon.

    “Together our strategy is to accelerate Marlin Brands’ growth via supply chain transformation and cater to an omnichannel approach to ensure our consumers can be consistently delighted by Marlin’s products in Australia and increasingly internationally,” Kerr said.

    In a statement released on Monday, the investment companies highlighted their expertise in optimising group logistics, warehousing and supply chain management, and branded wholesale and direct-to-consumer sales, as key factors that will enable them to grow the newly acquired business.

    Marlin Brands currently serves more than 18,000 retailers throughout Australia and New Zealand, with more than $260 million of annual revenue.

    Coast2Coast Capital, the South African investment company that owns Marlin Brands, put the wholesaler up for sale last September after abandoning plans for an initial public offering.

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  • King Living Opens Shanghai Flagship Store

    King Living Opens Shanghai Flagship Store

    Australian furniture and lifestyle brand King Living has opened a flagship retail store in Shanghai, continuing its global expansion into China.

    The new 400sqm space will showcase King Living’s sofa designs, dining ranges, contemporary bed and mattress ranges, and outdoor collections.

    The brand has been a prominent player in Australian furniture design for more than 40 years, and is now continuing to seek a global audience with the opening of the new showroom in the design district of Xuhui in Shanghai.

    As King Living moves into China, it further expands its global reach with existing stores in Singapore, Malaysia, New Zealand and Canada, with a showroom opening in Vancouver slated for later this year.

    The brand represents the deep quality and barefoot luxury of the Australian lifestyle that is in high demand across China, which has been the driving force behind for its expansion.

    “Shanghai is key to King Living’s global growth strategy,” said King Living’s CEO Anna Carrabs. “China provides us with an unparalleled growth opportunity that doesn’t exist in slower-moving markets of developed countries. A key advantage for King Living is that one of our manufacturing facilities is in Shanghai, which allows us to implement initiatives and increase market penetration.

    “Being from Australia, we have a reputation for quality, and I think that sets us apart from some of our global competitors. This is a very exciting time for King Living and we look forward to seeing the Shanghai showroom thrive in what we hope will be the first of many stores in the region.”

    King Living is also one of the first Australian furniture retailers to offer Alipay and WeChat Pay as a payment option throughout all their showrooms in Australia and abroad. These platforms are the preferred payment method for Chinese consumers both domestically and internationally, enabling more customers to transact with their mobile wallet.

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  • Indian startup WoodenStreet thrives with O2 Growth Hacking

    Indian startup WoodenStreet thrives with O2 Growth Hacking

    Indian furniture startup WoodenStreet is targeting 15 additional experience stores in the territory by the end of the year.

    The firm, which specialises in customisable furnishings, currently operates 12 locations throughout India as well as more than 30 delivery hubs.

    “Our country is a diverse nation,” said the firm’s CEO Lokendra Ranawat, “which means that no two homes are the same. Our design tastes are influenced by our upbringing and our culture, so why should we be forced to buy furniture that does not match them? We want people to be free from such constraints.

  • Ashley Furniture HomeStore Opens Largest Flagship Store in Kuala Lumpur

    Ashley Furniture HomeStore Opens Largest Flagship Store in Kuala Lumpur

    World No.1 selling furniture store brand, Ashley Furniture HomeStore, celebrated the grand opening of its largest flagship HomeStore in Quill City Mall today.

    Owned and operated by HAUSLIFE Furniture Sdn Bhd (HAUSLIFE), the sole licensee and operator of Ashley Furniture in Peninsular Malaysia, Ashley Furniture HomeStore at Quill City Mall marks the company’s fourth store in Malaysia.

    The 1300 square meter HomeStore’s interior architectural design include Ashley Lifestyle collections – ‘Family Spaces’. ‘Vintage Casual’, ‘Urbanology’, ‘New Traditions’ and ‘Contemporary Living’; meandering walkway through the showroom as well as unique and inspiring wall finishes. Product categories include upholstery set, bedroom set, dining room, home office, recliners, mattresses and accessories.

    Yu Kong Ching, Founder and CEO of HAUSLIFE, said, “Clearly, Ashley’s brand of furniture products have struck a chord amongst Malaysian consumers and this is reflected in the tangible growth of the brand’s presence here in Malaysia.”

    “The opening of this flagship store is also a testament to HAUSLIFE’s commitment, dedication and know-how in strengthening Ashley Furniture’s continued success in Malaysia in terms of market share and brand recognition.”

    According to Yu, HAUSLIFE aims to open eight (8) Ashley Furniture HomeStores by 2022. “There is still a lot of room for us to grow in the Malaysian market, more so as we see an ever-growing demand for quality, value, style and excellent service by discerning consumers in the retail furniture market,” Yu added.

    Speaking at the launch of Ashley Furniture HomeStore Quill City Mall today, Mr Robin Lim, VP sales of Asia for Ashley Furniture HomeStore, said, “We are excited to see the Ashley brand expanding aggressively in Malaysia. The ASEAN region, including Malaysia, is essential to Ashley Furniture’s global growth plans.”

    Comprehensive E-commerce platform

    In tandem with the global trend towards embracing the digital lifestyle, Ashley Furniture HomeStore recently launched its e-commerce platform only for the Malaysian market. Developed to be user-friendly yet feature-packed with great deals, this online platform allows Ashley’s customers from all over Peninsular Malaysia to purchase Ashley products from authorized retailer online.

    Exclusive Affiliate Program for Interior Designers

    HAUSLIFE Interior Designer Affiliate (HIDA), an incentive program custom-built by HAUSLIFE for interior designers, was launched in 2015 With over 215 affiliates, HIDA aims to empower interior designers today to have the mean to realise their creative vision and make life better. The program brings lots of benefits including exclusive deals on Ashley and HAUSLIFE products as well as access to new and selected products.

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  • Ikea leasing program targets students and employees

    Ikea leasing program targets students and employees

    Swedish furniture and homewares retailer Ikea plans to launch furniture rental services in all of its main markets.

    The Ikea leasing strategy is twofold: firstly it addresses the budgetary constraints of customers who move frequently and cannot afford to replace furniture to suit their new space, and secondly to deliver on its sustainability promise by reducing waste and expanding the lifespan of furniture products.

    “You should be able to have a lovely home, and a good conscience, and you should be able to afford it,” said Ingka Group CEO Jesper Brodin in an interview with Reuters.

    Details of the plan, framed as a subscription-based leasing offer, were revealed during the launch of the company’s first ‘sustainable’ store in Kaarst, Germany, this week. Students in the Netherlands can already use the program, paying €30 a month to lease a table, chairs, a bed and a desk. In Switzerland and Sweden, Ikea is developing a similar plan for office furniture.

    Brodin said many Ikea customers are moving home more often than in the past and buying new furniture to fit new spaces can be a financial burden. Using the new Ikea leasing service, they can simply swap out furniture each time the move without having to worry about how they sell or dispose of their existing items.

    The Ikea leasing concept also taps into the pervasive sharing culture in which younger generation consumers embrace renting items rather than owning – including music, fashion and motor vehicles.

    The program is also in line with Ikea’s mission to be affordable, convenient and look after the planet.

    Ikea says it will test the rental concept in all 30 of its markets by 2020. Furniture items will be repaired or refurbished between leases and when too old to be leased out, recycled.

    Pia Heidenmark, Ikea’s head of sustainability, added another advantage of the program: by taking furniture back, the company will be able to assess the durability of its products and feed that information back to its design team.

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  • Ikea to open first small-format store in Sydney

    Ikea to open first small-format store in Sydney

    Ikea Australia’s first small-format store is set to open in Sydney’s Westfield Warringah Mall at the beginning of May.

    The Ikea Planning Studio will provide shoppers on the Northern Beaches with a place to plan and build their dream kitchens and bedrooms. Staff on-site will be equipped with tablets and provide one-on-one consultations to help customers select the right products from Ikea’s range of furniture, appliances, storage solutions and more.

    This stands in sharp contrast to the massive, showroom-cum-warehouse stores that Ikea traditionally has been famous for. But the shifting retail landscape has seen the Swedish furniture giant globally adapt its offer by launching e-commerce sites, providing more do-it-for-me services and, increasingly, experimenting with smaller stores in urban centres.

    “At Ikea, we know Australians are looking for new and more convenient ways to shop their favourite products. We’re excited to be bringing bespoke Ikea shopping experiences to Aussies around the country in locations that suit them,” Ikea Australia country manager Jan Gardberg said.

    “We’ve chosen Warringah Mall as our first location in order to reach even more Australians that live within urban areas, outside of the city centre.”

    The Planning Studio seemingly aims to provide a more immersive shopping experience, with a “luxe bedroom environment” that will transport shoppers to a “hub of femininity through floral scents and classic detailing” and a “soothing wellness sanctuary” that will feature a variety of kitchen solutions.

    In a separate initiative, the retailer currently is hosting a series of “sleepovers” at stores across the country, where select customers can experience how Ikea’s range of sleep solutions – that is, mattresses, bedding and other items – provide a better night’s sleep. This suggests Ikea is looking for ways to interact with customers on a more personalised and experiential level.

    “We want to inspire people to get creative and explore the possibilities of our range. The launch of our small format stores is just another way we’re helping Australians to create personalised and functional spaces within the home,” Gardberg said.

    The Planning Studio’s design was inspired by Scandinavian modern style and Ikea’s design values of sustainability, quality, form, function and affordability, the retailer said, and created with the eco-friendly shopper in mind.

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  • Fritz Hansen Opens First Store in China

    Fritz Hansen Opens First Store in China

    Furniture firm Fritz Hansen has launched a Jaime Hayon-designed showroom in the Chinese city of Xi’an.

    The new 1000sqm gallery, represents a stage in the brand’s ambition to become the largest Danish brand in China, is Fritz Hansen’s first store in China and its largest in the world.

    “You always need to find a way to be new, never done before – you need to create an experience,” said Fritz Hansen’s Asia CEO Dario Reicherl in an interview with Dezeen. “Through a series of steps, I believe we can be the biggest Danish brand in China in a couple of years.”

    The gallery/store is designed to resemble a temple with high ceilings, warm-hued walls and vaulted walkways created by the Spanish designer. Furniture on display is arranged in living room-style set-ups. Fourteen more intimate show spaces are accessible by a grand staircase.

    “Like in a labyrinth, you start to discover the little areas and each one has the furniture of Fritz Hansen,” said designer Jaime Hayon, “from the historical ones to the new ones I have designed, and pieces from other designers. The lighting and everything has been composed together with some art, carpeting, plants and small objects. So in this way we can inspire the client.”

    “China is the second biggest luxury market in the world, soon overtaking the US,” according to the brand’s executive VP of sales and marketing Lars Hardboe Galsgaard. “It will definitely be the biggest market and economy in the world in terms of private consumption and commercial consumption within a few years. So if you look at that marketplace, we needed to move here. We need to be part of that and we need to be part of defining design, furniture and lifestyle in China.”

  • Coco Republic Expands Into New Zealand

    Coco Republic Expands Into New Zealand

    After almost 40 years in business, upmarket furniture brand Coco Republic is set to open the doors to its first ever international store in New Zealand mid-year.

    The 1000sqm store will be located within Westfield Newmarket, the brand’s second shopping centre location.

    “I think we’ve got a very steady approach to growth, and we’re really now in a position that when a unique and compelling proposition presents itself such as this one, we’re not forcing our growth, we’re just taking advantage of those opportunities,” Coco Republic’s CEO Nicholas Foster told.

    According to Foster, the Newmarket site brings together the best of Coco Republic’s destination and boutique offerings. This will include the brand’s chic in-store cafe, L’Americano.

    “Newmarket is going to be incredibly convenient for our core customer demographic in Auckland,” he said.

    “We’ve also secured a site that gives us prime ground level frontage to Broadway, the main arterial road through Newmarket and having a large footprint in that centre will allow us to curate a range of over 300 products to be showcased in that facility. We’re also going to take the food and beverage into that environment.”

    For the last few years, Foster says the furniture brand has focused on several key areas of the business, including investing in in-house design and sourcing teams and attracting talented local interior designers.

    Coco Republic has also been working on offering customers an elevated in-store experience.

    “We’re focused on delivering a unique and inspiring retail experience, where customers come into our showrooms and enjoy being part of the experience. That’s where we’ve also invested in food and beverage in L’Americano, particularly for our larger design centres,” Foster explained.

    “People often come in half a day or a whole day and get inspired and work out their design solutions and enjoy the extension by having a light lunch or a coffee.”

    “We’ve been on an exciting growth strategy over the last few years. We’re a premium aspirational design services brand but we’ve consciously focused on ensuring that we remain accessible from a customer’s perspective.”

    The business has also spent some time investing in its supply chain to increase its speed to market. There is a new 11,000sqm logistics hub in the Quarry in Greystanes too, which will form the basis of logistics for Coco Republic, sister brand Max Sparrow and New Zealand distribution.

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  • Ikea to launch ‘intelligent curtain’

    Ikea to launch ‘intelligent curtain’

    Ikea has developed an ‘intelligent curtain’ capable of purifying air. The invention, coated with sunlight-activated minerals that break down airborne pollutants, has been developed in collaboration with several European and Asian universities. “By enabling a curtain to purify the air, we are creating an affordable and space-saving air purifying solution that also makes the home more beautiful,” said Ikea product developer Mauricio Affonso.

    The Gunrid intelligent curtain will be sold in stores next year and is expected to sell well in areas particularly affected by air pollution.

    According to the World Health Organisation, 91 per cent of humanity lives in areas affected by significant air pollution, which kills around 7 million people every year.

    “Gunrid is the first product to use the technology,” said Ikea’s head of sustainability Lena Pripp-Kovac, “but the development will give us opportunities for future applications on other textiles.”

    “We know that there is no single solution to solve air pollution. We work long term for positive change, to enable people to live healthier and more sustainable lives”, she said.

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  • Looking at Omnichannel presence in India: IKEA

    Looking at Omnichannel presence in India: IKEA

    Swedish home furnishings major IKEA Thursday said it plans to have an Omnichannel presence in India going forward, reiterating its long-term commitment to the country. Last year, the company opened its first store in Hyderabad, spread over 13 acres of land and has a built up area of 4 lakh sq.ft. “We are long term committed to India. We are planning to have omni-channel presence here. We will have three formats — big stores, online and smaller stores here,” Peter Betzel, CEO, IKEA India said.

    According to a report, the presence in three formats is to bring the customers closer, he added. The Hyderabad store is the first of 25 such outlets planned to be set up in India by 2025.

    The company will be opening big stores in India, starting with a store in Mumbai this year, followed by one in Bengaluru in spring-2021 and then in Delhi-NCR, Betzel said.

    However, he did not provide any timeline for the opening of the store in Delhi.

    IKEA will have its online presence in Mumbai and will also expand smaller stores category there, he added.

    When asked how the company plans to fund the expansion, Betzel said: “It will be through our own money.”

    In 2013, IKEA received nod from the government to invest Rs 10,500 crore in single-brand retail out of which it had invested Rs 4,500 crore in its different ongoing projects in India.

    IKEA has been present in India for 30 years, sourcing many different products for IKEA stores worldwide.

  • Struggling furniture retailer Otsuka Kagu forms tie-up with Yamada Denki

    Struggling furniture retailer Otsuka Kagu forms tie-up with Yamada Denki

    Struggling Japanese furniture retailer Otsuka Kagu has entered a partnership with electronics retailer Yamada Denki. The two firms have pledged to exchange sales knowledge in their respective industries as well as explore potential corporate sales opportunities. Otsuka Kagu will also sell 13.11 million new shares at ¥290.11 in an effort to raise ¥3.8 billion (US$34.39) in fresh capital. Funds will be earmarked for warehouse automation and optimising stores for e-commerce.

    Otsuka Kagu lost ¥3.24 billion ($29.32 million) last year, its third consecutive year of net losses.

    The company attracted attention over the past decade for its high-profile leadership struggle between brand founder Katsuhisa Otsuka and his eldest daughter Kumiko Otsuka, with their competing visions for the brand’s way forward.

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