From Home Furnishing Business
Kingsdown Boosts Retail Store Count in China
Moving forward with an ambitious international expansion plan, mattress producer Kingsdown Inc. said it soon will have 83 company branded stores in 58 cities in China.
The company said it makes Kingsdown one of the largest U.S. bedding manufacturers with retail operations in China. The new stores are a result of a 2015 licensing agreement with Hong Kong-based bedding producer and retailer Roth Bedding Technology, also known as Kingsdown China.
The latest openings include three additional stores in Beijing, taking the city's total to six, and new locations in Changzhou and Xianyang. The move solidifies the companies' growth strategy to have 500 branded stores open throughout China by 2020.
The Kingsdown branded stores sell the company's popular line along with products designed and developed specifically for the Chinese marketplace, a growing market for mattresses that has registered an annual growth rate of more than 25% in the last five years, according to Kingsdown officials.
"Our business in China is very strong and profitable. The Chinese consumer is attracted to our more luxurious offerings and have helped position Kingsdown at the higher end of the market in the country," said Frank Hood, president and CEO of Kingsdown. "We continue to grow our market share with China's luxury mattress consumer through our strategic plan and partnership with Roth. We're on target with our continued expansion into this growing market."
The company's Asian expansion strategy is in tandem with Kingsdown's U.S. growth strategy that includes broadening its reach with growing, independent retailers, said Hood.
"Our dual-pronged strategy with our international and domestic growth plans is to continue to deliver great products that help our retail partners stand out in their markets and secure a strong return on their investment in Kingsdown product," he said.