Kingsdown expands Chinese business with new store openings
Mattress supplier Kingsdown has expanded its footprint in China with three additional stores in Beijing, as well as new outlets in Changzhou and Xianyang.
The latest openings in Beijing take the city's total to six while boosting the company’s growth objective of opening 500 branded stores across China by 2020.
The US-based company is also moving ahead with its plan to open 83 company-branded stores in 58 cities, through its ongoing licensing agreement with Asian retailer Roth Bedding Technology.
In 2015, the company entered a partnership with Roth Bedding Technology, also known as Kingsdown China, to expand Kingsdown-branded stores throughout China.
Kingsdown president and CEO Frank Hood said: "Our business in China is very strong and profitable. The Chinese consumer is attracted to our more luxurious offerings and has helped position Kingsdown at the higher end of the market in the country.
"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."
This expansion strategy is in line with the company’s US growth strategy that includes widening its reach with independent retailers.
Hood added: "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.”
Established in 1904, Kingsdown serving leading retailers across the US and more than 20 countries.
Image: Kingsdown retail location in China. Photo: courtesy of Kingsdown.