Kingsdown China aims for 500 stores
US mattress supplier Kingsdown is expanding its retail store network in the mainland, in partnership with Hong Kong-based partner Roth Bedding Technology.
The joint venture, trading as Kingsdown China, says it now has 83 company-branded stores in 58 Chinese cities, making it one of the largest US bedding companies with retail operations in China. Its long-term goal is to have 500 stores by 2020.
Kingsdown and Roth joined forces in 2015, and since then, the partnership has continued to expand the China store network. The latest openings include three more stores in Beijing, taking the city’s total to six, and new locations in Changzhou and Xianyang.
Kingsdown says it wants to capitalise on an appetite for the American brand in the mainland, trading on the name’s history of luxurious style and handcraftsmanship. 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 with an annual growth rate of more than 25 per cent in the last five years.
“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.”
Kingsdown, founded in 1904 and headquartered in Mebane, North Carolina, is a manufacturer of premium mattress systems serving leading retailers across the US and more than 20 countries. International offices are located in Tokyo, Japan and Melbourne, Australia.