and out. Expansion strategy   “Our decision to enter the Korean market wasn’t made lightly. Extensive pre-pandemic research revealed a market brimming with potential,” Janice Tan, executive director of Cellini, told Inside Retail.  The expansion into South Korea was driven by several factors, including evolving tastes among consumers, affordability for aspiring homeowners, and a noticeable gap in the market. “With South Korea’s average income hovering around US$33,000 our furniture caters perfectly to the growing middle and upper-middle class seeking styling upgrades for their homes,” Tan said.  The company also identified a gap in the market, which is predominantly dominated by imports from China and Vietnam. This presented a unique opportunity for Cellini to make a mark with its offerings. “We saw an opportunity to stand out by offering unique and good quality designs created in-house, ensuring a more personalised furniture experience for our Korean customers.” According to the British Chamber of Commerce in Korea (BCCK), the country’s furnishing market value has doubled over the past five years and was projected to hit £12 billion by 2023. The market has seen major international brands, including Flying Tiger Copenhagen, Niko, H&M Home, and Zara Home bolstering their presence. BCCK said the surging demand for furniture in South Korea has been driven by several factors, including the increasing number of single households, income growth, and a new social trend of spending more time at home. Earlier this year, Swedish furniture giant Ikea announced plans to inject €300 million into South Korea over the next three years to increase its market share, underscoring the fierce competition and the lucrative opportunities the South Korean market presents.  Cultural adaptation and challenges  “One of the key challenges we face in Korea is the presence of established furniture conglomerates,” Tan said.  Besides Ikea, domestic furniture brands Hanssem and Hyundai Livart also secured a prominent position in the burgeoning market.  “To navigate this competitive environment, we plan to leverage our selling propositions – signature designs, competitive prices and quality craftsmanship,” she added.  Cellini’s South Korean launch was supported by The Enterprise Singapore (ESG).“ESG initiative played a vital role in our Korean expansion. ESG offers grants to support business development and set-up costs, and crucial guidance, helping companies like us navigate the complexities of setting up shop in a foreign country. Their office in Korea offers information and support that eases the transition and allows us to focus on establishing a strong presence in Korea,” she said.  “We recognise the importance of cultural sensitivity, and we developed a new range specifically tailored to Korean tastes and living space dimensions. Our robust R&D capabilities allow us to adapt quickly based on consumer preferences gleaned from market research. This ensures our furniture offerings resonate with Korean sensibilities,” she remarked.  The executive added while the company’s core digital marketing strategies remain consistent across regions, Cellini is strategically adapting to South Korea’s largest search engine Naver to maximise visibility and online reach among Korean consumers.  Future plans  “While South Korea marks a significant step, our global ambitions don’t stop there,” Tan said.  She also added the company’s immediate focus is on solidifying its presence in Korea while continuing to expand in existing markets, particularly Indonesia where it already established a strong foothold.  “By establishing a strong global presence, we aim to solidify our reputation as a leading force in modern furniture design,” Tan concluded.  Founded in 1986, Cellini’s furnishing products are produced in Cellini’s own factories in Malaysia and Indonesia, which according to the company allowed it to have control over the production process and the materials used.