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Markor Furnishings to expand in China

Published: 25 May 2009 21:36:53 PST

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May. 26, 2009 (China Knowledge) - Markor Furnishings Co Ltd, furniture chain store arm of Markor International Furniture Co Ltd<600337>, announced that it would continue to expand in China this year, the Shanghai Daily reported.

Despite the sluggish property market in China, Markor Furnishings plans to open five to seven franchised furniture stores across the country in 2009.

In fact, the company is making efforts to provide design services to high-end customers in the next three years and hopes to differentiate its stores by offering tailored services.

Louis Liu, advertising manager at Markor Furnishing, said the company plans to switch itself to a design-focus company before 2011 by providing complete design solutions tailored for customers and not offering single products. He explained that Chinese customers will prefer all-round service for better home decoration when life improves.

Meanwhile, Markor Furnishing plans to launch a new production line in September and will open accessory stores around November, targeting at younger consumers.

In order to collect funds for its business development, Markor Furnishings was provided by its parent firm with a guarantee worth RMB 90 million, according to Markor International Furniture's filing with the Shanghai Stock Exchange (SSE) last week.

Currently, Markor Furnishings has nearly 30 stores in Chinese cities, such as Beijing, Shanghai, Tianjin and Chongqing.

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