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Team Furn’s Zedere Opens Store In Beijing In Joint Venture With Aris

THAILAND: Thai furniture manufacturer and exporter TeamFurn Co. revealed the opening of its first Zedere furniture store in Beijing in a joint venture with China’s Aris. The companies invested around USD346,436 to set up the 90-square-meter furniture store.

According to The Nation, under this partnership, three more branches is expected to open in Beijing and two in Shanghai by the end of 2016 with a target total revenue of USD8.3 million from the Zedere stores in China. TeamFurn expects around 20 operating Zedere stores in China by 2017.

According to Naithada Nunwitoon, a member of TeamFurn’s board, Zedere furniture are exported to 23 countries, with Australia as their biggest market at USD1.4 in annual export value, followed by Japan at USD1 million.

Zedere experienced a 90 percent growth this year despite the slow global economy. According to the company, this is due to consumer’s recognition of Zedere’s high quality products and services.

“China is generating high demand, because [many] Chinese people are getting wealthy. They choose furniture according to what they like and not by brand. This means a good business opportunity for Zedere to expand its business in China. So we decided to cooperate with Aris (China), a top-five furniture retailer, to open a Zedere furniture store in Beijing at the cost of USD346, 436.” said Naithada.