Sweden-based Hemtex considers branching out in China
Source: Fibre2fashion News Desk - India Date: 2010-09-25
Hemtex, a Sweden based home textile retail chain, recently formally inaugurated its purchasing office in Shanghai’s Pudong New Area.
The company having 189 outlets across the world, including 143 in Sweden, is now considering its future prospects with regards to the possibilities of branching out in China, mainly in Shanghai.
Erik Gumabon, CEO of Hemtex AB, while referring to Chinese markets as incredible said that, they view ample opportunities there, and are thus surveying the prospects of opening more number of outlets.
Chief Financial Officer Ulf Segerstrom, Chief Buying Officer Niklas Odequist and Peter Tan, Country Manager of Hemtex (Shanghai) Co. also were present at the inaugural function.
Hemtex works on the business idea of offering value-added home textiles and accessories-related items at a reasonable price, thus alluring a large number of consumers.
Except for the recently launched purchasing office, the company does not possess any other outlet in Asia right now, but as the Chinese markets are developing at a greater pace over the last 10 years, the company visualises higher growth prospective here.
