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Uchino Lifestyle Designing - Towel Company Uchino Co., Ltd.

Company Information

Uchino Co., Ltd. and Luolai Home Textile Co., Ltd. sign a joint venture agreement

Uchino Co., Ltd. and Luolai Home Textile Co., Ltd. sign a joint venture agreement

Mr. Xue (Chairman, Luolai Home) Mr. Uchino (President, Uchino Co., Ltd.) Signing Ceremony

Left:Mr. Xue (Chairman, Luolai Home) Mr. Uchino (President, Uchino Co., Ltd.)
Light:Signing Ceremony

Uchino Co., Ltd. and the number one bedding retailer in China, Luolai Home Textile Co., Ltd. have signed a joint venture agreement on 31 August, 2015 to collaborate business in mainland China.

The agreement will be in the form of Luolai Home purchasing shares of Uchino’s sales subsidiary in China, Shanghai Uchino Trading Co., Ltd., and forming a new joint venture company.

Uchino established its own first factory in Shanghai in 1993, and has since been devoted to developing the huge promising Chinese domestic market. In 2014, we spun off the sales company, Shanghai Uchino Trading Co., Ltd., to further strengthen our efforts. Currently we operate just under 250 stores in China. The UCHINO brand is well recognized and trusted in China, thus generating a great demand for inbound business in Japan.

 

The objective of collaboration with Luolai Home

By combining Uchino’s product development strength and Luolai’s wide and strong sales network (3,000 stores in China), we aim to dramatically increase penetration of the UCHINO brand in China. Some of the specific expectations are as follows:

① To strengthen and widen access to important and major channels such as department stores, shopping malls, e-commerce, etc. One focus is to open shops in shopping malls. We have opened a new collaboration shop (Uchino corner in Lavie Home high end new concept shop which is 1,000 sq m) in a large-scale shopping mall in Hangzhou, Zhejian Province, where UCHINO products are selling very well.

Lavie Home shop in Hangzhou, Zhejian Province Shopping mall and Uchino corner

Lavie Home shop in Hangzhou, Zhejian Province Shopping mall and Uchino corner

② To develop new products with Luolai Home, which has great expertise in the Chinese market in categories such as bath related products, lifestyle products and bedding products.

③ To develop comprehensive home related shops by integrating both business styles. The direction of Luolai Home to expand from bedding to home and Uchino’s direction to expand from bath time to loungewear for relaxing at home have matched well and we anticipate excellent synergy.

 

Uchino will seek further growth in China, one of the most important markets in the world. Uchino’s overseas business currently accounts for less than 20% of overall sales, and the strategy is to increase this to 50% by the year 2020.

 

(Reference)


Luolai Home Textile Co., Ltd. (Chinese name:羅莱家紡株式有限公司)
Description:
Listed in Shenzhen Stock, Stock Exchange(Code:002293)The largest bedding retailer in China.
Chairman/Founder:XUE WEICHENG(薛偉成)
Established:1992
Line of Business:
Main products are bedding items with own brand and internationally known brands. Selling at 3,000 stores in China. Sales in 2014 were 2,761M/RMB and profit after tax of 398M/RMB
Own Brands:Luolai, Lavie, Lovo, etc.
Other Brands:Sheridan, Zucchi, Escada, Christy, Millefiori, Schlossberg, etc.


 

Inquiries to:

Administration & Finance Division:Junichiro Otsuda
International Business Department:Richard Ikejiri
Tel:03-3661-7501 MAIL:Inquiry form