HomeKoo, a Chinese customized furniture manufacturer backed by Shenzhen Fortune Capital, has obtained regulatory approval to list on ChiNext, the NASDAQ-style bourse of the Shenzhen Stock Exchange.
No financial details of the listing have been determined.
Fortune Capital invested RMB70 million (US$10.2 million) in HomeKoo back in 2009 to help the company expand.
Operating under Guangzhou Shangpin Zhaipei, the company makes furniture customized to meet the needs of urban Chinese consumers. Since most Chinese city dwellers live in small apartments, customized furniture allows for better space utilization at a relatively low cost. HomeKoo markets its products via franchised brick-and-mortar stores across the country and an online e-commerce platform HomeKoo.com.
HomeKoo says it has incorporated online design services, virtual reality and mobile Internet technology in its manufacturing process to allow large scale customization.
At the time of Fortune Capital’s investment, customized furniture took a 10% stake in the overall furniture market in China, and was growing at 20% annually, according to Chinese media reports.
An Example Of HomeKoo’s Products