IFU INVESTS WITH BOCONCEPT IN CHINA
IFU has invested with several retail companies in China, including Bestseller, House of Amber and Birger Christensen. Now IFU is investing with BoConcept to contribute to further growth in the Chinese market.
BoConcept, which is Denmark’s most global furniture chain and brand, has been established in the Chinese market for a number of years. The modern, functional and fully co-ordinated collection is sold from nearly 20 franchise and own stores in the largest cities in the country.
In the past year, BoConcept has intensified its strategic focus to realize the significant growth potential in the Chinese market. Therefore BoConcept has entered into collaboration with IFU, which has experience from 130 investments with Danish companies in China, and has invested with retail companies such as Bestseller, House of Amber and Birger Christensen in the Chinese market. IFU has acquired 40 per cent of the shares in BoConcept’s Chinese company.
“IFU will add financing as well as know-how and in that way contribute to ensuring the financial and organisational framework to handle the growth that we expect to experience in the years to come,” said Hans Barslund, CFO of BoConcept.
With the message ‘We make the most out of your space’, BoConcept’s global brand, concept and collection were made for an urban lifestyle and aimed at the affordable luxury segment, where focus is on design and quality, and BoConcept’s unique offer of individualism and personal interior decoration advice helps to differentiate the brand significantly in a competitive market.
“We look forward to contributing to BoConcept’s development in China, and as in our other retail investments we believe that there is potential for significant growth in the years to come,” said Catherine Isabelle Cax, Investment Director at IFU.