luolai home textile oufits chinese beds, baths and beyond
No wonder Xue Weicheng, founder and chairman of Lorai home textiles, China\'s largest home textile manufacturer (
Bed linen, mattress, quilt and towels included)
There is reason to be optimistic.
\"We plan to make 10 billion yuan [$1. 6 billion]
\"Income by 2016,\" 54-year-
The old 31% share ownership \", our goal is to become a standard global market.
\"In the previous calendar year, Lorai achieved a net profit of $63 million with $0. 447 billion in revenue and was eligible for Forbes Asia\'s best billion-company ranking.
\"We offer different products to different customers,\" Xue said . \".
Lorai has its own ten lines, each for a specific consumer group.
Its popular brand, Lorai, caters to the needs of consumers. end customers;
St. Mark attracts urban youth
Lacasa\'s goal is third. and fourth-tier cities;
And Lorai children-
Friendly pattern including cartoon of Taiwanese picture Jimmy Liao
Popular book writers in mainland China.
Price of 4-wheel drive
Different brands range from $100 to $5,000.
\"This multi-brand strategy is scarce in the Chinese market,\" said Yang Zhaohua, chairman of the Beijing China Home Textile Association.
\"One of the advantages of Lorai is that it already has a high
Brand, so it is easier to promote other lines.
\"The company also distributes more than a dozen foreign brands, including Air Italy.
Milllefiori and British luxury goods maker
Towel producer Christy
Last year, 20% of foreign record companies came from China.
Most of Lorai\'s own-
The brand products are produced in the factory of Nantong, Jiangsu province;
Some are imported from India, Pakistan and Italy.
As an important hub of China\'s textile industry, Nantong people Xue entered the industry and sold pillowcases all over China.
In 1992, he and his younger brother, Xue Weibin, 48year-
Lao Luo came to the president, rented a unused dining hall in his hometown, embroidered the garden, and made bedding with 20 employees.
Two years later, Mr. Xue invested $300,000 to move small workshops to a decent factory and hired an advertising company for $60,000, an unusual move, plan the brand image promotion activities, including the design of new logo, the name of Huayuan lolai, etc.
Shortly after opening its first store in Nantong, Lorai\'s headquarters moved to Shanghai in 2000.
Listed on the Shenzhen Stock Exchange in 2009, it became the first listed home textile company in China.
Today, Lorai has a market value of $0. 94 billion, with 4,100 employees and 2,700 stores and counters, of which 360 were opened last year.
\"Now, we are increasing the number of outlets directly managed at the top --
\"First-tier cities,\" explains Xue.
\"As the economy slows, it\'s hard for our franchisees to keep up with the rising costs of these places, but we still need to maintain a strong presence to protect our market share.
\"This strategy is very effective for 32-year-old Li Guangliang, who is an assistant president of a publishing house and is visiting a Luo Lai store in the center of Shanghai.
\"I can\'t really tell the difference between brands, so I can only find what I can find and I can see Lorai everywhere,\" he said . \".
Chen Ginny, 26year-
I don\'t agree with Li when I am ready to study abroad.
\"Compared with other domestic brands, Lorai\'s products are more durable.
I will even take some to my new school.
\"Most of the company\'s competition comes from domestic manufacturers, and there are tens of thousands.
Having been a leader in the Chinese market for eight years, Lorai has a market share of only 5%.
The two close followers, Funa and Mendale, achieved $0. 291 billion and $0. 197 billion in sales last year, respectively.
\"In advanced economies, leaders in our industry usually have a larger share,\" Xue said . \".
\"There will be no room for so many companies in traditional sales channels, and with China\'s economic growth slowing down, a massive reshuffle is underway.
The good old days have passed.
\"Taking advantage of the new channels, Lorai has launched a brand called Lovo that specializes in e-commerce
Business in 2009.
\"This is one of the earliest online brands in China\'s home textile market,\" Ms. Xue asserted.
Other brands of Lorai are also sold online, but the price is the same as Brickand-
Thereby minimizing the impact on its franchisees.
Luo Lai is also considering expanding overseas markets through e-commerce.
\"Our own resources are limited, so we want to build partnerships with third partiesParty platform
\"It may underestimate the US market at a price of just over $100. S.
Home Textile brand Luxor treasure sheet set on Amazon. com .
The Lolay wholesale department makes room fabrics for luxury hotels and offers promotional gifts to international and domestic giants including P & G, such as towels printed with the company logo, Bank of China and China Telecom.
Employees in the United StatesS.
Xue pointed out that companies usually only wear corporate trademarks on clothing, but \"gifts are an important part of Chinese culture \".
\"Today it\'s still an emerging market, but I\'m sure the cake here will be bigger than e-commerce. commerce. Unlike e-
B2B wholesale does not affect the business of franchisees at all, so we can bring them in and use their local sales network.
\"Last year, he spent $14 million on R & D. Xue thinks Lorai is a high
Tech Enterprise: \"Most textile companies look at how to make their products look better, but we are more concerned about how to make them feel comfortable.
\"An example of his extra effort to make customers more comfortable can be found in Lorai\'s products --
Check the system.
In addition to the national standards, the company has implemented its own standards, such as specifying the allowable percentage of feathers taken out of duck velvet during use.
Xue also established a joint research institute with Dong?
In 2011, Shanghai University of China focused on new materials and sleep technology.
Earlier this year, Lorai\'s headquarters moved from downtown Shanghai to 51,000-square-
In the instrument center in the suburbs, the staff used the rare loose office agreement in China to call him Wei Cheng or David (
His English name).
One possible exception is his eldest son, the head of the company\'s department.
Lorai plans to build the largest website in Asia with the new websitestop home-
\"All the brands we sell will be displayed here,\" Xue said . \".
\"We have also added furniture and soft decorations such as lamps and photo frames to our product line.
Here, our customers will find everything they need for a sweet new home.