Hanssem announces flagship store in ShanghaiHanssem, an interior and lifestyle company, said Monday it will open its first Chinese branch in Shanghai this week to compete in the 740 trillion won ($656 billion) market.
The two-story Hanssem Shanghai Flagship Store will open Tuesday in Changning District. The store will cover some 13,000 square meters (140,000 square feet), twice as big as the company’s flagship in Korea, and aims to offer one-stop shopping for products ranging from interior renovations to furniture and home accessories, the company said.
China’s home interior market is already huge and is growing rapidly, and there is heavy competition from global names like IKEA and Nitori.
Company officials said Hanssem will distinguish itself from its rivals by operating model houses that recommend lifestyles that fit the needs of families at different times in their lives, such as their career or age of their children. It will also have an online shopping mall, Hanssem Mall, that offers a diverse range of products and services.
“China’s unlimited growth potential makes the country a required path of entry for Hanssem to become a global company,” said Kang Seung-soo, vice chairman of Hanssem. “We will lay the base for a global Hanssem within two years.”