After challenging years marked by an economic slowdown, the world's furniture industry is hoping for a turnaround.
Norway's largest furniture producer Ekornes - which produces one of the world's most-sold chairs - is expecting its top-line turnover to increase by 40 percent in the next four years, thanks to Chinese customers.
"We have very strong relationships with many dealers in China and now we also see that the opportunity is greater beyond what we've been able to do so far," Ekornes CEO Tine Hammernes Leopold tells CGTN.
Given the global economic slump, it's increasingly challenging to sustain high manufacturing costs in Norway. During the COVID pandemic, lots of people redecorated their homes... but then furniture sales went down and are only slowly starting to pick up.
Ekornes is showcasing at this year's China International Import Expo (CIIE) in Shanghai and is hopeful Chinese customers will help increase sales. The seventh CIIE is one of the largest and most influential trade events of 2024 and will feature exhibitors from over 150 countries and regions.
China could soon become Ekornes' number one market - which doesn't come as a surprise since the company was bought by the Chinese Qumei group six years ago.
"The chairman of the Qumei group has a very good eye for quality furniture and we feel very strong support in our development," says Hammernes Leopold.
Headquartered in Sykkylven, Norway, Ekornes employs roughly 2,600 people under the Ekornes, Stressless, Svane and IMG brands and operates production facilities in Norway, the USA, Thailand and Lithuania.
While Scandinavian furniture exports are much smaller than China's, the sleek and timeless designs from countries like Denmark and Norway have earned a strong reputation worldwide.
Meanwhile, Ekornes is modernizing parts of its 'Stressless' product line, focusing less on leather. "We see a strong trend in moving more towards textiles, particularly for sofas," Hammernes Leopold adds.
It's all part of future-proofing furniture – a process that continues at CIIE.