Swedish home textile retailer chain Hemtex yesterday officially launched its purchasing office in the Pudong New Area in Shanghai.
With a total of 189 stores, of which 143 are in Sweden, the firm is currently looking at the future with the Hemtex AB Board assessing the viability of expanding into the Chinese market, particularly in Shanghai.
“The Chinese market is fantastic and has a huge opportunity for us. We are definitely looking into possibilities to open stores in the country,” said Erik Gumabon, CEO of Hemtex AB.
Other company officials present at the ceremony included Chief Financial Officer Ulf Segerstrom, Chief Buying Officer Niklas Odequist and Peter Tan, country manager of Hemtex (Shanghai) Co.
Hemtex’s business concept is to sell affordable value-added home textiles and accessories-related products that appeal to a broader range of customers.
“There is much more focus on customers since I took up the position (of CEO) at the end of last year, and we have also made changes to improve our product range and assortment and to make our stores more attractive to customers,” Gumabon said.
The company does not have any other stores in Asia yet but the rapid market development in China in the past 10 years has offered growing opportunities here.
“We need to think it through properly and make the right moves,” Gumabon added.