High-end showroom opens-A A +A
Friday, October 12, 2012
AN exclusive Philippine distributor of high-end home furnishings has opened its showroom in Cebu, signifying its optimism in Cebu’s growing economy and Cebuano’s sophisticated lifestyle.
“Our investment in this new showroom demonstrates our confidence in the Cebu market and our commitment to ensure that our clients in Cebu and nearby cities will have the best support accessible to them,” said Focus Global Inc. president Stephen Sy on Thursday.
He said their presence in Cebu will enable them to deliver an even better buying and after-sales experience for their existing Cebu clientele.
Focus Global carries top home furnishing brands like German-made SieMatic for kitchen cabinets; Miele, also from Germany, for home appliances; US brands Sub-Zero and Wolf for built-in refrigeration and cooking equipment; InSinkErator for food disposers; and Tempur, Denmark-made mattresses and pillows.
Focus Global showroom is located in the newly-opened Design Center of Cebu on P. Remedios St. and A.S. Fortuna in Mandaue City.
According to Sy, aside from the company’s existing clients who prefer high-end brands for home furnishings, another segment of their business’ market consists of high-end residential and condominium developments in the country.
“The growing condo market in the Philippines is starting to become attractive for us,” said Volker Betsch, managing director of SieMatic.
Betsch noted since they have focused their attention on Asian markets, their business grew five times in the last 10 years.
“We are looking at Asia as a market for the company to grow in the future,” said Betsch, identifying China as one of the fastest growing markets in Asia so far, due to its consumer size.
An industry report said China is projected to become the second biggest luxury market by 2017 after United States, overtaking France, Britain, Italy and Japan.
The Euromonitor said home furnishings market had a very tough time during the recession; however, it recovered in recent years, led by emerging markets like China and Indonesia.
Cruz del Barrio, global head of Home and Garden Research at Euromonitor, said China and Indonesia’s rapidly growing urban populations, generally getting wealthier, are willing to spend more on home improvement and home furnishings.
Although consumer spending in emerging markets has improved, del Barrio also noted that developed countries have remained the largest spenders in the sector despite their weak labor market and tough government austerity measures.
Aside from the high-end real estate developments, Betsch also pointed out the “change of culture” as among the factors that helped high-end brands in home furnishing stay resilient despite troubles in the global economy.
“The market is changing now, even in Asia. Before, nobody eats at home, but now people want to stay at home and eat together,” said Betsch. “This change of culture has helped us increase sales in the business.”
Focus Global was established in 1991 in Manila. The company has three divisions: consumer goods, home furnishings, and needlecraft.
Published in the Sun.Star Cebu newspaper on October 13, 2012.