A Number Of Korean Giants Joined The 8.3 Miliardi di Yuan “Hansen Home Acquisition War”, Il mercato cinese è in grave declino.

Original Kitchen And Bathroom Industry Mainstream Media Kitchen And Bathroom Information

The acquisition war for Korea’s largest home furnishing company is heating up.

With the addition of Korean retail giant, Gruppo LX, the competition for the acquisition of Hanson Home is intensifying. In precedenza, I grandi magazzini Shinsegae della Corea del Sud, Hyundai Furniture (Hyundai Livart), una filiale dei grandi magazzini Hyundai, and South Korea’s Lotte announced their intention to jointly acquire Hanson with South Korea’s private equity IMM PrivateEquity (IMM). But the acquisition camp is expanding with the addition of LXHausys, un'azienda di materiali da costruzione di proprietà di LX Group (una volta parte di LG), uno dei migliori della Corea 50 gruppi aziendali.

If LX Hausys acquires Hansen, the top-ranked company in the interior design and building materials industry, the landscape of the Korean building materials and interior design industry will undergo a huge shakeup, and the market shares of the top companies will be recalculated.

According to Korean media, LX Hausys held a board meeting on September 6 and announced that it will invest 300 miliardi di won (RMB 1.7 miliardi) as a strategic investor in a private equity fund that IMM plans to set up to acquire Hanson. Tuttavia, l'investimento definitivo non è stato ancora confermato.

Lotto, Shinsegae and Hyundai Department Store Group have announced their plans to participate in the acquisition. LX Hausys is considered to have the most competitive advantage considering the synergy with Hanson’s business.

With the recent spin-off of LX Group from LG Group, its business scope has expanded from traditional construction materials to the whole house. Building materials account for about 70% di LX Hausys’ saldi, copertura delle finestre, porte, pavimentazione, pannelli, artificial marble, eccetera. The division’s sales in the second quarter of this year were KRW 659.6 miliardi, su 25% anno dopo anno. LX Hausys detiene la quota di mercato maggiore nella categoria finestre per progetti immobiliari in Corea. It also has strengths in high value-added product lines such as marble kitchen sinks and PF insulation materials.

And Hansen has an overwhelming advantage in the Korean retail market. Hansen started with kitchen furniture in 1970, then began supplying interior furniture in 1997 and has expanded its business to include building materials such as bathrooms, finestre e pavimenti. It is currently the No. 1 market player in kitchen furniture and interior furniture in Korea. I suoi principali rivenditori, quality stores and a number of stores are the most important reasons to attract the acquirer.

Secondo quanto riportato dai media coreani, Hansen has showrooms and mega experience centers in 15 key locations in the region, including Bangbae-dong, Seocho-gu, Seoul and Nunhyeon-dong, Gangnam-gu, Daegu, Pangyo-dong, and Hanam-si, Corea. They exclusively supply Hansen products and have 550 online stores for re-house remodeling business, 240 kitchen furniture stores and 80 flagship interior design stores.

Hansen employs 8,000 remodeling construction professionals and 2,500 interior design sales associates. Le vendite dell’azienda lo scorso anno (267.5 miliardi di won) più che quadruplicato rispetto all’anno precedente (65 miliardi di won), the highest performance since its founding. Il suo canale online, Hansen Mall, che fornisce informazioni sulla personalizzazione delle nuove case, moving houses, children’s rooms, eccetera., has achieved positive sales growth since the first quarter of last year. Attualmente attrae 3 milioni di clienti al mese.

Sales of its B2C (remodeling and kitchen) division increased by 23% year-on-year in 2020. Di questo, Ri-casa, which provides total remodeling solutions, è cresciuto 33.3%. As of 2020, Hansen’s kitchen sales for second-hand homes account for 27.5% delle vendite totali. Combined with 30.6 percent of online and offline sales from the sale of furniture and home furnishings, the B2C business accounted for 69.1 per cento.

Hansen’s revenue for FY2020

Kitchen and bathroom information according to public data collation

Nel secondo quarto di 2021, sales and operating profit increased 9.6 percent and 22.6 per cento, rispettivamente, compared with the prior year. Remodeling segment sales increased 24.6 percent year-over-year.

Hansen 2021 first half results

Kitchen and bathroom information according to public data collation

Nonostante la crescita dimensionale, Hansen’s overseas subsidiaries did not perform as well as expected. Sales growth at Hansen’s U.S. and China subsidiaries has also slowed each year for the past three years. L'anno scorso, sales at the two subsidiaries declined 10.2 percent and 3.9 per cento, rispettivamente, while the China subsidiary experienced a double-digit decline. The decline also continued in the first and second quarters of this year with negative growth of 17.3 percent and 45.7 per cento.

Hansen has been in China since the early 1990s. In 1995, it set up Beijing Hansen Home Products Co., Ltd. in Beijing and invested in a cabinet production plant to undertake engineering business, and joint with the head of the pan-home industry to develop some engineering projects.

Kitchen and bathroom information query enterprise search found that the shareholders of Beijing Hansen Home Products Co., Ltd. Hansen (Cina) Investment Co., Ltd. increased its registered capital in 2020, but this year Beijing Hansen Home Products Co., Ltd. in February legal representative, direttori, shareholders and other members of the successive changes.

It is worth noting that earlier this year there were media reports that most of the Korean executives of Hanson Korea stationed in China have been withdrawn one after another at the end of 2018 e presto 2019. Some of the Chinese employees in China are looking for their next homes, and some have even found their next homes, pending only the arrival of significant layoff compensation.

L'accordo precedentemente annunciato per IMM per l'acquisizione di a 30.21% secondo quanto riferito, la quota e i diritti di gestione valgono 1.5 trilioni di won (RMB 8.3 miliardi).

IMM esaminerà Lotte e LX Hausys’ investments and identify partners as early as mid-September. Attualmente, Lotte ha annunciato ufficialmente che lo è “considerando la partecipazione” e LX Hausys ha annunciato che investirà 300 billion won as a strategic investment. After the acquisition of Hanson is completed, IMM prevede di trasformarlo nel più grande operatore nel mercato domestico interno online e offline.