Overall kitchen sales rise , German brand Siematic layout in the Chinese market
Cologne strategic consulting firm predicts that by 2030, China's overall embedded kitchen sales will rise from the current 2 million to 8 million units, but the competition will become increasingly fierce.
Now, some of the domestic and foreign enterprises that have spotted this market have begun to lay their own hands. Last month, the German "Law Journal" reported on October 6 that Siematic, a German manufacturer of high-end kitchen equipment, sold a majority stake in Suzhou Nison Group in China to open up the Chinese market.
Siecman, general manager of Siematic and third-generation family representative Ulrich Siekmann, said that the company was profitable both last year and this year and selling the company's shares was a purely strategic consideration with the intention of using Nison to explore the Chinese market.
At present, the Chinese market accounts for only 4% of Siemat's annual sales of about 100 million euros. In the future, Siematic will consider the sale of embedded kitchens in China, which is already preparing to open its first showroom near Shanghai.
It is reported that Ulrich Siekmann and his sister still hold a minority stake, and will continue to manage the company, production will also stay in Germany.