Qumei Home said that 2018 is a key period for continuously promoting the "New Qumei" strategy, deepening internal reforms and promoting digital management upgrades. However, from the financial report of the first half of 2018 that Qumei just handed over, the net profit fell by 33.33% compared with the same period of last year. It seems that the results are not satisfactory. Moreover, from the overall data growth of Qumei in the past two years, although the revenue amount has maintained a small increase, the year-on-year growth of revenue has been flat, and the net profit has been declining year by year.
Qumei Home said in the discussion and analysis of its operation situation that since the second half of 2017, the prosperity of the industry has declined. On the one hand, affected by the national macro-control policies, the real estate market has entered a downward cycle, and the demand for furniture market has increased. On the other hand, as more and more furniture companies land in the capital market, competitors have increased the promotion of retail terminals and accelerated the expansion of channels, and the competition in the furniture industry has become increasingly fierce. This may be one of the reasons for the new strategy of Qumei Home.
In June of this year, Qumei Home spent 4 billion rmb to acquire the Norwegian brand Ekornes. As the largest overseas M&A case in the industry, is there any doubt that Qumei Home has enough strength to introduce foreign brands into China?
(Source: JJgle.com)
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