Business Intelligence on Retailing, Franchising, and Consumerism in China

Carpenter Tan To Open Outlets In Hong Kong In 2013

Chen Hanyun, financial director of Carpenter Tan Holdings Limited, revealed to Chinese local media that the company plans to open new outlets in Hong Kong in 2013.

According to Chen, during the first half of 2012, Carpenter Tan launched over 100 new retail stores in mainland China and they closed over 20 stores, realizing a net increase of 73 stores. Due to seasonal factors, the company expects to open more stores during the second half of 2012. Chen said from July to August 2012, they already achieved a net increase of 40 stores.

In addition, Carpenter Tan will not open new stores in Hong Kong in 2012, said Chen; however, the company is investigating several store locations and plans to open the new outlets in Hong Kong in 2013. Chen revealed that the company saved capital for overseas development when launching its IPO and they currently do not have financial pressure to expand into the overseas market.

Carpenter Tan is reportedly developing new products by manufacturing with recycled materials. Those materials are leftovers after making large products like flooring or furniture. By using the scraps, the company will be able to lower raw material costs. The new products will not be put into market within 2012.

Carpenter Tan Holdings Limited is a Chinese maker, distributor, and retailer of wooden products. Its major products include combs, mirrors, gift packages, and other accessories.

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