Hyundai Livart Accelerates Targeting of Small and Medium-Sized Office Furniture Market

SOHO-Type Office Furniture 'Livart Haum' Online Mall Opens

Hyundai Livart 'Livart Haum'

[Asia Economy Reporter Kim Cheol-hyun] Hyundai Livart is accelerating its attack on the small and medium-sized office furniture market with 'Livart Haum.' 'Livart Haum' is a brand introduced by Hyundai Livart in 2015 targeting the small and medium-sized office furniture market, characterized by sales prices approximately 50-70% lower than the premium office furniture brand 'Livart Office.' Through this, Hyundai Livart plans to expand its scale by broadening its business-to-business (B2B) sales network and simultaneously conducting business-to-consumer (B2C) sales online and to general consumers.

Hyundai Livart announced on the 9th that it will officially start B2C sales beginning with the opening of the 'Livart Haum' exclusive online mall at the end of this month. The Livart Haum exclusive online mall will sell all 500 products of Livart Haum, including desks, storage cabinets, and lounge sofas. Along with the online mall opening, the sales method will also change. In addition to the existing store-centered sales, sales through showrooms (exhibition spaces) like home furniture will be conducted simultaneously. To this end, the proportion of 'Livart Haum' products displayed at four nationwide Livart Office direct exhibition halls in Seoul Songpa, Gyeonggi Yongin, Daejeon, and Busan will be expanded to over 50%, and a 'single-person office showroom' targeting sole proprietors and individual customers will also be established.

So far, Hyundai Livart has focused on expanding the B2B sales network by targeting startups, which are newly established venture companies, as the main target group for Livart Haum. The number of stores, which was about 100 at the time of launch in 2015, now reaches about 350. The active approach to the small and medium-sized office furniture market is because, while the domestic office furniture market has been stagnant for several years, the demand for small and medium-sized office furniture continues to increase due to the rise in youth entrepreneurship. Last year, Hyundai Livart's overall office furniture sales growth rate was 14%, but 'Livart Haum' showed a growth rate of nearly double that at 27%.

Park Hyung-il, head of Hyundai Livart's Office Business Division, said, "Through aggressive business expansion, we expect Livart Haum's sales this year to achieve 25 billion KRW, an increase of more than 60% compared to last year." He added, "Through this, next year's total office furniture sales will also grow from the current 80 billion KRW range to over 100 billion KRW."

This content was produced with the assistance of AI translation services.