The Era of 200 Million Won Tables and 40 Million Won Beds

"Increase in Premium Furniture and Interior Demand Centered on Young Generation in Their 30s and 40s"

Riva1920 'Kauri' Cube. A table made of Kauri solid wood, sold for around 200 million KRW.
[Photo by Ace Bed]

[Asia Economy Reporter Kim Jong-hwa] A 200 million won table, a 40 million won bed, a 10 million won dressing table. As consumers purchasing ultra-high-end furniture exceeding one to two years' salary of office workers increase, the premium furniture market is enjoying its heyday.

According to the furniture industry on the 14th, major domestic furniture companies such as Shinsegae Casa, Hyundai Livart, Hanssem, Ace Bed, and Simmons are importing famous overseas brands to target the tastes of domestic consumers, expanding the ultra-high-end premium furniture market.

The representative product of Carpe Diem Bed, the 'Continental Bed', sold at around 40 million KRW.
[Photo by Shinsegae Casa]

◆Popular '40 million won bed, 34 million won chair' = Shinsegae Casa introduced the Swedish luxury bed brand 'Carpe Diem Beds' to Korea for the first time in Asia last May. Its flagship product, the 'Continental Bed,' is sold at around 40 million won. Carpe Diem Beds, handcrafted by skilled artisans dedicated to each product, saw sales increase by more than 500% within just two months of launch, establishing itself in the domestic luxury bed market.

Shinsegae Casa has increased sales by importing global brand furniture such as the French premium furniture collection 'La Maison,' the carefully selected overseas collection 'Casamia Select,' and the Spanish furniture brand 'M114,' satisfying discerning consumers' tastes. As of September, sales of these select collections within Shinsegae Casa's premium product line grew 175% year-on-year.

Georgetti's rocking chair 'Move' is sold for around 34 million won.
[Photo by Hyundai Livart]

Hyundai Livart made headlines in August by introducing the Italian furniture brand 'Giorgetti,' known as the 'Herm?s of furniture.' Giorgetti handles all processes from design to production in Italy and is known as an ultra-high-end luxury brand favored by royal families and celebrities worldwide, with prices starting at 15 million won. The rocking chair 'Move' is priced around 34 million won, yet consultations and orders remain steady.

In 2017, Hyundai Livart was the first in Korea to introduce 'Williams Sonoma,' North America's largest premium home furnishing brand, and operates both online and offline stores for four brands including New York-style home furnishing brands 'West Elm,' 'Pottery Barn,' and 'Pottery Barn Kids,' focusing on brand premiumization.

Riva1920's solid wood dressing table 'Fly Vanity'. It is sold at around 11 million KRW.
[Photo by Ace Bed]

◆A 200 million won table and a 10 million won dressing table are no big deal = Ace Bed, the number one in the bed industry, showcases famous Italian furniture brands such as Riva 1920, Arflex, Riva, Porada, and Baxter through its new concept furniture store 'Ace Avenue,' where art and furniture can be experienced simultaneously.

Riva 1920's luxury table 'Kauri' is traded at a minimum of 200 million won. The Kauri is made from rare wood buried in the wetlands of New Zealand's North Island for 40,000 to 50,000 years, weighing about 200 to 300 tons, making it the heaviest and largest wood in the world. Containing resin components, it features a unique golden wave pattern, attracting a dedicated fan base. The solid wood dressing table 'Fly Vanity,' sold at around 11 million won (7,055 euros), and Baxter's 'Chestermoon' sofa, priced around 30 million won, are also popular products.

Ace Avenue attracts about 1,500 visitors monthly on average. As of September, sales increased by 25% year-on-year. An Ace Bed official said, "Ace Avenue only showcases brands verified through the world's largest furniture industry exhibition, the 'Milan Furniture Fair.' Brands like Baxter, Arflex, Porada, and Riva 1920 have their own heritage and philosophy regarding the materials they use, which aligns with Ace Bed's quality management philosophy."

Exhibition space of the high-end store 'Nexus Flagship Seoul'.
[Photo by Hanssem]

◆100 million won kitchen cabinets and 1.2 billion won interior consultations line up = The number of consumers commissioning top-tier interior remodeling has also increased. 'Real House,' a service exclusive to 'Nexus,' Hanssem's subsidiary and high-end product specialty store, recreates an 80-pyeong (approx. 265 sqm) penthouse as an actual living space. All furniture and building materials inside are from the world's top luxury brands, and the remaining space is decorated with natural materials and artworks, costing 1.2 billion won.

The kitchen interior set (including sink cabinets and hoods) installed in houses and apartments over 80 pyeong, made by 'Dada,' one of the world's top three kitchen brands, costs over 100 million won to install, but customers line up for consultations. A Hanssem official said, "Real House is used as a space to gain ideas for premium interiors. As interest in Real House grows, demand for premium brand kitchens has increased significantly, causing longer installation times." In fact, Nexus Flagship Seoul's sales in the third quarter of this year rose about 40% compared to the same period last year.

An industry insider said, "Domestic consumers are looking for products that go beyond the basic functions of furniture?sitting, lying down, and storage?to those imbued with philosophy and design," and predicted, "Demand for premium furniture and interiors will steadily increase, especially among young consumers in their 30s and 40s."

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