Private equity firm Warburg Pincus is in advanced talks for acquiring a major stake in Chinese retailer Red Star Furniture Group, reports quoting sources close to the deal said.

Warburg Pincus expects to acquire a little less than 50 per cent stake in Red Star even as China’s fast-growing home furnishing market draws increasing foreign interest.

The Shanghai-based Red Star is privately owned and operates 33 outlets, mostly in the affluent east coast. It sells furniture and home furnishings, targeting mostly to homeowners who are spending heavily on decorating newly purchased apartments. Read more »

Terra Furniture has appointed the team of Benner-O’Meara to handle all of its sales for the Southern California patio dealer market.

“John Benner and Ron O’Meara have a strong understanding of the outdoor furnishing marketplace and are highly respected in their field,” Terra President Ken Burrows said. “Terra is proud to add them to our sales team.”

Benner can be reached by calling 949-709-8657 or via e-mail at john@benneromeara.com. O’Meara can be reached at 310-314-0059 or by e-mail at ron@benneromeara.com.

C.R. Laine Furniture Company, Inc. is teaming with fashion icon Jessica McClintock on a new, licensed collection of upholstered furniture to debut at the April High Point market.

Jessica McClintock Home is already well established in casegoods from American Drew and Lea Industries, with coordinate lighting from Minka, and area rugs from Loloi to be introduced this coming spring. As with all the products that comprise Jessica McClintock Home, the collection with C.R. Laine derives its inspiration from Jessica’s well photographed home, her travels, her lifestyle and her love of life.

When asked about her new collection, Jessica McClintock said, “I simply love the blending of color, pattern and texture. I do this just about every day in fashion and have for the last 30 years. And in working with furniture, I feel that every room is like a jewel box, and when designing furniture, each piece should be treated as a jewel.” Read more »

High Point University Evening Degree Program student Megan Farlow received the Rose Furniture Company Scholarship on Saturday, Feb. 25.

Farlow is in her last semester of the home furnishing marketing program. While enrolled in EDP, she has picked up extra interior design day classes to enhance her knowledge base. She is employed with Klaussner Furniture Company in Asheboro where she recently received a promotion as a direct result of her work toward her bachelor’s degree. Read more »

Research and Markets has announced the addition of The Furniture Industry in China and Hong Kong to their offering.

This report offers a comprehensive picture of the furniture sector in China and Hong Kong, providing trends in furniture production and consumption, furniture imports and exports, prices. Factors determining the demand for furniture are examined, as well as furniture distribution and furniture supply structure.

Chinese furniture production, consumption, imports, exports are broken down by product (upholstered furniture, bedrooms, kitchen furniture, other household furniture),

The Chinese furniture supply structure is analysed, with data on employment and major furniture production poles. Short profiles are provided for the main Chinese furniture manufacturers of office furniture and household furniture (upholstery, bedrooms, kitchens) with turnover, employees, market shares, product mix.

The analysis of furniture distribution channels covers: department stores, large specialist outlets, specialty stores, franchising, direct sales. The report also provides a profile of the Chinese consumer and an analysis of furniture retail prices for both household furniture (upholstery, bathroom furniture, dining rooms, bedding, kitchens) and office furniture.

Chinese and Hong Kong furniture imports and exports are broken down by country and product (office furniture, kitchen furniture, upholstered furniture, non-upholstered seats, bedroom furniture, seats parts and parts of furniture).

The wood and forestry sector is also considered: imports and exports data are provided for the main semi-finished wood products (sawnwood; wood-based panels: plywood, veneer sheets, particle board panels, fibreboard panels, MDF). Woodworking machinery imports and exports from the main partner countries are included. Read more »