Private equity firm L Catterton pumps funds into Seki Furniture, riding the surge in Japan's furniture industry
The Japanese furniture industry is on an upward trajectory, driven by factors such as urbanization, new household formation, and the increasing demand for commercial furnishings. Among the key players in this thriving market is Seki Furniture, a company that has grown from humble beginnings in 1968 to become a formidable force in the industry.
Seki Furniture, known for its brands like RELAXFORM and CRASH GATE, has evolved into an omnichannel business, operating 26 physical stores, selling through e-commerce platforms, and serving a diverse range of corporate clients in sectors including hospitality, offices, and healthcare. The company holds the largest share of Japan's wholesale residential furniture market.
In a significant move, L Catterton, a global private equity firm with a strong track record of investments in the consumer industry, has entered into a strategic investment agreement with Seki Furniture. This partnership aims to achieve further growth and enhance corporate value for Seki Furniture.
Taka Shimizu, Partner at L Catterton, expressed his enthusiasm about being part of Seki Furniture's growth, noting the company's success across multiple product and customer segments. He also highlighted L Catterton's consumer-sector expertise, which will be leveraged to support Seki's expansion across retail and commercial channels.
Seki Furniture has been led by the Seki Family and Hideki Haruta, a 27-year company veteran, who has steered the company through several macroeconomic cycles. Hideki Haruta, the CEO of Seki Furniture, expressed his excitement about partnering with L Catterton for medium- to long-term growth and value enhancement. He also assured that Seki Furniture will continue to provide services and products that deliver lasting value to its consumers.
The investment by L Catterton reinforces its position as a leading global consumer-focused private equity firm, managing around $38bn in equity capital. This partnership marks a new chapter in Seki Furniture's growth and development, as they look forward to working closely with L Catterton to create value for their consumers.
It's worth mentioning that L Catterton has extensive experience in the home and furnishing sector, having partnered with renowned brands such as Restoration Hardware and Boll & Branch.
For further news inquiries, please contact the respective companies directly.
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