Otsuka Kagu to Tie Up with Major Chinese Furniture Retailer
Tokyo, Dec. 21 (Jiji Press)--Japanese furniture retailer Otsuka Kagu Ltd. <8186> said Friday that it will tie up with Beijing Easyhome Yundi Huixin Retail Chain Co. for its advance into the Chinese market.
The two companies will discuss plans, including the launch of Otsuka Kagu brand outlets in China and sales of luxury Chinese furniture in Japan through the Japanese company.
"The tie-up is a major first step for us to expand our overseas sales channels," Otsuka Kagu President Kumiko Otsuka said.
Struggling Otsuka Kagu will also consider receiving capital from the Chinese firm in a bid to improve its financial health.
Beijing Easyhome, which has a capital alliance with Chinese e-commerce giant Alibaba, operates more than 200 outlets in China.
[Copyright The Jiji Press, Ltd.]