PARIS, FRANCE: Roche Bobois SA, the esteemed leader in luxury furniture and French Art de Vivre, has announced its intent to acquire a majority interest in its franchised stores across China.

This decision follows the company’s successful franchise acquisitions in the United States and France, marking a significant step in its expansion into the lucrative Chinese market, where it has maintained a presence since 2004.

The acquisition, set to commence in 2024, will see Roche Bobois SA taking a 51% stake in Shanghai Rock Castle Furniture, the entity behind the Roche Bobois franchise in China. This includes direct management of three flagship stores in Beijing and Shanghai, along with oversight of 23 franchised locations in various mid-sized cities.

The 2023 fiscal year saw the Chinese sector generate retail sales totaling €23 million, with the three major stores contributing €8 million.

The brand’s luxury positioning and embodiment of French Art de Vivre have led to exceptional profitability in the region, with Shanghai Rock Castle Furniture’s EBITDA margin surpassing that of the US/Canada region, which is currently the group’s highest EBITDA contributor.

This capital-intensive deal is anticipated to integrate the sales of three new directly-operated stores into the group’s financial statements, enhancing EBITDA through both direct retail and complementary franchise activities. The majority interest acquisition is expected to be finalized by July 2024.

In alignment with the Franco-Chinese year of cultural tourism in 2024, Roche Bobois is also forging prestigious partnerships, including a collaboration with acclaimed Chinese designer Jiang Qiong Er. The partnership will unveil an original collection inspired by Chinese art and culture, featuring seating furniture, tables, ceramics, rugs, and screens. The collection is set to debut at Milan Design Week 2024, running from April 16 to 21.

Jiang Qiong Er, a celebrated artist and entrepreneur, is known for her work that marries China’s rich cultural heritage with modern design. Her contributions to the industry have been recognized globally, with Forbes listing her among the 25 Most Influential Chinese in Global Fashion and Lifestyle in 2011. She has also been honored with the titles of “Chevalier des Arts et des Lettres de la République française” and “Chevalier de l’Ordre National du Mérite.”

Jiang’s latest project, the “Gardiens du Temps” (“Guardians of Time”) exhibition at Paris’ Musée Guimet, is set to open on April 27. The exhibition will feature monumental installations that reflect Chinese cultural symbols and mythology. Roche Bobois is proud to contribute two exclusive furniture pieces to this significant cultural event.