Geuther enters Vietnamese kids furniture market
VOV.VN - Geuther, a German brand specialising in wooden children’s furniture and toys, recently selected Vietnam as its pioneer market in Southeast Asia.
According to information given by Grand View Research, the global size of the children furniture market was valued at US$38.82 billion in 2021, with this figure expected to expand at a compound annual growth rate (CAGR) of 18.9% moving forward to 2030.
In terms of Southeast Asia, Vietnam represents the country with the highest proportion of families with children, with 32% of them having children aged one to two years old.
Furthermore, the nation is also a potential market with the highest proportion of families with children. Indeed, 12% of families have children under one year-old and 20% of them have kids aged one to two years.
Currently, the Vietnamese middle class is rapidly growing, which can be considered a crucial factor in stimulating the domestic market to grow.
According to predictions made by World Data Lab, the Vietnamese middle class population is anticipated to rise by more than 21 million people by 2030, with this demographic having a higher demand for better-quality products.
Michel Bertsch, CEO of Geuther Vietnam, assessed that the mum and baby market is in the process of growing fast, with consumers having increasingly stringent requirements in their busy lives, adding that the local kids furniture market offers a range of options for consumers via both online and offline channels.
However, there are not many brands specializing in R&D for this industry, a factor which will create opportunities for Geuther to bring high-quality products to the Vietnamese market, Bertsch noted.
Renowned for putting safety first and following strict EU and United States safety standards, Geuther expects to woo Vietnamese consumers with a wide range of furniture and accessories made from natural materials and featuring modern designs which suit the needs and habits of children up to six years old.
Moving forward, the company hopes to expand a wealth of development opportunities and become the leading children's furniture brand throughout the region.
Since 2016, Geuther Vietnam has operated a production plant covering an area of 15,000 square metres, with the site located in the southern province of Binh Duong and employing 239 staff.
