On the list with SHEIN and Anker, a new cross-border e-commerce upstart emerges!

With more than 10 years of experience in the home furnishing industry , the home furnishing unicorn Homary is rapidly conquering the middle- and high-income markets in Europe and the United States, and is shining on channels such as Amazon and independent websites. At the same time, Homary has advanced from a growing star brand to one of the top 50 Chinese global brands, ranking on the same list as top cross-border brands such as SHEIN and Anker.

In the home and gardening category, Homary is not the only one that has achieved remarkable results overseas. There is also Costway, a cross-border e-commerce brand from Ningbo, which has also made it into the top 50 Chinese global brands. Worx, a home and gardening brand that jumped to 45th place on the list last year, has jumped to 24th place this year. The rapid growth of brands in the home and gardening category is undoubtedly proving the future prospects of this category.

Homery enters the top 50 Chinese global brands with SHEIN

Recently, the BrandZ China Global Brands 2023 list was released, and we can see many familiar faces, such as SHEIN, AliExpress, Anker, WORX, DJI, EcoFlow and other well-known cross-border brands. Of course, there are also some new faces on the list, such as Insta360, Roborock, etc., and Homery and Costway are the few newcomers in the home and garden category on the list.

When it comes to Homary, many people may not know much about it, but it can be regarded as an old-fashioned home furnishing brand. It launched its overseas independent website in 2012 and also settled in e-commerce platforms such as Amazon and Wayfair. Through a multi-channel model, it sells high-quality home furnishings and furniture products to Europe and the United States.

As one of the largest cross-border e-commerce platforms for household products in China, Homary has completed two rounds of financing, and its valuation has reached the standard of a quasi-unicorn enterprise. As early as last year, Homary was shortlisted for Kantar's "China Global Growth Star Brand List", and this year it entered the list of China's top 50 global brands for the first time, successfully transforming itself.

It is understood that Homary's products cover multiple categories including living room furniture, outdoor furniture, garden furniture, bathroom furniture, kitchen furniture, etc., and fashionable living room furniture and outdoor furniture series are the best-selling categories.

Homary is affiliated to Guangzhou Baomi Technology Co., Ltd., which was founded in 2018. It mainly focuses on the cross-border e-commerce field of large household items, mainly targeting young middle- and high-income groups in Europe and the United States. It is an innovative Internet company integrating product development and supply chain management. As early as May 2021, the company's team size reached more than 500 people.

At that time, the COVID-19 pandemic swept the world, and Homary, which was deeply involved in the home furnishing industry, benefited from it and delivered a brilliant answer. In 2021, Baomi Technology achieved a 300% GMV growth, and Homary's global net sales in 2022 also reached US$136.3 million.

Behind the impressive sales is the huge traffic of the website. According to similarweb data , the total number of visits to the Homary official website exceeded 10 million from March to May this year, with an average of nearly 4 million visits per month. Among them, the United States contributed the most traffic, reaching 71.7%, followed by the United Kingdom, accounting for 11.06%.

In the fiercely competitive European and American markets, Homary's ability to stand out and achieve such outstanding results is inseparable from its own efforts.

As we all know, with the fierce competition in cross-border e-commerce, furniture companies going overseas are facing more uncertainties, especially when the shipping costs of the US line soared in 2021. Some companies have been washed away by the industry, but some companies have remained standing, which has a lot to do with their own R&D capabilities. Among the top 50 global brands this year, especially those newly listed brands, they all have one thing in common, that is, they have strong R&D capabilities.

Homary is no exception. According to Baomi Technology, the company has invested more funds in the innovation and replacement of home products in recent years. Homary has its own production workshop and a dedicated R&D team. It is precisely based on this that Homary has a faster speed in launching new products.

In terms of supply chain, Baomi Technology has set up production line capacity for core suppliers to stabilize the supply chain. At the same time, the company has established exclusive cargo holds in Europe and the United States with a total area of ​​100,000 square meters, directly reaching consumers for the last mile of delivery, forming a competitive barrier.

Home and gardening brands have seen a strong surge in rankings, and the potential of this category cannot be underestimated

Another home and gardening brand on the list is Costway, owned by Ningbo Hoya Import and Export Group Co., Ltd. Its products were initially sold mainly on Amazon and eBay, and it later opened its own online store. It has now expanded to 11 countries in Europe, North America and other regions, serving more than 1 million consumers worldwide each year, making it one of the top retailers in the home category.

The strength behind Costway is also very strong. The Hoya Group, to which Costway belongs, was founded in 1998. It has set up offices in Yiwu and Shantou in China, and warehouse logistics centers in the United States and Germany. It currently has an overseas warehouse area of ​​600,000 square meters and more than 1,000 employees at home and abroad.

The company's products include not only home furnishings, but also more than 20 categories including home appliances, sports equipment, baby products, and outdoor products. Among them, sales of independent brands account for more than 95%. The company has opened up every link from product research and development, production, shipment... to after-sales and big data analysis, truly realizing the maximization of overall benefits.

Worx is a high-end brand of the Bosch Group, whose products cover professional power tools, household power tools, garden tools, and household products. Its products are mainly sold on Amazon and its own website, covering more than 70 countries and regions around the world.

Currently, the company has multiple R&D, manufacturing and marketing bases. Last year, Worx ranked 45th on this list , and this year it jumped to 24th, proving that the development momentum of this category cannot be underestimated.

Looking at these brands on the list, it is not difficult to find that they all have something in common, that is, strong R&D capabilities, which improve their ability to launch new products. In addition, many home furnishing companies pay great attention to the construction of warehousing and logistics systems, which shortens product delivery time, reduces delivery costs, improves delivery quality, solves the problem of large-scale cross-border delivery, and optimizes customers' purchasing experience.

At present, it has become a hot trend for China's large household products to be exported through cross-border e-commerce channels, and the influx of a large number of sellers has made this track more prosperous. Judging from the current search volume for the keyword "household" on Google and Amazon, its popularity has been on an upward trend.

From the perspective of industry insiders, the home furnishing category will show three major trends in the future: branding, intelligence, and customization. Consumers are becoming more and more recognized of brands, and intelligent, digital, and customizable home furnishing products are highly favored by them. Sellers who want to delve deeper into this category also need to pay special attention.

Homary

unicorn

Home Gardening