With success both at home and abroad, this cross-border giant is about to go public!

It is the end of the year again. Looking back at the IPO journey of many cross-border sellers this year, it is indeed very difficult. Even in this situation, there is still a cross-border seller who rises to the challenge and prepares to go public.

Ranked first for nine consecutive years, Linshi Wood Industry plans to go public on the A-share market

This big seller is Guangdong Lin's Home Furnishing Co., Ltd. (Lin's Wood Industry) . It is reported that Lin's Wood Industry has recently signed a listing guidance agreement with GF Securities and plans to be listed on the A-share market, and GF Securities is also one of the investors.

As one of the first Internet home furnishing brands in China, Lin's Wood has embarked on its journey since 2007, targeting young people. After years of hard work, Lin's Wood now has 661 stores around the world, covering 296 cities, 39 production bases, and more than 180 suppliers.

On October 29 this year , this fast-growing retailer completed its shareholding reform and was officially changed to "Guangdong Lin's Home Furnishing Co., Ltd." with its registered capital increased to RMB 100 million.

Online sales have always been the "highlight" of Lin's Wood Industry. It has developed both domestically and overseas. While gradually gaining a foothold in the domestic market, it has also occupied a larger market share overseas. It can be said to be a well-deserved top seller.

During this year's Tmall Double Eleven , Linshi Wood Industry achieved excellent results. The total online transaction volume exceeded 1.546 billion yuan, an increase of 27.56% compared with last year, and once again won the first place in the residential furniture industry. This is also the ninth consecutive year that Linshi Wood Industry has won the "championship".

In 2017, Linshi Wood Industry began to develop export business, and then made efforts on various cross-border e-commerce platforms. At present, it has been sold well on Amazon's US, German, UK sites and Wayfair platform, and has been favored by many foreign consumers. It is understood that this year, Linshi Wood Industry's overseas business segment sales target is to double the year-on-year sales, especially on the Amazon platform.

This Internet-based retailer also attaches great importance to offline marketing. In China, Lin's Wood Industry has adopted a new retail integrated business model of " finished products + customization + household goods " to penetrate all first-tier cities across the country. Abroad, Lin's Wood Industry has opened offline stores in Malaysia, South Korea, Singapore and other places, and provides localized services to local consumers, positioning its brand in combination with local culture and consumer preferences, and has occupied a place in many foreign countries and markets.

The outbreak of the epidemic has had a huge impact on many industries. During this period, Linshi Wood Industry went against the wind and found a new development direction smoothly and quickly. In addition to further improving the quality of products, it also made higher requirements for services.

Big data operation is the "core weapon" of Lin's Wood Industry. Through big data, it analyzes user portraits, consumer needs and other aspects, further optimizes and improves product research and development and service links, conducts in-depth research on young people aged 25-35, and uses real-time and effective user data to accumulate more domestic and foreign fans.

In fact, there are quite a few home furnishing companies in the industry seeking listing financing this year. There are currently more than 50 companies, covering multiple sub-sectors such as furniture, home furnishings, and home textiles.

However, judging from the listing process of these home furnishing companies, the road to listing was not smooth. Only a few dozen companies successfully passed the review, including other major companies that also applied for listing some time ago, but their review was once suspended.

At present, Linshi Wood Industry is ready to go public. What will be its future development like and whether the road to listing will be smooth? This is a question worth pondering. Although there are a large number of SKUs, at the same time, Linshi Wood Industry has received hundreds of complaints from customers over the years.

With 482 complaints , quality becomes a problem for Linshi Wood Industry

Relevant data shows that Lin's Wood Industry currently has more than 10,000 SKUs of products on sale throughout the year, and its ability to add new SKUs per month should not be underestimated, reaching more than 1,000. This is one of the important reasons why Lin's Wood Industry can identify customer needs the fastest and launch products within a month, resulting in continuously growing sales.

However, along with the growing sales of Linshi Wood Industry, there are also many problems about product complaints. According to multiple media reports, as early as 2019, Linshi Wood Industry had a large number of recalls due to safety hazards such as the possibility of drawers tipping over, and had been listed as a blacklist company many times.

According to incomplete statistics, the number of complaints against Lin's Wood Industry has climbed from 118 in March 2020 to 482 on November 23, 2021. The reasons for consumers' complaints are mostly about product quality, inadequate after-sales service and other issues. This has also become a major problem that Lin's Wood Industry urgently needs to solve.

So far, Linshi Wood Industry has not responded to the consumer complaints. However, for Linshi Wood Industry, which mainly relies on young people as its customer base, customer feedback undoubtedly needs to be paid attention to, otherwise it is likely to affect the company's reputation, and even worse, it may have an adverse impact on its listing. Some industry insiders said that judging from the current situation of Linshi Wood Industry, there is still a long way to go from passing the meeting to successfully listing.

At a time when products in many categories have been affected by the epidemic and other factors, the home furnishing category is very popular, which has undoubtedly made many home furnishing companies earn a lot of money, and its popularity is visible to the naked eye.

In fact, in addition to companies seeking to go public, there are also many home furnishing companies seeking financing.

Recently, Lumi United Technology, the company that owns Shenzhen Amazon smart home brand Aqara, announced that the company has completed a RMB 1 billion Series C financing led by investors such as Shenzhen Capital Group, Joy Capital and China Telecom. This round of financing will be used for product research and development and technological innovation, and to strengthen the construction of its own brand Aqara through multiple channels .

As one of the earliest companies to enter Amazon's smart home category, Aqara is a whole-house smart brand launched by Lumi United Innovation. It mainly sells smart home products such as smart switches, surveillance cameras, smart sockets, etc., and is interconnected with smart products from multiple brands such as Apple and Xiaomi. The prices of its products range from a dozen to several dozen US dollars. Its own independent stations, Walmart and other platforms are also important channels for its product sales.

It is reported that Aqara currently has more than 30 categories, with more than 500 self-developed SKUs and more than 800 patent applications. It can be said that Aqara is a brand with strong R&D support and technical genes.

For many existing cross-border e-commerce companies, improving and accelerating independent research and development capabilities has become their top priority, and Aqara, with its strong research and development capabilities as the cornerstone, will undoubtedly add a lot of points to its long-term development. As one of the hottest tracks at present, smart home has also attracted a lot of attention from capital. Sellers who are interested can pay special attention to it.

Big Sell

Cross-border

E-commerce