Nome Sweden revealed massive expansion plan in China
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Swedish designer brand Nome has launched a new store at Guangzhou Baiyun Wanda. The brand plans to open more than 300 stores in China’s most central shopping centres within a year, with a projected total turnover of more than RMB2 billion (US$290.6 million).
In the next three to five years, Nome plans more than 2000 stores in China and in excess of 1000 stores overseas. The global business scale is planned to reach RMB50 billion ($7.265 billion), creating a global brand of home furnishing.
To mark the Guangzhou launch, the brand installed a modernised version of a traditional Guangzhou postal kiosk outside the store. The reimagined newsstand featured a translucent shell emanating blue and white lights to evoke a Nordic style, perceived by the brand as having become more popular amongst Chinese consumers in recent years.
Swedish designer brand Nome covers 10 categories and more than 3000 SKUs in store, including lifestyle, home, furniture, clothing, digital, beauty, food, shoes, luggage and travel items.
Questions & Answers
Q.What is the projected total turnover for Nome's initial expansion phase in China?
What is the projected total turnover for Nome's initial expansion phase in China?
Nome projects a total turnover of more than RMB2 billion (US$290.6 million) from opening over 300 stores in China's central shopping centres within the next year.
Q.How many stores does Nome plan to open in China and overseas in the medium term?
How many stores does Nome plan to open in China and overseas in the medium term?
Within the next three to five years, Nome plans to open more than 2000 stores in China and over 1000 stores in other international markets.
Q.What is Nome's long-term financial goal for its global business operations?
What is Nome's long-term financial goal for its global business operations?
The brand aims for its global business scale to reach RMB50 billion ($7.265 billion), intending to establish itself as a global home furnishing brand.
Q.Which product categories does the Nome brand offer in its stores?
Which product categories does the Nome brand offer in its stores?
Nome stores offer items across 10 categories, including lifestyle, home, furniture, clothing, digital, beauty, food, shoes, luggage, and travel goods, with over 3000 SKUs.
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Nome's aggressive expansion:
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