Private equity firm L Catterton allocates funds in Seki Furniture, riding the wave of growth in Japan's furniture sector.
Seki Furniture Partners with Global Consumer-Focused Private Equity Firm L Catterton
Seki Furniture, Japan's largest wholesale supplier of home furniture, has announced a strategic investment from L Catterton, a global consumer-focused private equity firm that manages $38bn in equity capital.
The partnership reinforces L Catterton's position as a leading player in the home and furniture sector, having previously partnered with companies like Restoration Hardware and Boll & Branch.
Hideki Haruta, CEO of Seki Furniture, expressed excitement about the partnership, stating that it will contribute to the company's medium- to long-term growth and value creation. Haruta, a 27-year company veteran, has been leading the company alongside the Seki Family.
Seki Furniture operates 26 physical stores, sells through e-commerce platforms, and serves a growing base of corporate clients in sectors including hospitality, offices, and healthcare. The company holds the largest share of Japan's wholesale residential furniture market.
The investment aims to leverage L Catterton's consumer-sector expertise to support Seki's expansion across retail and commercial channels. Taka Shimizu, Partner at L Catterton, expressed excitement about being part of Seki Furniture's growth, praising the company's resilience and strategic expansion.
The furniture industry in Japan is experiencing steady growth due to factors like urbanization, new household formation, and demand for commercial furnishings. Seki Furniture has successfully expanded into multiple product and customer segments, and with L Catterton's support, is expected to continue this growth.
Seki Furniture will work with L Catterton to enhance its corporate value and continue to deliver lasting value to its customers. The partnership is expected to support Seki's expansion across retail and commercial channels, contributing to its next chapter of growth and value creation.
Founded in 1968, Seki Furniture has evolved into an omnichannel business with brands like RELAXFORM and CRASH GATE. The main figure of the founding family company is not publicly specified in available sources.
The partnership between Seki Furniture and L Catterton is not mentioned to have any specific terms or conditions. It is noteworthy that the investment does not have a specific impact on the furniture stores industry in Japan, but the industry is experiencing steady growth due to the factors mentioned above.
In conclusion, the partnership between Seki Furniture and L Catterton is expected to be a significant step forward for Seki Furniture, providing the company with the resources and expertise necessary to continue its growth and expansion in the Japanese furniture market.
