Ipsos Business Consulting engaged as Industry Consultant by Pacific Legend Group Limited for its listing on the Main Board of the Hong Kong Stock Exchange (stock code: 8547.HK) on Jul 18, 2018.
The group is considered an affordable luxury brand, principally operating sale and rental of home furniture and accessories, and providing project and hospitality services. The group operates a total of 11 retail stores, of which nine are in Hong Kong, and one in Mainland China and one in UAE.
Ipsos Business Consulting's IPO consulting team conducted an Independent Market Review, covering the industry development, trends and competitive landscape of the furniture retail and rental industry in Hong Kong, UAE and Mainland China. During the IPO process, Ipsos Business Consulting collaborated with the Group, IPO sponsor and its legal advisors to complete the contents of the prospectus as well as address all follow-up questions from the HKEX.
According to Ipsos Business Consulting's analysis, the sales revenue of the Hong Kong home furniture and accessories industry grew from HK$7,471.0 million in 2012 to HK$8,025.6 million in 2016, representing a CAGR of approximately 1.8%. The gross output value is projected to increase from HK$8,102.8 million in 2017 to HK$8,573.6 million in 2021, representing a CAGR of approximately 1.4%. The sales revenue of the China home furniture and accessories industry grew from RMB160.4 billion in 2012 to RMB278.1 billion in 2016, rising at a CAGR of approximately 14.7%. Over the forecast period, the industry is expected to grow from RMB299.6 billion in 2017 to RMB398.9 billion in 2021, expanding at a CAGR of approximately 7.4%. The sales revenue of the UAE home furniture and accessories industry increased from AED5,450.4 million in 2012 to AED6,484.1 million in 2016, rising at a CAGR of approximately 4.4%. The sales revenue of the industry is projected to continue to expand from AED6,745.1 million in 2017 to AED7,962.0 million in 2021, rising at a CAGR of approximately 4.2%.