In assessing the potential market size, we developed another model using the home purchases, their frequency and the relative spend per home to estimated the market. The methodology adopted for this model is based on an tested assumption that 5% of all property sold in China is ‘high end’ which means that it is at a price point where the owner could afford to purchase premium to high-end modern European furniture. Considering the factors such as furnishing rates of new property, property occupancy rates, the preference for modern European furniture by consumers and correcting for the increased spending power of Chinese affluent consumers etc our two estimates delivered almost the same figures. ….

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