#Power of Businesses l 2020-06-22
Today, we’re going to introduce you to iloom, a furniture maker that creates new value by connecting people with space. Let’s hear from Kim Tae-eun(김태은), head of the Business Planning Team at the company.
Iloom is a home furnishing unit of Fursys Group. Over the last 20 years since its establishment, the company has been devoted to producing furniture that would create new value in people’s living space and improve their quality of life. It had adopted new concepts that had never existed before and made creative products to appeal to customers. It is now recognized as an industry leader that pursues a smart and innovative lifestyle.
Until the mid-1980s, there was no office furniture brand in South Korea. It was the furniture maker Fursys that first introduced a line of office furniture in Korea. Founded in 1983, Fursys contributed to making the Korean furniture market more diversified and specialized. It launched a lifestyle furniture brand, iloom, in 1998. Initially starting as a student furniture maker, iloom expanded its scope into home furniture. Thanks to its willingness to accept new and original ideas, the company has created space that had only existed in people’s imagination.
In the planning stage, iloom figures out what consumers want and what it can actually offer. It administers the entire process ranging from planning and design to production. Equipped with stellar production infrastructure, Fursys Group can turn ideas into products immediately. It also has its own furniture research institute called “Studio One,” which includes a team dedicated to home furniture research. In cooperation with the researchers from the team and the brand planning department, iloom manages the entire production process.
Fursys, the parent company of iloom, was set up by professional designers and architects. It established South Korea’s first furniture research center in 1989 and changed the general belief that durability was the only thing that mattered for office furniture. In 2018, the company opened Studio One, the first furniture research institute with an integrated system, where designers and engineers work together. Through this collaborative system, the company has strengthened its expertise in the living environment and lifestyles of consumers.
Based on Fursys’ rich experience and expertise, iloom has been able to accurately analyze the latest trends, create the best possible designs and develop stylish and functional furniture pieces. These elements help the company secure a competitive edge in the domestic furniture market. It has won world-renowned design awards several times, including the iF Design Awards of Germany and the International Design Excellence Awards of the U.S. Indeed, the company has received worldwide recognition for the superiority and originality of its products. Iloom’s extensive research on people’s lifestyles and space has led to many innovative products.
Iloom researches how lifestyles may change and offers suitable furniture items. Our family bed is a good example. For instance, a married couple uses the same bed. After a child is born, the dad sometimes sleeps on the bed alone, while the mom and the baby sleep in another room. Or, the parents and the baby all sleep together on the floor. In that case, the bed is removed. Noting that many young South Korean parents live like that, we wondered how to ease the inconvenience.
Our family bed can be used as a queen-size bed for a married couple, but a single-size bed with safety bars can be attached to it for a newborn child. When the child grows up, the single bed can be detached and repositioned in the child’s room. So, this family bed is both attachable and detachable, in line with a child’s life stages.
Iloom’s family bed has been released in the name of the CUSINO series. It can be used in different situations, like when the users are newlyweds, when their baby is born and when the child grows up. They don’t have to buy new beds each time but can adjust the bed when the need arises. Iloom has attempted to find creative solutions in other areas as well.
The number of one-person households is rapidly increasing. Those who live alone mostly reside in small spaces. As a result, there is a growing demand for multi-functional furniture pieces that don’t allow the space to appear too small. In general, a bed takes up the most space. But it is only used when sleeping, so it might be considered inefficient, in terms of space. Our motion bed can be moved easily, so that it can be used as a chair or a sofa. When used as a sofa, a table can also be connected with it. This product combining a bed, sofa and a table is drawing a lot of attention from single-person households.
According to Statistics Korea, one-person households accounted for 29.8 percent of total households in South Korea last year. In line with this trend, iloom has introduced furniture tailored to people who live by themselves to create a more convenient and pleasant living space for them.
For those who treat pets as their family members, the company unveiled furniture catering to pet animals last year. The pet furniture has drawn a positive response, as it grew 40 percent, only six months after its release.
Newlyweds, single-person households and families with little kids or pets have their own lifestyles. The company reflects the diverse needs of consumers in its furniture. To this end, multiple teams at the company develop products in their own respective areas, such as student furniture, bedrooms and living rooms as well as sofas. In doing so, iloom subdivides work and nurtures specialists in each area.
The company has explored overseas markets in Taiwan, Hong Kong, Singapore and Vietnam to change the perception that the furniture industry is only for domestic demand. It has posted double-digit growth annually, which is indeed an impressive achievement. Still, it pursues higher value, rather than figures.
We put more emphasis on “mind share” than on “market share.” For us, how customers perceive iloom is more important than growth or sales rankings. Once customers use our furniture items, they will trust the products, repurchase them and recommend them to their friends and acquaintances. Eventually, many more people will enjoy the wonderful value created by iloom. This is our goal. We hope iloom will be engraved in the minds of customers as a great furniture brand that enhances the quality of life.
Based on its expertise, the company has continuously researched ways to promote a higher quality of life, adding originality and practicality to its products. The name of this company is iloom.