Home Essentials, the world leader in the production and rental of furniture and interior items, is expanding the production of furniture and mattresses in Kremenets (Ternopil region).
All registration actions have already been completed and a site has been selected to host production.
The Kremenets community received a powerful American investor – Home Essentials Ukraine LLC. The project is entering the implementation stage and starting to take on a life of its own – hiring workers, importing production equipment and forming a circle of suppliers.
According to Vasylevsky, the shipment of products will begin in the second quarter of 2023. At the first stage, the project creates 50-60 jobs, by the end of 2023 a total of 300 jobs will be created.
The investor transfers to Ukraine part of the operational processes of the back office from the headquarters in Hong Kong, and managers and creatives – logistics specialists, marketers, etc. will be provided with work here.
By analogy with similar factories in Ukraine, production in Kremenets will generate a turnover of about $12-15 million.
Export is planned initially to Spain, Portugal, Italy and France, and from the second quarter of 2023 to most EU countries.
To start production, for equipment and working capital, about $1 million of investments are provided in the first half of 2023, and up to $5 million in the second-third quarter.
Home Essentials is the world's leading manufacturer of furniture and home furnishings. The head office (headquarters) is located in Hong Kong. The European office is in Madrid. The company operates in more than 26 countries around the world.