Business
HomesToLife Ltd Forecasts New Subsidiary Expected to Produce 2025 Revenue of US$12.0 Million to US$14.0 Million
Singapore, Feb. 13, 2025 (GLOBE NEWSWIRE) -- HomesToLife Ltd (Nasdaq: HTLM) (“HomesToLife” or the “Company”) today announced that its subsidiary, HTL Far East
About this update from Homestolife Ltd
[{"type":"text","content":"Singapore, Feb. 13, 2025 (GLOBE NEWSWIRE) -- HomesToLife Ltd (Nasdaq: HTLM) (“HomesToLife” or the “Company”) today announced that its subsidiary, HTL Far East Pte Ltd (“HTL Far East”), established in October 2024, received sales orders exceeding US$1.5 million in January 2025 and is expected to produce revenue of US$12.0 million to US$14.0 million in 2025, driven by an accelerating sales ramp-up in response to strong demand. HomesToLife’s revenue in the first six months of 2024, prior to the formation of HTL Far East, was approximately US$1.99 million. HomesToLife expects its total 2025 revenue to range from US$16.0 million to US$18.0 million, representing a more than 300 percent increase over its projected 2024 revenue figures. HTL Far East is dedicated to sourcing, distributing, and delivering premium furniture and related products to both consumer and business sectors across the Asia-Pacific region. This new subsidiary’s robust growth outlook, said HomesToLife’s CEO Phua Mei Ming, “is a testament to its savvy strategic initiatives and the market's positive response to its offerings.” HTL Far East is led by Mr. Phua Yong Pin, Mr. Phua Yong Tat, and Ms. Phua Mei Ming, who are Chairman, Vice-Chairman and Chief Executive Officer with HomesToLife, respectively. “The formation of this subsidiary, we believe, satisfies the surging demand across the APAC region for premium furniture at reasonable prices,” said Ms. Phua Mei Ming. “We anticipate this demand will continue to grow in 2025, and permit HTL Far East to experience further expansion and success.\" “We further expect HTL Far East will continue to strengthen HomesToLife’s presence in the furniture industry and add significant long-term value for our stakeholders.” About HomesToLife Ltd The Company’s other indirect wholly owned subsidiary and operating company, HomesToLife Pte. Ltd., is one of the leading home furniture retailers that offers and sells customized furniture solutions in Singapore. As of October 2024, it had six retail store locations. It has helped homeowners create living spaces that reflect their individuality since 2014. Its product offerings include leather and fabric upholstered furniture, case goods and accessories, and offers a one-stop shop for retail customers to furnish their homes. “HomesToLife” has a long-standing pledge to offer fair prices, great val...