Singapore Volume 9

7 8 | S U P E R B R A N D S V O L U M E I X MARKET Sea Horse is a leading manufacturer and retailer of mattresses, pillows, bedding, sofas, leather beds, and pine wood furniture. Its mattresses and pillows have been consistently recognised as the best-selling products in their category, in Hong Kong, Singapore, and Macau. In Macau alone, the market share for Sea Horse mattresses was with 81% in 2016. The target audience for Sea Horse is mid- to high-end consumers who strive to enjoy a comfortable and healthy lifestyle. A recent analysis shows that 30% of the company’s turnover is generated by middle-income customers, 50% by the mid-top income segment, and the remaining 20% by high-end income customers. Turnover is expected to double in the next ten years. Outside of being market leader in Hong Kong, Singapore, and Macau, within the next five years, Sea Horse plans to define itself as the market leader in mattress and pillow sales for Malaysia and Guangdong province. As consumers increasingly demand that manufacturers and retailers offer safe, healthy, and environmentally friendly products, Sea Horse continues to make every effort to adapt, develop, and match its product lines to customer requirements, paving the way for strong international growth. ACHIEVEMENTS In its core markets of Hong Kong, Singapore, and Macau, Sea Horse is a household name. Sea Horse has been the best-selling mattress in Singapore for 8 years as well as in Hong Kong for 28 years and Macau for 8 years. 2017 is Sea Horse’s 30th anniversary in Hong Kong. Sea Horse’s client base has expanded beyond retail to include five star hotels, hospitals, nursing homes, universities, and other public institutions. The company has a strict product quality monitoring procedure to ensure the consistency and quality of the brand, with respect to both products and management. Over the years, Sea Horse has achieved many honours and awards including the Singapore Superbrands Award for seven consecutive years since 2010. It also achieved Singapore Brands and Regional Brand Award by SBEA in 2014. Sea Horse was conferred “Trusted Brand Gold Award” by Reader’s Digest in Singapore for 8 consecutive years, and it is proud to be the brand receiving the ultimate “Hong Kong Trusted Brand Platinum Award” from 2015–2017. In 2014 and 2016, the company was also recognised with the “Greater China Super Brands Award” by East Week magazine. All these achievements are testimonies to the outstanding status of Sea Horse as a market leader. HISTORY Sea Horse having been founded in 1987 is celebrating its 30th anniversary in 2017. From one shop and a handful of employees, it has grown to two global production bases, five logistics centres, and over 500 retail outlets. Sea Horse has evolved to become a truly worldwide enterprise, with a customer base that spans the geographies of Hong Kong, Singapore, Mainland China, Macau, Australia, Malaysia, Canada, UK and other markets. PRODUCT Sea Horse’s product range includes mattresses, pillows, bedding, sofas, leather beds, and pine wood furniture. The company makes a substantial investment in research and development to ensure its customers enjoy top quality products at competitive prices. Following the success of the Healthy Mattress, Sea Horse went on to manufacture the Diamond Mattress, the Memory Pillow, and the Sea Horse Mattress ‘latex-like style’. Since 2005, Sea Horse Singapore has been reforming its logistics, operations, and product lines to maintain its status as the leading brand. By implementing more structured staff training programmes, and identifying the most advantageous retail locations, the company intends to maximise its future development in Singapore. RECENT DEVELOPMENTS To maintain its position as a market leader, Sea Horse has diversified its product offerings and become increasingly innovative in efforts to meet the evolving needs of a demanding consumer base. In 2014 the company was operating production plants around the country, and formally launched a five-year plan focused on global development strategies. The investment plan for Vietnam included building a larger production plant to improve logistics and distribution services. The stability in the Singapore, Malaysia, Hong Kong and Macau markets, has enabled stakeholders to focus more attention on the Chinese market by launching an additional 500