Moen takes lion's share in China's faucet market

Moen, the number one faucet brand in North America, achieved an annual 30 percent growth in China in 2013.

Ever since the company entered the Chinese market in 1994, Moen has recorded steady growth, with the compound annual growth rate between 1995 and 2013 reaching 31.9 percent.

In 2009, Moen had a total of 307 showrooms in China and the number grew to 875 in 2013.

The company expects that there will be at least 1,270 showrooms by 2016, many located in third-tier cities, said George Wu, vice-president and general manger of Moen Asia Pacific.

Moen has been taking the lion's share in the Chinese market. About 49 percent of B&Q's sales of faucets come from Moen, the company said.

Meanwhile, Moen is cooperating with leading Chinese property developers, including Vanke, Evergrande, and Poly.

The central government's tightening control on the property market will exert little impact on the downstream industry players such as Moen, for the industry is still on the rise in China which promises potential for further growth, said Wu.

Introduced to the Chinese market this November is the "Diamond" bathroom faucet and the "Waterfall" showerhead.

"China is one of our most important global markets, and we always ensure that the Chinese market enjoys the latest technologies together with our global counterparts. We want our Chinese customers to jointly share our innovative products with our North American customers and the quality standards with the world," said David Lingafelter, president of Moen.

Wu added that Moen will further cater to the various demands of different groups of customers, mainly targeting the medium- and high-end fine decorated buildings and fast growing e-commerce platforms in the future.