[THE INVESTOR] Korea’s top massage chair maker Bodyfriend on May 30 launched a Lamborghini-themed massage chair LBF-750 in Milano, Italy.
Since the company hopes to expand its overseas presence through the new model, it unveiled the product in Europe before introducing it in Korea.
“We plan to also sell the Lamborghini-themed massage chair in New York, Dubai and Shanghai next year,” Bodyfriend Chairman Park Sung-hyun told reporters at the launching show of the new product. The Korean company aims to earn additional 3 billion won (US$ 2.8 million) in sales within 10 years by working with Italian luxury car maker Automobili Lamborghini.
During the event, the company emphasized that it's not just about the unique Lamborghini-themed design, but also about quality. According to Bodyfriend, it spend around US$30 million on R&D for its latest model.
Further, unlike 90 percent of existing massage chairs that are produced in China, Bodyfriend's chair will be manufactured at its new plant in Gongju, South Chungcheong Province for better quality control.
Production starts this month. Bodyfriend aims to roll out around 20,000 units of the new model per year.
Although the price is around US$30,000, which is 10 times higher than its existing massage chairs, the company received six preorders during the launching show.
The Korean company and Automobili Lamborghini signed a four-year contract to produce the premium product together in May last year. Park said that instead of simply forming an alliance, Bodyfriend has been placed in full charge of the Lamborghini brand's healthcare sector.
Established in 2007, Bodyfriend’s sales increased to 413 billion won last year from 2.7 billion won 11 years ago. The Korean firm currently operates 15 outlets overseas including in the US, China and Vietnam.
By Song Seung-hyun (firstname.lastname@example.org)