Our mission is to become the leading upholstered furniture supplier in India and the Middle East. (Incorporated in the British Virgin Islands)

We are a fast-growing furniture supplier principally engaged in the sale and distribution of upholstered furniture in India through Newcentury Trading, our Operating Subsidiary. We are engaged in the sales and distribution of (i) mainly upholstered sofas under the brands “Domicil,” “Fabbrica,” “Corium Italia,” “Relax Studio by HTL” and “HomesToLife” or under the customer’s retail brand, and (ii) to a lesser extent, other furniture in the living room, dining room and bedroom such as case goods, mattresses, tables and chairs. “Domicil,” “Fabbrica” and “Corium Italia” are European brands designed by top-class designers from all over the world and offer premium and luxury products targeting the middle and upper class. “Domicil,” “Fabbrica,” and “Corium Italia,” are registered trademarks under related parties of the Company licensed for use to Newcentury Trading. “Relax Studio by HTL” is a brand targeting middle class customers who prioritize functionality, comfort and quality. “HomesToLife” is marketed to the premium mass market to provide customers with affordable, reliable and customizable options. We sell our products in India through (i) furniture retail partners, (ii) dealers, and (iii) our retail stores to India’s growing middle and upper class and the premium mass market.

We believe we are the trend-setter in India and offer high-quality and stylishly designed furniture to our customers. In order to capture the middle and upper class markets in India, we have marketed distinct furniture brands and product collections since our establishment targeting different segments of India’s middle and upper class and leveraged the expanding network of our furniture retail partners, franchise stores and our retail stores. We also provide the premium mass market with affordable, yet stylish, products, setting ourselves apart from our competitors. We believe as India consumers’ living standards continue to improve, our brands will grow significantly as the demand for high quality and stylish furniture by consumers increases. We plan to further penetrate the India market by opening additional retail stores in the near future.

We broadened our sales channels and achieved significant growth in our business in 2023. Our revenue increased from $0.004 million for the year ended December 31, 2022 to $5.8 million for the year ended December 31, 2023. Our net income increased from net loss of $683,721 for the year ended December 31, 2022 to net income of US$24,860 for the year ended December 31, 2023. The increase in revenue primarily resulted from extending our reach to a larger base of customers through the expansion of distribution network, which we do not expected to recur. We started the business in 2022 and there were only two retail partners and dealers in the year ended December 31, 2022, which we broaden the sales channels to more than 15 furniture retail partners and dealers and a number of independent retail customers as at December 31, 2023. While we expect growth in future years, we do not, and prospective investors should not, expect such rate of growth to be recurring, and our past results should not be deemed, or used as, an indication of our future business performance or results.

To date, we generated the majority of our sales through sales to our furniture retail partners and dealers. We market our sofas under the brands “Domicil,” “Fabbrica,” “Corium Italia,” “Relax Studio by HTL” and “HomesToLife” through selling to furniture retail partners and dealers. We engage various furniture retail partners and dealers in India under our distributorship arm to extend our reach to a larger base of customers. Our network of furniture retail partners and dealers are located in major shopping malls and furniture shops in India. We enter into written agreements with furniture retail partners to operate in a “shop-in-shop” model which requires our furniture retail partners to reserve an exclusive space of their store dedicated for marketing and selling our products. We enter into written agreements with our dealers to which the dealers are authorized to establish and operate the designated dealer store under our brand name to sell our products. As at December 31, 2023, we entered into written agreements with more than 15 furniture retail partners and dealers to market our products in India.

We also operate our own retail stores under the brand “HomesToLife” by offering a one-stop solution to retail customers to address their furniture needs. We sell sofas and other furniture through our retail stores tailored to the needs of our customers. As at December 31, 2023, we have three retail stores, operated either directly by our Operating Subsidiary in India or through our dealers in India, under our brand “HomesToLife,” located in Mumbai, Bengaluru and Hyderabad, India.

We source our products from different furniture suppliers in the PRC and India based on various factors including design of the furniture, market trends, cost and demand anticipated by our management and procurement team, as well as specific customer orders.

Note: Net income and revenue are for the year that ended Dec. 31, 2023.

(Note: HTL Group Ltd. filed its F-1 on Aug. 26, 2024, and disclosed the terms for its IPO: The company is offering 3.75 million shares at $4.00 each to raise $15.0 million.)