PETALING JAYA: Synergy House Bhd
is expected to register strong earnings growth in the next three years, boosted by its rapid expansion of the business-to-consumer (B2C) division as well as a resilient business-to-business (B2B) segment.
According to Rakuten Trade Research, Synergy House is focusing on leveraging technology and artificial intelligence (AI) to acquire up-to-date information and enhance efficiency in expanding the B2C sales segment.
Synergy House is a cross-border eCommerce seller and furniture exporter, specialising in affordably designed ready-to-assemble (RTA) home furniture.
The company, which serves B2B and B2C channels, reaches customers through online retailers, chain stores, wholesalers, and third party eCommerce platforms.
“As part of its growth strategy, Synergy House aims to strengthen its B2C segment which enjoys better margins,” it said.
The research house said the company targets a 70% B2C revenue share by the financial year ending Dec 31, 2025. The B2C segment made up 55% of revenue for FY23 versus 25.6% in FY22.
Rakuten Trade said this year, the company plans to expand its B2C offering to over 2,000 stock-keeping units (SKUs).
Synergy House will enter the French market, replicating its successful UK model. It already has operations in five markets and 11 platforms, including Wayfair US.
Synergy House will onboard more than four new platforms in 2024 such as Amazon Germany, Canada, France, and Mano-Mano France, according to the research house.
