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- Growing my Business
- Expanding internationally
International horizons: how King Living is designing a global presence in new markets
King Living® is an Australian furniture designer, manufacturer and retailer that prides itself on design, innovation and comfort.
Founded in 1977 by David King and his mother, Gwen, King Living is a vertically integrated family owned and operated business, built from the ground up. Today, nearly half a century on, those family principles are still at the heart of everything they do, and are key to the thriving global business it is today.
The Secret to Success
From the early days, King Living has been creating timeless furniture of the highest quality, leading them to pioneer new product features making them synonomous with innovation and top quality furniture in Australia. After years of growing steadily on their home shores, it was time to push the boundaries of this success and expand into new markets.
When the King Living team started considering venturing into international markets, they needed to connect with a bank that had the experience and proven track record to support a business in the development from a single country market to one that could function in multiple markets across the world.
In 2017, King Living made the decision to consolidate their banking and move forward with one global partner – HSBC, allowing them to tap in HSBC's presence in 62 markets and territories. The partnership enabled expansion furniture brand to reach new markets while holding true their ethos of keeping everything in the family.
As King Living CEO, David Woollcott explains, “they support us to seamlessly integrate our operations into these new markets without losing the quality and care that is crucial to the success of our business model.”
Going Global
The first leap was into the Singapore and New Zealand markets, followed by Malaysia, China, Canada, the UK, and USA in 2024. Each of these markets holds major differences from Australia, and from each other, in ways of operating, payment methods, insurance, leasing requirements and management of retail spaces.
As a trusted global partner, HSBC was crucial in the successful - and fast - integration of King Living into these new markets. With on-the-ground expertise in each of the markets HSBC was able to provide tailored support. This varied by country but included providing accounts, payment infrastructure and bank guarantees to set up their new showrooms sites.
Ciaran Scott
Our proprietary transactional banking platform HSBCNet, allowed King Living to stay in control of their cash flow by giving the team viewing access to real-time transaction data and statement details across all global accounts in their portfolio.
HSBCNet offers a comprehensive suite of flexible online financial solutions designed to help our clients increase productivity and manage their cash flow. HSBCnet not only allowed King Living to view and forecast across all key accounts internationally, but is also equipped with the latest security technology to ensure cybersecurity where it’s needed most.
One of King Living’s key strategic moves internationally was to diversify their manufacturing capabilities by securing a new manufacturing site in Thailand. HSBC was able to support this vision by providing financing for the fit out of the new site.
The Next Destination
With more than 30 showrooms across Australia, New Zealand, Canada, the UK, the US, Singapore, Malaysia, and China, Woollcott says the global success of King Living wouldn’t have been possible without the HSBC partnership.
David Woollcott
HSBC's reputation, size, and proven track record gave us the confidence they would be able to support us to succeed in our endeavours
And there’s no slowing down in sight, in fact, their growth efforts are only set to ramp up, with future focus on continued development in the UK, North America, and China. They’re also set to soon open the biggest Australian showroom to date in Nunawading, Victoria. And HSBC is supporting this by providing King Living with a corporate program in Australia and Asia to manage cash flow.
“We’re confident in our ambitions knowing we have HSBC as our global partner,” Woollcott says.
"The support provided to King Living by HSBC throughout their global expansion is the same support that’s been provided to a number of other companies as they embark on their own expansion into international markets. With years of experience providing this level of assistance, HSBC brings substantial value to clients in facilitating their business strategies locally and abroad," says Ciaran Scott, Head of Corporate Banking, NSW and QLD.
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