A mattress packaging workshop belonging to MLily, a furniture manufacturer in Rugao, Nantong, Jiangsu province. [Photo/WeChat account: rugaofabu]

Driven by continuous innovation, Rugao's furniture manufacturer MLily has maintained steady operations, improved supply chain efficiency, and is becoming increasingly well-known abroad.

From 2017 to 2023, MLily's revenue grew from 2.34 billion yuan to 7.98 billion yuan ($1.1 billion). The company has developed a comprehensive product line that includes memory foam mattresses, memory foam pillows, sofas, and adjustable beds. According to its financial reports, memory foam mattresses, its flagship product, generated 3.98 billion yuan in revenue in 2023, with an annual sales volume of 6.92 million units.

Seizing opportunities for overseas expansion, MLily has continually adapted its business model, leading to rapid growth in online cross-border e-commerce. In 2023, the company's overseas online revenue reached 966 million yuan, a 116.17 percent year-on-year increase.

MLily has also expanded its international retail channels, acquiring several European and US brands. These acquisitions include Spanish brand Maxcolchon, US home furniture chain Morfuniture, and a close partnership with well-known German furniture chain Matratzen Concord.