Red Star Macalline, China’s largest national furniture mall chain, has signed an agreement to buy Changchun Jisheng Weibang Furniture Co. Ltd., National Business Daily reported Tuesday, citing a source close to Red Star. Wu Yuqi, marketing director of Jisheng Weibang — which currently ranks as the No. 3 player in China’s furniture market — confirmed the deal, the report said. But the price and other details are yet to be known, it said. An industry insider was quoted as saying that the deal could boost Red Star Macalline’s strength in sales channels and pave the way for the firm’s listing on the stock market.
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