Cinema seat maker D-Box signs China distribution deal worth up to US$22M
Deal expected to give Canadian motion-sensor seat manufacturer a boost in Chinese home entertainment market
LONGUEUIL, Que.—High-tech cinema seat maker D-Box Technologies Inc. has signed an exclusive distribution deal with a Chinese financial firm that will promote the company’s motion-sensor home entertainment seats in China.
Quebec-based D-Box said the deal with Hangzhou JC City Management Investment Group Ltd.—a subsidiary of Gold Finance Group—could be worth up US$22 million over five years and includes the firm sale of $3.1 million in motion-sensor seats over the next 15 months.
“On the heels of recent business development activities in China, we are convinced that high-end home entertainment will be a steadily growing sector in the lucrative Chinese market,” Claude Mc Master,the company’s president and CEO, said. “This substantial commitment from Gold Finance is a major opportunity to introduce more people to an unparalleled immersive experience that consumers can enjoy in the comfort of their living rooms.”
While D-Box rose to prominence as in-cinema entertainment manufacturer, the deal with Gold Finance covers its seats designed for homes, which function similarly to those now in cinemas around the world.