Artwall is a leading wallcovering product designer, manufacturer and retailer in China with creative design capabilities and first-class flexible digital print-on-demand technology.

Founded in 2005, Artwall produces a full range of wallcovering products including wallpaper, mural, wall cloth and curtains, and has a well-diversified distribution network across the country. Artwall is headquartered in Shanghai and has one of the world’s largest flexible production bases in Jiangsu Province with digital print-on-demand technology.

Market trends and drivers

Artwall targets fast growing but fragmented China wallcovering market. Increasing wallpaper penetration ratio, more frequent renovation cycle and higher ASP through introduction of innovative new products will drive continuous future growth.

Continued rising disposable income accelerates consumption upgrade in China. With improving living conditions and rising demand for more artistic and eco-friendly decoration solutions, wallpaper is becoming more and more popular among Chinese households. Moreover, aging home and houses built during the 1990s (first decade of Chinese Real Estate commercialization period) are entering a renovation period, which further drives the market growth. Lastly, the China wallpaper market is fragmented with top 10 players representing only one third of market share. The market leaders like Artwall will benefit most from the industry consolidation trend.

Investment potential

Given its strong product offering, creative in-house design capability and industry leading flexible digital print-on-demand technology, Artwall is well-positioned to capture the growth opportunities in the under-penetrated wallpaper market in China and benefit from the increasing trend of more frequent home and house renovations.

EQT will support the company through further expansion of product offering to transform the company into a fully-integrated soft decoration solution provider. EQT will also support the company to consolidate the industry via value accretive acquisitions. In September 2018, Artwall announced the acquisition of Brewster’s China business. Brewster, founded in 1935, is the leading US wallpaper brand and has been a well-established premium brand in China for more than 20 years.

Societal contribution

The icons illustrate the portfolio companies' positive societal contributions based on their solutions i.e. how their products and/or services solve key challenges expressed as the Sustainable Development Goals (SDGs)

Board of Directors

Jerry He Board member
Ling Li Chairperson
Hui Guo Board member
Hongwen Chen Board member
Lijie Hu Board member
Li Ma Board member
Xiaoyuan Xu Board member


Ling Li CEO
Sichen Shu CFO