IN INDIA, A land where tradition and modernity collide with every sunrise, a quiet revolution is reshaping the furniture industry. For decades, the Indian furniture market has been synonymous with local craftsmanship and heritage brands, steeped in history. But, this landscape is gradually transforming to become a vibrant playground for global luxury brands.
International names such as Poltrona Frau, Pottery Barn and IKEA have introduced their design philosophies and craftsmanship to the Indian market. The $20-billion Indian furniture market—the fourth-largest globally—is expected to see a CAGR (compound annual growth rate) of 14% to reach $34 billion by 2028, according to data from Deloitte. However, it is worth noting that a significant portion of this market remains unorganised. The organised sector currently accounts for just 21% (around $4 billion) of the market. But its share is expected to more than double to $8.1 billion by 2028. This offers a substantial opportunity for brands to scale and increase market penetration, driving the growth of branded furniture.
THE GLOBAL INVASION
Nicola Coropulis, CEO of Poltrona Frau, has been busy. On a recent visit to India when he met Business Today, his time was taken up by visits to the company’s flagship store in Mumbai, and meeting distributors from across the country. Poltrona is known to partner with famous designers and architects, and has a presence in over 100 countries.
In India, the company opened its first store in Mumbai in 2010, and has since collaborated with local talent to craft its iconic array of home décor.
この記事は Business Today India の September 29, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Business Today India の September 29, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
"Moving to cloud helped us grow❞
What was the problem you were grappling with?
She's Got Time
MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP
RISING STAR
PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.
Building on a Legacy
WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.
LEADER IN INNOVATION
AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.
WAITING IN THE WINGS
Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025
A DECENT PROPOSAL
IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?
Women and the STEM Bias
EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.
ROCKET WOMEN
WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.
ONE STEP FORWARD
THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.