If steel furniture has hitherto been looked at as being merely functional with very little elegance or style, the new entrant in the furniture business – JSW Group – is all set to change the mindset as well as market equation. JSW Group is eyeing at capturing a big chunk of the market share with its ‘thoughtful’ portfolio of products.
Give a thought to furniture and you realise that it’s no longer about getting the basic necessities in place. In fact, next to buying a home, furniture is the second biggest item on the lifestyle list and it comes as no surprise then to find huge furniture showrooms catering to customers who are likely to choose each of the products with much care and deliberation – the idea being to make their home reflect their own personalities and their way of living. Comfort therefore goes hand-inglove with style. And so, it’s but natural to find the Indian furniture market one of the most lucrative opportunities.
Take a look at what the numbers say: the market is projected to cross USD32 billion by 2019 despite the fact that the organised market in home furniture is only around 14-15%. Moreover, it is highly fragmented with over 50 brands that have either national or regional presence. The office furniture segment is slightly more structured with over 40 players operating in the organised segment and contributing to over 35% of the market size. This indicates that there is clear space for more players to participate and share the big-sized pie.
NEW KID ON THE BLOCK
Bu hikaye The Franchising World dergisinin August 2018 sayısından alınmıştır.
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Bu hikaye The Franchising World dergisinin August 2018 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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