Home décor firms seek Indian platform

Many international luxury home décor and furnishing brands,

mainly from Europe, are now stepping into the growing Indian market of premium and luxury home décor. They are tying up with Indian companies, giving the high-end domestic brands a run for their money. This year will see the launch of many home-décor brands from Italy.

Italian furniture brand, Smania, is all set to make its India debut in Mumbai, having tied up Grandeur Interior, an Indian company for home décor. Also, Visionnaire from Italian brand Ipe Cavalli is to be launched in by International Furniture Brands (IF Brands), a retail chain for luxury home products. The company will also launch Italian brand VG Newtrend, in addition to showcasing the contemporary offering from brands like Christopher Guy and Fendi Casa, at its exclusive store in New Delhi soon.

Another Italian furnishing brand Minotti is in talks with IF Brands to enter India. Others such as Versace Home is already selling in India after a tie-up with Blues Clothing Company while others such as Giorgetti S.p.A  and Poltrona Frou, another Italian brand have all been launched over the last year or so.

According to Samvit Tara, Director, IF Brands, the market for luxury home décor is Rs 4,000 crores plus and is growing at 20-30 per cent every year. Builders like Unitech, DLF, Orbit, Lodha and Vadia are coming up with high-end high-rises where they are giving choice like that of a Fendi Casa home or a Cavalli home to customers. The IF Brands, represents 30 global designer furniture lines and accessories is looking at a turnover of Rs 70-100 crores with high-profile clients like the Ambanis, Ruias, Munjals and the Nandas of Escorts. Giorgetti on the other hand has been doing business worth Rs 10 crores, on an average, for the last three years through agents, without having a proper store.

They target customers with incomes above Rs 50 lakh per annum. On an average, the price of articles starts from Rs 50,000 and goes up to a few crores. Buyers are mostly celebrities, industrialists, embassy personnel and the homebound NRIs. Besides Mumbai and Delhi, a lot of demand is coming from Tamil Nadu, Hyderabad, Bangalore, Kolkata, and Surat among other cities.