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India : Home Furnishings – brands excite the markets |
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2004-8-20
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 As the unorganized home furnishings sector generates the heat in the markets, the organized sector, which includes giants like Bombay Dyeing, Welspun, Portico and Kurlon among others, have made significant innovations and forays the segment.
Brand leader Bombay Dyeing has already stepped up its efforts to retain leadership and market share.
Vertically integrated Welspun dominates the towels markets while Spaces, a new home textile brand has been tapping the not-so-crowded home furnishing segment.
Spaces is expected to offer a range of bed, bath, and kitchen and table linen, all specifically for the Indian market. The company exports its products across 32 countries.
Welspun plans to expand its capacities locally, while also eyeing acquisitions and seeks to replicate its success in the export market by bringing in a new India specific brand.
Ambitious plans are drawn to capture at least a 30 per cent share in the home segment and in the process Welspun has availed the services of Ambience Publicis to develop its brand, with a seed investment of Rs 50 crore.
Another Mumbai-based apparel and home furnishing export company, Creative Mobus Fabrics Pvt Ltd, has also focussed its attention on the fast growing domestic market.
After capturing international market, the company, whose strengths are in sourcing, designing and manufacturing, has now brought in a home furnishings brand from New York, called Portico, through a licensing arrangement.
To build the Portico brand, the company has appointed Contract Advertising. With an ad budget of Rs 3 crore, Portico will carry the baseline, `There is no place like Home.''
Besides, the Bangalore-based Kurlon Ltd., a pioneer and leader in branded mattress, has now decided to go beyond mattresses and is even contemplating getting into retailing in home furnishings. A string of almost 50 stores under the name of `Kurlon Nests'' are to be launched in major cities by the end of 2005. The company is expanding its range and venturing into soft furnishings and launching bed and bath linen, curtains and towels. And when talking locally, why should global pastures be forgotten?
There are also plans to make a foray into the global markets, starting with Sri Lanka, Dubai and East Africa. Sri Lanka would be a base for their international operations.
Meanwhile, the Rs 1,000-crore Bombay Dyeing is all set to enhance its image in the textile industry by spending lavishly on promoting its baseline `Bring Style Home.''
Plans are afoot to project Bombay Dyeing as an aspirational brand and advertising is targeted at building the mother brand of Bombay Dyeing."
According to leading consultants KSA Technopack, the bed and bath market is estimated at at Rs 1,800 crore, and is growing at nearly 25 percent per annum. Saloni Nangia, Manager, KSA Technopak says, "Just like apparel and footwear, the home linen market is moving from unbranded to branded. In fact, more international brands are likely to enter this market." |
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