Manu P. Toms<\/p>\n
Mumbai, Nov. 11 A bottle opener that costs Rs 12,000, a 100 cm-high 30 cm-wide mirror which is priced Rs 46,125 and a dining table that is worth Rs 3 lakh; all belonging to the superior international furniture brands. Seems unaffordable?<\/p>\n
These are the best-loved items of the globally rich upper segment of the Indian consumers, whose refined aesthetics and upmarket demands have pushed a 63 per cent rise in the furniture import to India.<\/p>\n
According to the Commerce Ministry figures, furniture import to India rose to Rs 1,801.27 crore in 2013-07 from Rs 1,103.46 crore in the previous year, an increase of 63.24 per cent against India\u00e2\u20ac\u2122s total import growth of 27.27 during this period.
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\nDealers say that sales are buoyant and will go beyond all past records in the current financial year, thanks to the growing demand from the upper middle class, the segment which is fast expanding. \u00e2\u20ac\u0153Five years ago when we set up shop, there were hardly any foreign brands selling in India. Now we see a 70-80 per cent leap in annual sales figures,\u00e2\u20ac\u009d says Mr Cyrus Merchant, Manager of Yantra Birla Lifestyles, Mumbai, dealers of Italian furniture brands such as B & B Italia, Kartell and Fiam.<\/p>\n
As many as 60 foreign furniture brands took part in the recently concluded B2B Index International Furniture Trade Fair in Mumbai. Of these, 54 were from Italy, four from China, three from Taiwan and one from Malaysia.<\/p>\n
Italian brands dominate the scene, while South East Asian furniture maintain their traditional popularity. \u00e2\u20ac\u0153We feel there is a big market and a new-found demand for imported modular furniture,\u00e2\u20ac\u009d says Ms Namrata Dugar, Managing Director of Chennai-based Ikian Furniture. Ikian, which sources furniture from South East Asian countries, has presence in Chennai, Bangalore and Mumbai.<\/p>\n
In response to the growing demand, they are setting up a retail shop in Hyderabad. Even the high import duty does not dampen the consumer spirit, according to Ms Dugar.<\/p>\n
When the 35 per cent import duty and overhead expenses are added, the selling price is often double the original cost of furniture from abroad. \u00e2\u20ac\u0153For highly expensive items our margins are nominal since we have to keep the prices attractive. We make it up by bulk selling,\u00e2\u20ac\u009d says Mr Merchant.<\/p>\n
\u00e2\u20ac\u0153Indians now travel a lot overseas and have better exposure to foreign goods. They have a penchant for brands and don\u00e2\u20ac\u2122t bother about cost,\u00e2\u20ac\u009d says Ms Pragati Gupta, Director of Aamore Per La Casa, Mumbai. Aamore sells Italian brands such as Bonaldo, Vismara and Ipecavalli. \u00e2\u20ac\u0153International furniture brands have become familiar for the upper segment of Indian customers just as the cloth brands. We get lots of clients from Pune, Ahmedabad and even Kolkata, \u00e2\u20ac\u009d says Mr Merchant.<\/p>\n","protected":false},"excerpt":{"rendered":"
Manu P. Toms Mumbai, Nov. 11 A bottle opener that costs Rs 12,000, a 100 cm-high 30 cm-wide mirror which is priced Rs 46,125 and a dining table that is worth Rs 3 lakh; all belonging to the superior international furniture brands. Seems unaffordable? These are the best-loved items of the globally rich upper segment […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-5094","post","type-post","status-publish","format-standard","hentry","category-furniture-indonesia-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/5094","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/comments?post=5094"}],"version-history":[{"count":0,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/5094\/revisions"}],"wp:attachment":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/media?parent=5094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/categories?post=5094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/tags?post=5094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}