The Indian home textiles market is growing by leaps and bounds encouraging textiles and apparel players to diversify into home textiles, and e-commerce giants are adding 'home' segments on their websites. The country is witnessing an emergence of luxury home stores/designer boutiques, and exports are flourishing. The market is poised for further growth, writes Manisha Almadi Midha.
The home textiles market in India is estimated to be Rs 17,000 crore and is growing at over 9 per cent annually. India is globally recognised for its variety and designs in home textiles and furnishing fabrics. The growth can be attributed to increase in the number of households and disposable incomes, and growth of the housing, office, hospitality and healthcare sectors.
"The growth of home textiles is inevitable in the Indian market as customers look out to have a unique showcase at their home and office, and do not hesitate to spend on the same," explains Amit Gupta, co-founder and director of the e-commerce website, Surpluss. Bed and bath linen are the most popular segments and contribute to two-thirds of the total home textiles market while kitchen linen, curtains, upholstery and carpets/rugs make up for the rest of the share.
The unorganised sector dominates this market. Less than 10 per cent of the market is organised; thus, there's a huge opportunity for organised players to grow. Raymond Home recently announced its foray into the organised Indian home textiles market with the launch of the A/W '15 Collection for retailers of Maharashtra at an event in Pune. "We would like our products to be more accessible to our customers by optimising our vast distribution network and look forward to introduce new distributors in Maharashtra," says SK Gupta, president, Raymond.
E-commerce portal Fashionara also entered the home fashion category a few months ago, and its reasons are the same as those of the brands. "With over 90 per cent of the home furnishing market still being unorganised, there is a huge opportunity for e-commerce companies to own a large market share in this space. Moreover, the home textiles segment is growing extremely fast, and we expect to continue to double our business every second quarter on the back of the new home fashion category," says Arun Sirdeshmukh, co-founder & CEO, Fashionara.
Organised players, online players
Welspun India, established in 1985 in Mumbai, is the largest manufacturer of home textiles in India and a major supplier to retailers across the globe. It owns Welspun USA, UK brand Christy, and two Indian brands - Spaces (2004) and Welhome (2006). Creative Portico (India), a Mumbai-based manufacturer and exporter of home textiles launched Portico New York in 2004.
Bombay Dyeing, launched in 1879, is another Mumbai-based manufacturer and retailer. Raymond also based in Mumbai, launched Raymond Home in 2013. Delhi-based manufacturer and exporter Maspar launched its soft home furnishings in 2002. Delhi-based La Kairos, established in 2011, is among the luxury brands to enter the home textiles market.
Luxury home stores like Atmosphere, Good Earth and Pure, and EBOs such as Fabindia cater to a niche audience. Large format retailers like Home Centre, HomeStop, Westside, Big Bazaar and Vishal Mega Mart reach out to the mid and