Interviews
Home textiles market on highly potential growth curve
27 May '09
8 min read
Next we asked them to comment on how the market for home textiles has evolved in the last few years, to which Mr Garg explained by saying, “Home textile continues its strong growth in the country, with a number of new projects and the growing domestic market is attracting international companies too and there is competition in both the domestic and export markets”.
“China is not a threat for us, as China is unable to manufacture the qualities that we produce, because they use old technology. India supplies over US $13 billion worth of textiles and apparel to the world's markets and exports are growing rapidly as more and more buyers around the world turn to India as an alternative to China. In 2005, spurred by the global elimination of quotas, shipments to the EU soared by 30 percent and those to the USA shot up by 34 percent and these increases are remarkable, given that EU imports from all sources rose by only 8 percent while US import growth was just 6 percent”, he concluded by saying.
Spokesperson of Maspar said, “If we see the growth of brand in this sector, earlier all the companies used to export from foreign market but as the market in India grew, branding in home textiles also started taking shape here also. If we go back by ten years, Bombay Dyeing was the major player in the market and no other brand tried to be a part of growing aspiration”.
“But the exposure of media helped a lot in changing the taste and preferences of the people. Companies started taking a interest in home fashion sector. Brands like Potrico, Atmosphere and Maspar became major players in the sector. The home textile market evolved with factors like growth in market , increase in disposable incomes, new patterns of living and combined together it created the demand and aspirations of a good living style and so these brands also evolved with the market”, he concluded by saying.
Next we asked them to reveal their companies plans with regards to expansion and product offerings in the next 1-2 years, to which Mr Garg said, “We are almost present in every category and Maishaa plans to launch its own exclusive stores in the Indian market and it will get into retailing other home furnishing products such as wall papers too and it also plans to have an international presence by launching itself in the global market”.
“Maspar already has 56-60 items in every collection and we are using all the possibility available in textiles to make unique products and no other brand in this category in India or anywhere is offering this much of in-depth product offerings. We are continuously innovating different ways to use textile in various forms and beyond bed, bath, table, fabric and kitchen linen, Maspar will soon launch products for home and office stationary using different fabrics along with which we are also focusing more on customization of the product that suits the individual's taste sensibility”, said the spokesperson from Maspar.
“China is not a threat for us, as China is unable to manufacture the qualities that we produce, because they use old technology. India supplies over US $13 billion worth of textiles and apparel to the world's markets and exports are growing rapidly as more and more buyers around the world turn to India as an alternative to China. In 2005, spurred by the global elimination of quotas, shipments to the EU soared by 30 percent and those to the USA shot up by 34 percent and these increases are remarkable, given that EU imports from all sources rose by only 8 percent while US import growth was just 6 percent”, he concluded by saying.
Spokesperson of Maspar said, “If we see the growth of brand in this sector, earlier all the companies used to export from foreign market but as the market in India grew, branding in home textiles also started taking shape here also. If we go back by ten years, Bombay Dyeing was the major player in the market and no other brand tried to be a part of growing aspiration”.
“But the exposure of media helped a lot in changing the taste and preferences of the people. Companies started taking a interest in home fashion sector. Brands like Potrico, Atmosphere and Maspar became major players in the sector. The home textile market evolved with factors like growth in market , increase in disposable incomes, new patterns of living and combined together it created the demand and aspirations of a good living style and so these brands also evolved with the market”, he concluded by saying.
Next we asked them to reveal their companies plans with regards to expansion and product offerings in the next 1-2 years, to which Mr Garg said, “We are almost present in every category and Maishaa plans to launch its own exclusive stores in the Indian market and it will get into retailing other home furnishing products such as wall papers too and it also plans to have an international presence by launching itself in the global market”.
“Maspar already has 56-60 items in every collection and we are using all the possibility available in textiles to make unique products and no other brand in this category in India or anywhere is offering this much of in-depth product offerings. We are continuously innovating different ways to use textile in various forms and beyond bed, bath, table, fabric and kitchen linen, Maspar will soon launch products for home and office stationary using different fabrics along with which we are also focusing more on customization of the product that suits the individual's taste sensibility”, said the spokesperson from Maspar.
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