Godrej furniture division plans to tap Chinese market

Mumbai, Jan 27 | Updated: Jan 28 2005, 05:30am hrs
Furniture and Interiors Group (FIG) division of Godrej & Boyce Manufacturing Company Ltd is planning to foray into the Chinese market in 2005. The furniture will be distributed through Bangkok, Thailand, which is a heavy duty-free country for furniture.

Till now, the FIG division has been exporting its furniture to the Gulf, African and underdeveloped countries, but now plans are on the anvil to also implement exports of 30,000 Godrej cupboards and Formula S office furnitures to the UK since the demand is very huge, said Godrej & Boyce Manufacturing Company Ltd CEO-FIG division Anil Mathur.

Mr Mathur said, We have recently finalised an agreement with German-based Kusch and Company for representing its seating arrangements for Indian airports. We are also looking at manufacturing products for them to cater to the Indian and the international markets. This is basically to extend our product line for the institutional segment. In addition, we are also looking at manufacturing laboratory furniture for US-based Fischer Hamilton in Mumbai under the brand name G-Lab, soon.

The company has a 7% market share in the organised furniture market. Only 30% of the Rs 10,700 crore furniture market is organised. Over the next three years, the company plans to invest Rs 45 crore to garner a 15% market share, he added.