Interio, a major player in home and institutional segments in the furniture market, aims to capture in the next two years 23 per cent share in the organised segment of Indian home and office furniture market, estimated at Rs 62,000 crore.
“…today we have captured 18 per cent market share of the organised sector. Our aim is to increase it to 23 per cent in next two years,” Godrej Interio Head (Integrated Marketing) Bedraj Tripathy told reporters here.
He also said the sector is showing good signs of increasing business prospects with many unorganised players moving out and creating scope for organised players.
“We are seeing a good development with many unorganised players moving out and creating space for organised players. This could result in increasing business in the organised sector,” he said.
To a query, he said in spite of the economic slowdown since 2010, the home and health industries have not been affected and instead seen growth.
“Yes, there has been a slowdown right from 2010. It has not affected us. Yes B2B side has been affected, but that is overshadowed by the moving out of unorganised players, which benefited the sector,” he said.
On plans of new acquisitions, Thripathy said Godrej has no intentions of exploring such opportunities.
“We acquired a foam manufacturing unit in Haridwar which manufactures sofas. We just acquired another company. For us, acquisition is not an opportunity,” he said.
Asked how the company has fared well against IKEA, a global player, Tripathy said such companies help the organised sector grow.
“The entry of companies like IKEA is good because at least the organised sector starts growing. With 85 to 90 per cent unorganised market, any one player like IKEA shifts 2-3 per cent of the unorganised to organised sector,” he said.
Earlier, the company transformed Kannada filmstar Puneeth Rajkumar’s house as part of largest-ever consumer campaign ‘Upload and Transform’.
Touted as one of the biggest campaigns in the FMCD industry, the campaign would transform consumers’ lives by understanding their needs and transforming their living spaces using Godrej Interio products, Tripathy said.