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Report on Home Furnishing in India - Trends, Key Players, Exports, Future Outlook

India Reports (www.india-reports.com) has launched a new report on Home Furnishing in India, which profiles one of the biggest segments of Indian Industry.

The textile industry in India is one of the largest contributors to industrial production in India and Home Furnishing form a major chunk of this industry. India is one of the leading producers and exporters of home furnishings from bed, bath, kitchen linen to window dressing to dhurries, carpets and rugs.

This overview on the Home Furnishing Industry in India (www.india-reports.com/summary/HomeFurnishing.aspx) provides comprehensive information on the history and growth of the Home Furnishing Industry in India. The report details out the market structure, size, potential and growth potential of the Home Furnishing and Home Textiles Industry and India's share in the global market, amply illustrated with many suitable graphs and tables.

The report also profiles the top 10 players in the industry and provides a list of government agencies and associations with links, related to the Home Furnishing and Home Textiles market in India.

To know more about the report please visit                                                                                           www.india-reports.com/summary/HomeFurnishing.aspx

Changing lifestyles in India

Indians spend on Gucci, Calvin Klein and Diesel. Healthy living makes an entrance with people opting for organic food instead of fast food. After designer watches and bags, it is about luxury homes, elite cafes and private aircrafts. Chefs are enjoying celebrity status as dining out becomes a lifestyle activity

Keep track of lifestyle trends in India.

Retailing organic food

There is a gradual revival of the organic food and home grown cooking trends. The slow food movement is 'slowly' catching on. A reflection of this is the subtle lifestyle changes as people become eco sensitive.

Organic products have found small places on retail shelves in Indian stores. Many retail chains are allocating nearly 2%- 5% of the retail space for organic products as consumers have become more health and ecology conscious.

Some players in organic retail in India include the Khadi Gramudyog, Navdanya, Greenway, Namdharis, Nature’s Basket, Organic India, Satvic, Sresta,IITC Organic and Fab India

But how many products are actually organic?
Is there any certification?

Sail away!

Cars and Jets are passé.
It’s the season for sailing.
Joint ownership of expensive yachts, exclusive yatch clubs and weekends on sea is the new trend catching on with the rich.
Industry players estimate that it is a 200 crore market for boats in India.

The next trip could be leisure sailing from Mumbai to Goa.

Golf Tourism- another niche tourism sector

Golfing is catching up fast in India. The sport has witnessed 35-40% growth over the last four years. Real estate developers and tourism companies are keen to cash in on the tee factor as well.

India is way off the mark, compared to countries like Malaysia, as far as number of golf courses are concerned. Golf courses have been traditionally owned by city clubs or the defense service wings. The scene is changing now. The sport is becoming popular with the upwardly mobile professionals. The presence of the expat community has added to the glitz for the sport.

The tourism companies are adding ‘the heritage experience’ to the golf tours. Most luxury housing development projects have the golfing greens as a focal ‘selling’ point.

Bangalore best restaurants and pubs:

The Times Food Guide 2008 toppers list for Bangalore:

The new investment option: Indian art

Indians are discovering art as the new investment option.
Online auction sites and art galleries are seeing business booming.
And it is not the industrial homes or rich NRIs who are shopping. It is the emerging Indian professional who is discovering Indian art and artists, doing up his home in style. Saffron art estimates the online market between $30-$40 million/ annum.

Luxury Market in India

The true picture about India’s luxury market is that the luxury retailing space is missing. The high streets like Ginza and Bond Street are no where visible in India. The best luxury brands do not find the right ambience and locale to sell their brands. High end exclusive retail stores are now being planned by DLF and others.

As pointed out by Harish Bhat, COO, Titan Watches in a recent article ‘ How can luxury brands be big in our country when they touch only a small sub decimal point of our population’.

Another aspect is the mind set of the Indians- how many would actually like to spend on a super expensive product?

Bangalore tees off!

The perception of the game is changing – no doubt about it. Once only considered for retirees and the elite, youngsters and corporate ladder-climbers too are showing an interest in the sport.

Bangalore ’s KGA still boasts of a waiting list of anything from 10-20 years, but the city is doing its bit to democratize the game. Seen as a classy way to build networks, Bangalore’s three golf courses see a healthy mix of professionals – IT professionals, doctors, lawyers and expats.

Lifestyle products and home accessories for Bangaloreans

Retail stores focused on exclusive home products and accessories are being launched every next day. What is actually missing is affordable, high quality, well designed products for homes – something IKEA can deliver in the Indian market- ‘affordable solutions for better living’

Nevertheless, the Indian market has some exclusive stores to help you do up your homes in style. Here is a list of some exclusive ones in Bangalore:
Atmosphere, Vittal Mallya road
Drapes avenue, Infantry road
Yamini, Koramangala
Mon Chateau, Indiranagar
Soul scape, Indiranagar
Stanley Boutique, Indiranagar
Kian, M G Road
Cane Boutique, Koramangala
Pause, Vittal Mallya Road

Wanted – Skilled Designers

This one is a happy offshoot of the retail boom in India. With demand for apparel, accessories and the like growing, the sector (which is likely to balloon into a Rs 50,000 crore giant) is seeing an acute talent crunch in terms of designers.

India needs about 8000 to 10,000 designers a year, but produced about 3000 designers in the last four years, not all of them practice their art. The big question is - with an upsurge in talent, will companies also spend more on design than they do now?

Luxury in hospitals

The rich and the famous always ensured that they were comfortable, had personal rooms and had the best doctors on call. And now, its all about the luxe factor.

5 star facilities in hospitals is no longer about personal/ private rooms for patients. Presidential suites and birthing suites are being promoted to the nouveau rich.

Private hospitals are going out of the way to promote these new services to patients. These suites cost nearly Rs 25000-30000/ day and promise a home like feel, high quality of personalized service, communicaton systems etc.

People have the resources to afford this luxury. It is high time hospitals introduced ‘sponsor a patient’ concept for people who can pay well.

It is unfortunate for a country to have a booming medical tourism sector and poor state of public health.

The critical aspect is find a balance- how to ensure equitable access to health services

WWF on luxury: Top luxury brands have average-poor ESG rankings

WWF UK has recently published a report on the environmental impact of the luxury market. The report provides a ‘clear vision and rationale for a more sustainable luxury industry’.

The report includes ranking of top ten luxury brands, including Gucci, YSL IWI, Louis Vuitton, on environmental, social and governance(ESG) performance. No company achieved a grade higher than C. French brand, L’Oreal topped the ESG ranking

This report brings out the need for a paradigm shift in the luxury market – the highest quality product to be the one which ensures maximum benefit to all involved in its production and trade, including the environment.
Brands leading the eco-luxury wave include Osklen, OSISU, John Hardy, Mádara, Linda Loudermilk and Mata de Sesimbra.
With respect to India, the report clearly mentions the luxury vs poverty scenario in the country, high taxation on luxury goods in India, Bollywood celebrities endorsing global brands, emerging consciouness and the consumer behavior.

The report calls for Deeper Luxury- with social and environmental excellence built in.
Great lessons for companies and consumers.

Khadi : India’s textile brand

Khadi is synonymous with India. The spinning wheel or ‘Charkha’ was synonymous with the freedom movement. Khadi is rough in texture but very durable and comfortable material. It is very popular wear during winters in north India.

In recent times, the government has made effort to involved designers and brand managers to design the clothes and also package organic products sold through Khadi & Village industries outlets. Some of the popular products are honey, processed fruits, essential oils, processed cereals and pulses. The national tri color is made from Khadi and is available at these stores. Khadi stores are must visit for the famous ‘Nehru jacket’.

The most famous Khadi Gramudyog store is located at Connaught Place in New Delhi.

Designs in steel

Art d'inox and Magpie are two Indian companies which have made steel look interesting and stylish like never before.

Kitchen and home accessories designed by professional designers have made these companies popular lifestyle brands. No wonder that these companies are exporting their wares too.

Their product range is available at all leading retail stores.

Steel products have become part of living room décor along with crystals, wood and porcelain.

Way to go!

India's Luxury Market

India’s luxury market is expected to grow at 20% for the next 5 years.

According to KSA Technopak, immediate spending priorities for the Indians will be housing, education, travel, high end automobiles, entertainment equipment, home lifestyle imp products.

The boom is expected to happen in men’s clothing, women’s jewelry & accessories, gourmet food & wines.

More and more Indians are talking about Louis Vuitton, Dunhil, Chanel, Fendi, Gucci, Mont Blanc, Van CLeef, Arpels, Zegna, Body Shop, Ferragano, DKNY, Hugo Boss, and the like.

The success of these brands will be determined by their strategy for the Indian markets.

The numbers are there but Indians have been traditionally conservative in spending- will that change?

It appears so.