|
Not ready was the finding in 2002.
Raring to go is the forecast in 2005. A combination of factors
ranging from real-estate boom to a spurt in the number of
double-income families and a sea change in mindset to skyrocketing
disposable income has set the branded furniture and home
d?cor market in the city abustle.
Leading furniture brand Furniturewalla
shelved its Calcutta plans after conducting a survey in
2002. Things changed enough in less than two years for the
?first furniture brand of the country? to lay store by 6,
Hungerford Street in September 2004.
According to Farhan Furniturewalla,
who commissioned the survey to check wallet power and preference
for trendy lifestyle furniture among Calcuttans, spending
prowess was very much there in 2002, but the house-proud
threshold was low ? few were willing to spend a packet on
doing up their places.
Cut to 2005. ?The taste of the
consumers in Calcutta has transformed from common to classy.
It seems that people have woken up to the fact that comfortable
beds and swanky kitchen accessories are now available in
their city as well,? observes Farhan.
Most major players in the furniture,
home d?cor and accessories markets have got wind of the
cabinet reshuffle ? the Calcuttans? new-found fondness for
filling home space with things classy and costly.
The furniture facts and figures
speak for themselves, with 15 premium stores and a host
of accessories and home d?cor stops springing up in the
past 12 to 18 months.
The flagship store of the Attitude
chain, owned by Universal Specialities Ltd, opened its doors
at 7/1A, Loudon Street on Friday. The Attitude basket comprises
latest international trends and designs in home improvement
products from Tvilum-Scanbirk A/S of Denmark, the ?world?s
largest manufacturer of domestic furniture?, which supplies
to big global brands like IKEA, Home Depot and B&Q.
From bedroom sets and wardrobes
to kitchen solutions and accessories, the Attitude outlet
imports all products from Tvilum-Scanbirk?s five fully automated
furniture factories in Denmark in knockdown, ready-to-assemble
condition. A design centre-cum-room planner is also housed
in the store to provide critical inputs to the customer.
?I personally believe that Calcutta
has huge spending potential, but it lacked options in lifestyle
furniture. You need to give them the right product at the
right price,? says Gaurav Goenka, CEO & customer companion,
Universal Specialities Ltd, owners of the Attitude brand.
Brand building
This bullish statement reflects
the mood in the branded lifestyle furniture segment in the
city, which has seen entry of new brands like Furniturewalla,
Espania, Style Spa and Cocoon in the past one-and-a-half
years. A measure of success: Style Spa?s Camac Street store
is the highest-grossing single outlet in the country.
Demand drivers have contributed
greatly to the growth of this segment. From the buyers?
point of view, the bigger brand names attract attention
and inspire trust. ?These days, people are far more well
travelled, aware and house proud. They know of the brands
that are trustworthy,? says Vikram Arora of Espania, explaining
the trigger behind the sudden spurt in demand for branded
furniture.
From designer beds to dining tables,
Calcuttans are buying branded items priced anywhere between
Rs 25,000 and Rs 1,50,000.
Though no one is ready to hazard
a guess about the volume of the market, industry insiders
say the market is growing fast and there is little to suggest
that the growth run will slow down.
The maturity of the customers
is reflected in the buying patterns, with planned purchase
ruling over impulse buys. If how to buy involves deliberation
and careful decision-making, what to buy is dictated by
worldview. ?The purchases here are in sync with global trends
as the contemporary range is doing very well. People are
going in for lighter and sleeker varieties rather than the
heavier pieces,? adds Farhan.
Ajay Rawla of Cocoon, on Theatre
Road, explains the marketing strategy that has helped the
sprawling, premium, cool and branded lifestyle zones elbow
out the dingy, sawdust-infested and dirt-cheap shops on
BB Ganguly Street.
?The ambience in a lifestyle furniture
store makes people aspire for the same comfort level and
d?cor in their houses,? feels Rawla, adding that clever
positioning has helped reduce the industry?s dependence
on the marriage season for sales.
Though the marketplace has grown
suddenly, there is space for more. ?The rise in competition
will create awareness and deepen the market,? feels Farhan.
D?cor dreams
Flipping for fine furniture is
just half the story, as the city learns to deck up with
a host of home d?cor items. From spending the extra thousands
to getting fresh flower arrangements to buying the latest
crystal collection from Swarovski is the name of the good
life game ? all to make it a dream house.
The annual growth rate in the
d?cor market has been more than 25 per cent in the past
two years and industry insiders expect it to soon cross
the 30-35 per cent mark.
A case in point is the performance
of Swarovski. The two-year-old outlet in Forum is now the
highest selling Swarovski outlet in India. ?Earlier, only
people from the business class were buying such high-end
home d?cor items, but now the client base has broadened,?
says Shree Ballabh Daga, franchisee owner of the Forum outlet.
Tani Lall of Avishkar, the popular
point on Park Street, gives credit to the young Calcuttan,
who doesn?t mind ?spending a few thousands extra? on home
?beautility?.
For Krishna Belani, owner of Mahal
lamp store, the emergence of ?double-income professionals?
as home-builders has been the most significant development
in this segment.
As the expenditure graph soars,
basic buying for the home is travelling along exclusive
lines. Drapes, for example, sell swift at Rs 1,500 a metre.
From furniture to flowers, doing
up homes is the way to live. When Ferns and Petals, a national
flower boutique chain, set up store in Calcutta last December
? after opening at least 30 other shops across the country
? the reason for reluctance was apparent.
?Initially, the company didn?t
think Calcutta had the right market,? says Indira Agarwal,
franchisee of Ferns and Petals in Calcutta.
But in the past six months, the
average bill on flowers and accessories from regular customers
has been vaulting Rs 500 per week.
?We charge anything between Rs
800 and Rs 1,000 per arrangement of artificial flowers and
there are people here who have 15 of these in their homes,?
reveals Indira.
Today, a bed of roses is what
the Calcuttan wants to go back home to.
Himika Chaudhuri and Zeeshan
Jawed
Picture by Pabitra Das
|