Obeetee, India’s leading carpet maker in the organised sector, expects a good growth in the domestic market, helped by a more mature Indian customer and a formalisation of the home decor sector.
The company, which has so far focused on exports, has outlined retail expansion in big cities across the country to create multiple touchpoints for the potential buyers.
Obeetee is hoping to end FY23 with a topline of Rs 800 crore and the target is for another 25 per cent jump in sales, taking the turnover to Rs 1,000 crore by FY24.
“We have entered the domestic market only three years back. The response has been excellent so far,” Rudra Chatterjee, chairman of Obeetee, said. The company is hoping to touch sales of Rs 100 crore from India in two years.
Obeetee has established three expansive retail outlets spanning 5,000 sq ft each in New Delhi, Mumbai and Hyderabad. A smaller studio showroom was inaugurated in Calcutta on Chowringhee earlier this week. At least three more large outlets are being planned in 2023.
Speaking at the city launch, Angelique Dhama, CEO of Obeetee Retail, said, “Obeetee’s new studio in Calcutta is a slightly different concept, showcasing hand-knotted and luxurious carpets in a colonial-themed studio-store.”
A retail presence will allowObeetee to bring its repertoire of hand-made and hand-tufted carpets close to architects and interior designers, who still drive the bulk of the offtake. However, there are a growing number of buyers walking into the stores making individual purchases, Dhama added.
Founded by three British gentlemen F.H. Oakley, F.H.Bowden and J.A.L Taylor, in 1920 in Mirzapur, Uttar Pradesh, the company was acquired by Calcutta-basedLuxmi Group, which is a major producer of tea, in 1998.