H2F
EXPORTERS DEALING IN HOME LUXURY FORESEE A BRIGHT FUTURE DESPITE GLOBAL SLOWDOWN
For the forecast period of 2015-2020 , the global home décor market registered a CAGR of 4.2 % and is expected to reap in US $ 664 billion by 2020 . A large chunk of this market is attributed to the luxury market , wherein brands like Ralph Lauren , Armani / CASA , Nina Campbell , The Future Perfect , Zoffany are leading the bandwagon with their innovations in fabrics and designs , marketing techniques and steady growth in past few years .
Sarita Handa , Owner , Sarita Handa Exports
Though the US and EU markets are going through an all-time slow , the luxury segment , which accounts for 9.6 % of the home décor market remains largely unaffected . Indian exporters in this segment are mostly connected with the valueadded luxury or high-end market , with a smaller portion dedicated to basics . According to trade data of past two years , the export of cushion covers from India has seen a growth
SM Dwivedi , CEO , Sara Textiles
of 6.67 %, likewise carpets and rugs export have seen a growth of 9.05 % and quilts and other bedding items have grown by 5.38 %. The beds and linen segment currently dominates this market and accounts for around 33 % of the total market revenue .
The global market demands a wide range of handwork , 3-dimensional embroideries and newness in surface and fabric textures when they look at Indian exporters . Innovation in fabric textures , hand embroideries on luxury items such as pillows , towels , duvets , rugs and quilts are what exporters constantly work at . Chandrika Thatai , Co-founder of Fashion Accessories , Gurgaon shares , “ We are seeing growth in the global luxury market for unique and luxurious home décor , though there ’ s a dip in usual FOBs in past years that also depends on customerto-customer .” The company , offering duvets , quilts , comforters , slipcovers , decorative cushions , drapes , scarves , throws , table linen , kitchen linen as well as Christmas products , has many prestigious clients like Zara Home , The White Company , Williams Sonama and many more .
Most global players are keeping the inventory line rather small due to the slowdown . And for Indian exporters , there is a stiff competition with neighbouring countries like China , Pakistan and Bangladesh , so exporters are increasingly capitalising on the country ’ s core strengths like cotton , embroidered handwork by local artisans , prints and other local techniques to stay relevant .
Another major player in the segment , Sarita Handa Exports , Gurgaon also stresses on the importance of Indian techniques . “ The products from China are more machined , while Pakistan appears to have
30 Apparel Online India | MAY 16-31 , 2018 | www . apparelresources . com