Apparel Online India Magazine September 1st Issue 2018 | Page 25

H2F
Besides traditional weaving
techniques, hand embroidery too is a
big draw in the international market.
Sachin Gupta, Owner, House
Attire which deals in cushions,
sofa covers and other home decor
items, is enjoying huge demand for
hand-embroidery cushion covers
and sofa covers. “We manufacture our
products both at our units and also
in some nearby villages around our
manufacturing hub,” said Sachin.
He added that being ‘unique’ helps
him get business as machine value
addition can easily be copied.
However, the Indian companies
face a tough competition when
it comes to the luxury market
in home decor sector. Bhavna
Gupta, Owner, Vinaayak Homes,
a company that offers bed covers,
cushion covers, curtains and other
home decor products, affirmed that
both domestic and international
buyers like the products they
offer but they are a bit hesitant to
purchase those because of the price
range the company has set. “We have
a varied range of Banarasi brocade
and other high-end fabrics, and
since we deal in luxury products,
it is difficult for us to cut the cost
for them. We are just a 10-year-old
company and we are working on it,
but buyers need to understand that
if they want exclusivity for their
stores, there is a cost involved,” said
Bhavna.
INDIAN HOME MARKET
ON A ROLL…
While market analysts at Technavio
forecast the global home furnishings
market to grow at a CAGR of 5.98%
during the period 2017-2021, the
domestic home fashion market is
also getting bigger, mostly driven
by the significant increase in
number of homeowners in the recent
years and rising number of women
workers in the country, thereby
spurring a growing interest, among
the newly added segments, for
home products.
India’s home furnishing market
is touted to surpass US $ 5
Manish Saksena, Lead Consultant, Aadyam
Bhavna Gupta, Owner, Vinaayak Homes
billion in revenues by the end of
current year. According to the
India Home Furnishing Market
Forecast & Opportunities 2018
report, India’s home furnishing is
expected to attain a CAGR of about
8 per cent, higher than the global
growth rate.
www.apparelresources.com | SEPTEMBER 1-15, 2018 | Apparel Online India
25