Wednesday, July 29, 2015
Upcoming market of Bed and Bath Linen
In today’s world and era of luxurybed and bath linen, anything which is exclusive and unique is judged on the basis of thread count. You are not living 1/3rd of your life if you are unaware about thread count. It is the number of thread in one inch square of fabric. Any linen which has higher thread count is considered luxury and very expensive.
A decade ago, luxury linen market was hardly noticeable, however the scenario has changed and furnishing industry has taken a huge jump .Luxury furnishing market in India is booming out to be a big giant and claims the market share of Rs 16,500 crore.
As per the research from E&Y, one of the top 4 consulting firms, Luxury home furnishing market is on all-time high for last 2-3 years.
But how do you measure luxury? Does it depends upon anything being costly? There has been a huge debate over this and couple of giant retail owners from this market claims that any linen falls within or beyond the range of 1500-1700 per meter should fall into this section. Indian luxury home decor market is a high potential one and will grow almost 5 times in next 10 years.
So what do you think are the potential customers of this segment? Over the ages, Indian customer especially females have been price cautious when it comes to investing in Good bed and bathlinen. May they were not aware of the comfort they can derive by having a luxury bed and bath linen. About 3 years ago a selected class of people had that mind set of investing in luxury furnishing and décor but the time has changed. With increasing trend of E-Commerce coming in place people have got the opportunity of exploring brands and products without hopping in the market. They have also got the idea of what’s best and desired basis their individual needs.
Earlier luxury décor brands were only catering to masses like film stars, celebrities, industrialists and Luxury hotels. But now High profile CEOs of multinational companies, real estate giants and high class jetsetters are the fresh clienteles for this market. Upcoming tier 2 cities and metros are adding to high demand of luxury décor.
The current market size of Luxury furnishing has increased from 250-300 crores which is total of 3.4% of existing market. It is expected to grow about 15-20% by each following year.
Bed and Bath linen are contributing around 68% of entire furnishing investment in each home.
This highly growing Linen market has a reason to grow. With upcoming real estate market boom, luxury has changed its name to necessity. Every luxury home needs a good décor hence comes the demand for finest bed and bath linen. A quality bed and bath linen is a status symbol so everyone wants to possess at least 2-3 pair of ace bed sheets and bath linens.
Though the Home Furnishing industry is still considered at “testing water” stage but this segment will push all boundaries in coming years and make its strong foot in upholstery market.
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