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TABLE OF CONTENTS
Executive Summary
India Furniture Market
India Home Furniture Market
Trade Scenario of Furniture in India
Children’s Furniture Market
India Mattress Market
India Online Furniture Market
Strategy of Major Players
Future Analysis for Home Furniture Market
Analyst Recommendations
1. Research Methodology
1.1. Market Definitions
1.2. Abbreviations
1.3. Exchange Rates
1.4. Market Size and Modeling
General Approach – Market Sizing
Variables (Dependent and Independent)
Multi Factor Based Sensitivity Model
Final Conclusion
2. India Furniture Market Introduction and Size, FY’2010-FY’2015
2.1. Organized and Unorganized Furniture Market
2.2. By End Users, FY’2015
Office Furniture
Hotel Furniture
Industrial Furniture
3. India Home Furniture Market Introduction
3.1. Value Chain Analysis
Major Problems in Value Chain
Stock Keeping Units
Impact of Human Resources at Retail Stores
4. India Home Furniture Market Size, FY’2010-FY’2015

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4.1. By Revenues, FY’2010-FY’2015
5. India Home Furniture Market Segmentation, FY’2010-FY’2015
5.1. By Product Categories, FY’2015
5.1.1. Bedroom Furniture, FY’2015
Organized Bed Market, FY’2015
Wardrobe Market, FY’2015
5.1.2. Living Room Furniture, FY’2015
Material Used in Sofas, FY’2015
Types of Sofa by Seating Capacity, FY’2015
Types of Sofa/ Center Table, FY’2015
5.1.3. Dining Room Furniture, FY’2015
Seating Capacity of Dining Table, FY’2015
Material of Dining Table Top, FY’2015
5.1.4. Kitchen Furniture, FY’2015
5.1.4.1. India Modular Kitchen Market
India Modular Kitchen Introduction and Market Size FY’2010-FY’2015
5.1.4.2. India Modular Kitchen Market Segmentation
By Organized and Unorganized Market, FY’2010-FY’2015
By Major Cities, FY’2015
By Organized Retail and Project Sales, FY’2015
By Place of Origin, FY’2015
By Origin of Imported Product, FY’2015
5.1.4.3. Trends and Developments in India Modular Kitchen
Establishment of Exclusive Showrooms
Expansion to E-commerce Channels
Strategic Alliances
Continuous Influx of Foreign Brands
5.1.4.4. India Modular Kitchen Future Outlook and Projections, FY’2016-FY’2020
5.2. Regional Sales, FY’2015
Western Region
Southern Region
Northern Region

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Eastern Region
5.3. By Target Group, FY’2015
5.4. By Age Group, FY’2015
5.5. By Type of Cities, FY’2015
5.6. By Distribution Channel, FY’2015
5.7. By Material Used in Wood, FY’2015
6. Customer Preference and Paradigm in India Home Furniture Market
Case 1 – Married Couples – 28% (Leading Choice Makers) – 140 Respondents
Case 2 – Young Adults – 25% (Leading Choice makers) – 125 Respondents
Case 3 – Grand Parents – 27% (Influencers)
Case 4 – Architects, Construction Managers, Interior Designers and Others – 20% (Informed
Customers)
6.1. By Region – Coimbatore, Kochi, Nagpur and Bhopal
7. India Furniture Market Trade Scenario, FY’2010-FY’2015
7.1. By Imports (Value, Volume, Major Destination), FY’2010-FY’2015
Import Duty
7.2. Snapshot on Trade with Malaysia
Trade
Pre-requisite to Set up a Foreigner Owned Business in Malaysia
Rating of Doing Business (DB)
7.3. Snapshot on Trade with China
Pre-requisite to Set up a Foreigner Owned Business in China
Rating of Doing Business (DB)
7.4. Snapshot on Trade with Turkey
Pre-requisite to Set up a Foreigner Owned Business in Turkey
Rating of Doing Business (DB)
7.5. Snapshot on Trade with Indonesia
Pre-requisite to Set up a Foreigner Owned Business in Indonesia
Rating of Doing Business (DB)
7.6. By Exports (Value, Volume, Major Destination), FY’2010-FY’2015
8. Competitive Analysis of Major Players in India Home Furniture Market, FY’2015
8.1. Competitive Landscape of Major Players in India Home Furniture Market
Product Portfolio and Pricing

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Analysis of Retail Stores (Average Walk-ins, Conversion Rate, Average Margins and Others)
8.2. Snapshot of Major Players in India Home Furniture Market
8.3. Market Share of Major Players in India Organized Home Furniture Market, FY’2015
8.3.1. Godrej Interio
Company Overview
Investments/ Alliance
Business Strategies
Strengths and Weaknesses
Franchising Scenario
8.3.2. Nilkamal
Company Overview
Business Strategies
Strengths and Weaknesses
8.3.3. Durian
Company Overview
Strengths and Weaknesses
8.3.4. Damro
Company Overview
Business Strategy
Strengths and Weaknesses
8.3.5. Home Town
Company Overview
Business Strategies
Strengths and Weaknesses
8.3.6. Style Spa
Company Overview
Business Strategies
Franchising Scenario
Strengths and Weaknesses
8.3.7. Pepperfry
Company Overview
Business Strategies

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Strengths and Weaknesses
8.3.8. Urban Ladder
Company Overview
Business Strategies
Strengths and Weaknesses
8.3.9. Snapdeal
Company Overview
Business Strategies
Strengths and Weaknesses
8.3.10. Stitchwood
Company Overview
Business Strategies
8.3.11. Home Center
Company Overview
Business Strategies
8.3.12. Timbor Home Ltd.
Company Overview
Business Strategies
8.4. Landscape of Major International Players in India Furniture Market
8.4.1. Houzz
Company Overview
Business Strategies
8.4.2. The IKEA Story
Unique Selling Point
Challenges Faced
9. Trends and Developments in India Home Furniture Market
Shift in Consumer Perception
Reforms Made by Brands
Advent of Online Furniture Retailing
Elevation in Customer Knowledge about Wood Materials
Influx of Foreign Brands
10. Entry Barriers in India Home Furniture Market

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10.1. Offline Retailers
Competition from Different Format Stores
High Marketing/ Promotion Costs
Supply Chain Inefficiency
10.2. Online Retailers
Soaring Competition amongst E-commerce Players
Escalation in Cost of Operation
Low Internet Connectivity in Rural Areas
Significant Presence of Offline Retailers
11. Business and Working Model in India Furniture Market
11.1. In-house Manufacturing Model
11.2. Import Based Model
11.3. Online Model
Marketplace Model
B2B2C Model
12. Investment Model to Setup a Furniture Manufacturing Unit in India
Assumptions
Plant and Machinery
Office Furniture and Equipment
Human Resources
Raw Materials Required for Bed set
Raw Materials Required for Dining set
Raw Materials Required for Sofa set
Raw Materials Required for Almirah
Raw Materials Required for Kitchen Cabinet
Financing
Expected Sales
13. SWOT Analysis
14. Government Regulations in India Furniture Market
14.1. National Retail Pricing Policy
14.2. Impact of GST on Retail
Without GST

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Under GST
Advantages of GST
15. Supplier Selection Criteria
16. Snapshot on India Children’s Furniture Market
Introduction and Market Size, FY’2010-FY’2015
Market Segmentation, FY’2015
Future Outlook and Projections, FY’2016-FY’2020
17. Snapshot on India Online Furniture Market
17.1. Market Share of Major Players in India Online Furniture Market, FY’2015
18. Snapshot on India Mattress Market
18.1. India Mattress Market Segmentation
Type of Mattress
Regional Demand
Organized and Unorganized Market
18.2. Competitive Landscape of Major Players in India Mattress market
18.3. Opportunities in India mattress market
Rise in the Purchasing Power of Households
Organized Retail Sector
Rising Demand of Hybrid Mattresses
18.4. India Mattress Market Future Outlook
19. India Home Furniture Market Future Projections and Outlook, FY’2016-FY’2020
19.1. Cause and Effect Relationship Analysis of India Organized Home Furniture Market
20. Analyst Recommendations
Suggestion 1: Integrated Business Model
Suggestion 2: Source of Raw Materials
Suggestion 3: Automated Manufacturing
Suggestion 4: Focused Marketing and Distribution Strategies
Suggestion 5: Online + Mobile Product Portfolio
Suggestion 6: Addition of Furnishing Products
Suggestion 7: Efficient Training for Sales Representatives
Suggestion 8: Combination of Retail and Project Sales
Suggestion 9: Assist Customer in Decision Making Process

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Suggestion 10: After Sales Services
Suggestion 11: Store Layout
Suggestion 12: Strategic Alliance
Suggestion 13: Sound Logistics Network
Opportunities
Entry Barriers
Observed Failures in the Market
Prospective Product Category
Price Points
Phase-Wise Growth Plan
Disclaimer
Contact Us

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LIST OF FIGURES
Figure 2 1: India Furniture Market Size on the Basis of Revenue in INR Billion, FY’2010-FY’2015
Figure 2 2: India Furniture Market by Organized/Unorganized on the Basis of Revenues in
Percentage (%), FY'2010-FY'2015
Figure 2 3: India Organized Furniture Market Segmentation on the Basis of End User by
Revenues in Percentage (%), FY’2015
Figure 2 4: India Office Furniture Segmentation by Contract Furniture or Ready to Use Office
Furniture on the Basis of Revenues, FY’2015
Figure 3 1: General Value Chain Analysis of India Home Furniture Market
Figure 4 1: India Organized Home Furniture Market Size by Revenues in INR Million, FY'2010-
FY'2015
Figure 5 1: India Home Furniture Market Segmentation on the Basis of Product Categories by
Revenues in INR Billion, FY'2015
Figure 5 2: India Home Furniture Market Segmentation by Major Furniture Categories on the
Basis of Revenue in Percentage, FY’2015
Figure 5 3: India Bedroom Furniture Market Segmentation by Type of Products on the Basis of
Revenue in Percentage, FY’2015
Figure 5 4: India Bed Market Segmentation by Type of Beds on the Basis of Revenue in
Percentage, FY’2015
Figure 5 5: India Wardrobe Market Segmentation by Type of Wardrobes on the Basis of
Revenue in Percentage, FY’2015
Figure 5 6: India Living Room Furniture Market Segmentation by Types of Products on the Basis
of Revenue in Percentage, FY’2015
Figure 5 7: India Sofa Market Segmentation by Type of Material Used on the Basis of Revenue in
Percentage, FY’2015
Figure 5 8: India Sofa Market Segmentation by Seating Capacity on the Basis of Revenue in
Percentage, FY’2015
Figure 5 9: India Center Table Market Segmentation by Material Used on the Basis of Revenue
in Percentage, FY’2015
Figure 5 10: India Dining Table Market Segmentation by Seating Capacity on the Basis of
Revenue in Percentage, FY’2015
Figure 5 11: India Dining Table (Home Furniture) Market Segmentation by Material Used on the
Basis of Revenue in Percentage, FY’2015
Figure 5 12: India Modular Kitchen Market Size on the Basis of Revenue in INR Million, FY'2010-
FY'2015
Figure 5 13: India Modular Kitchen Market Segmentation by Organized and Unorganized
Market on the Basis of Revenue in Percentage, FY’2015

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Figure 5 14: India Modular Kitchen Market Segmentation by Major Cities on the Basis of
Revenue in Percentage, FY’2015
Figure 5 15: India Organized Modular Kitchen Market Segmentation by Type of Sales (Retail and
Project) on the Basis of Revenue in Percentage, FY'2010-FY'2015
Figure 5 16: India Modular Kitchen Market Segmentation by Domestic Manufacturing and
Imports on the Basis of Revenue in Percentage, FY’2015
Figure 5 17: India Modular Kitchen Market Segmentation by Origin of Imported Product on the
Basis of Revenue in Percentage, FY’2015
Figure 5 18: India Modular Kitchen Future Projections in INR Million, FY'2016-FY'2020
Figure 5 19: India Home Furniture Market Segmentation by Regional Sales on the Basis of
Revenue in Percentage, FY’2015
Figure 5 20: India Home Furniture Market Segmentation by Income Class on the Basis of
Revenue in Percentage, FY’2015
Figure 5 21: India Home Furniture Market Segmentation by Age Group on the Basis of Revenue
in Percentage, FY’2015
Figure 5 22: India Home Furniture Market Segmentation by Type of Cities on the Basis of
Revenue in Percentage, FY’2015
Figure 5 23: India Home Furniture Market Segmentation by Distribution Channel on the Basis of
Revenue in Percentage, FY’2015
Figure 5 24: India Home Furniture Market Segmentation by Type of Material on the Basis of
Production in Percentage, FY’2015
Figure 5 25: India Home Furniture Market Segmentation by Type of Material on the Basis of
Revenue in Percentage, FY’2015
Figure 5 26: India Home Furniture Market Segmentation by Type of Wood Material on the Basis
of Production Volume in Percentage, FY’2015
Figure 8 1: Market Share of Major Players in India Organized Home Furniture Market on the
Basis of Revenues in Percentage (%) and Revenues in INR Million, FY’2015
Figure 9 1: Personal Disposable Income of India in INR Billion, FY'2010-FY'2015
Figure 11 1: In-House Manufacturing Business Model
Figure 11 2: Import Based Business Model
Figure 11 3: Market Place Business Model in India Home Furniture Market
Figure 11 4: B2B2C Business Model in India Home Furniture Market
Figure 16 1: Supplier Selection Matrix in India Home Furniture Market
Figure 16 1: India Children's Furniture Market Size on the Basis of Revenue in INR Million,
FY'2010-FY'2015
Figure 16 2: India Organized Children’s Market Segmentation by Product Type on the Basis of
Revenue in Percentage, FY’2015

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Figure 16 3: India Children's Furniture Future Projections on the Basis of Revenue in INR Million,
FY'2010-FY'2015
Figure 17 1: Market Share of Major Players in India Online Furniture Market on the Basis of
GMV in Percentage (%), FY’2015
Figure 17 2: Market Share of Major Players in India Online Furniture Market on the Basis of
GMV in Percentage (%), FY’2015
Figure 19 1: India Home Furniture Market Future Projections on the Basis of Revenue in INR
Million, FY’2016-FY’2020
Figure 20 1: Business Model for Online Furniture Companies in India
Figure 20 2: Recommended Furnishing Items for Furniture Stores
Figure 20 3: Furnishing Product Pricing Analysis in INR
Figure 20 4: India Home Furnishing Market Size in INR Billion, FY'2010-FY'2015
Figure 20 5: Model of an Ideal Retail Furniture Store Layout

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LIST OF TABLES
Table 1 1: Currency Exchange Rate to Indian Rupee
Table 1 2: Correlation Matrix for India Home Furniture Market
Table 1 3: Regression Coefficients Output
Table 2 1: India Furniture Market by Organized/Unorganized on the Basis of Revenues in INR
Billion, FY'2010-FY'2015
Table 2 2: India Organized Furniture Market Segmentation on the Basis of End User by
Revenues in INR Billion, FY’2015
Table 2 3: Total Hotel Room Supply on the Basis of Major Cities in India
Table 2 4: Proposed Supply of Hotel Rooms in India across Major Cities, FY’2020
Table 2 5: Sample Budget for Furniture in a Single 3 Star Hotel Room
Table 2 6: Sample Budget for Furniture in Common Area of a 3 Star Hotel
Table 2 7: Sample per Unit Price Range for Major Furniture Products in Restaurant or Cafe
Table 3 1: Total Number of Census Houses in India, 2011
Table 3 2: Total Number of Occupied Houses Used as Residence and Non-Residence in India,
2011
Table 3 3: Comparative Snapshot between Organized, Unorganized and Online Home Furniture
Market in India
Table 3 4: Major Unorganized Furniture Clusters in Delhi, Mumbai, Kolkata, Chennai and
Hyderabad
Table 3 5: Total Number of Employees of Furniture Companies in India, FY’2015
Table 4 1: Distribution of Total Number of Census Houses, Occupied Houses and Occupied as
Residences on the Basis of States in India, 2011
Table 5 1: India Home Furniture Market Segmentation by Major Furniture Categories on the
Basis of Revenue in INR Million, FY’2015
Table 5 2: India Bedroom Furniture Market Segmentation by Type of Products on the Basis of
Revenue in INR Million, FY’2015
Table 5 3: India Bed Market Segmentation by Type of Beds on the Basis of Revenue in INR
Million, FY’2015
Table 5 4: India Wardrobe (Home Furniture) Market Segmentation by Type of Wardrobes on
the Basis of Revenue in INR Million, FY’2015
Table 5 5: India Living Room Furniture Market Segmentation by Types of Products on the Basis
of Revenue in INR Million, FY’2015
Table 5 6: India Sofa Market Segmentation by Type of Material Used on the Basis of Revenue in
INR Million, FY’2015

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Table 5 7: India Sofa Market Segmentation by Seating Capacity on the Basis of Revenue in INR
Million, FY’2015
Table 5 8: India Center Table Market Segmentation by Material Used on the Basis of Revenue in
INR Million, FY’2015
Table 5 9: India Dining Table Market Segmentation by Seating Capacity on the Basis of Revenue
in INR Million, FY’2015
Table 5 10: India Dining Table (Home Furniture) Market Segmentation by Material Used on the
Basis of Revenue in INR Million, FY’2015
Table 5 11: India Modular Kitchen Market Size on the Basis of Unit Sales, FY'2010-FY'2015
Table 5 12: India Modular Kitchen Market Segmentation by Organized and Unorganized Market
on the Basis of Revenue in INR Million, FY’2015
Table 5 13: India Modular Kitchen Market Segmentation by Major Cities on the Basis of
Revenue in INR Million, FY’2015
Table 5 14: India Organized Modular Kitchen Market Segmentation by Type of Sales (Retail and
Project) on the Basis of Revenue in INR Million, FY’2010-FY’2015
Table 5 15: India Modular Kitchen Market Segmentation by Domestic Manufacturing and
Imports on the Basis of Revenue in INR Million, FY’2015
Table 5 16: India Modular Kitchen Market Segmentation by Origin of Imported Product on the
Basis of Revenue in INR Million, FY’2015
Table 5 17: India Modular Kitchen Market Future Projections by Retail and Project Sales on the
Basis of Revenue in INR Million, FY’2016-FY’2020
Table 5 18: India Modular Kitchen Market Future Projections on the Basis of Unit Sales,
FY'2016-FY'2020
Table 5 19: Customer Preference of Furniture in Across Different Regions India
Table 5 20: India Home Furniture Market Segmentation by Regional Sales on the Basis of
Revenue in INR Million, FY’2015
Table 5 21: Customer Preferences for Furniture in India on the Basis of Income Groups
Table 5 22: India Home Furniture Market Segmentation by Income Class on the Basis of
Revenue in INR Million, FY’2015
Table 5 23: India Home Furniture Market Segmentation by Age Group on the Basis of Revenue
in INR Million, FY’2015
Table 5 24: India Home Furniture Market Segmentation by Type of Cities on the Basis of
Revenue in INR Million, FY’2015
Table 5 25: India Home Furniture Market Segmentation by Distribution Channel on the Basis of
Revenue in INR Million, FY’2015
Table 5 26: Comparison between Exclusive Showrooms (including destination stores), Dealers
and Online Websites in India Home Furniture Market

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Table 5 27: India Home Furniture Market Segmentation by Type of Material on the Basis of
Revenue in INR Million, FY’2015
Table 6 1: Sample Composition of Interviewees in India Home Furniture Market
Table 6 2: Customer Preference Paradigm of Married Couples on the Basis of Material of
Product, FY’2015
Table 6 3: Customer Preference Paradigm of Married Couples on the Basis of Purchase Decision
Variable, FY’2015
Table 6 4: Customer Preference Paradigm of Married Couples on the Basis of Income Group by
Average Price of Product in INR, FY’2015
Table 6 5: Customer Preference Paradigm of Young Adults on the Basis of Material of Product,
FY’2015
Table 6 6: Customer Preference Paradigm of Young Adults on the Basis of Purchase Decision
Variable, FY’2015
Table 6 7: Customer Preference Paradigm of Young Adults on the Basis of Income Group by
Average Price of Product, FY’2015
Table 6 8: Customer Preference Paradigm of Architects, Construction Manager, Designer and
Others on the Basis of Income Group by Average Price of Product, FY’2015
Table 6 9: Competitive Snapshot of Coimbatore, Kochi, Ludhiana, Nagpur and Bhopal for India
Furniture Market, FY’2015
Table 7 1: India Furniture Market Imports by Product Categories on the Basis of Import Value in
Percentage, FY'2014-FY'2015
Table 7 2: India Furniture Market Imports by Product Categories on the Basis of Import Value in
INR Million, FY'2014-FY'2015
Table 7 3: India Furniture Market Imports by Product Categories on the Basis of Import Volume
in Thousands, FY'2014-FY'2015
Table 7 4: India Furniture Market Imports by Product Categories on the Basis of Major Import
Destination in Percentage and INR Million, FY'2015
Table 7 5: India Furniture Market Average Import Prices of Different Furniture Products in INR,
FY'2015
Table 7 6: India Furniture Market Average Import Prices of Different Furniture Products for
Malaysia, China, Indonesia and Turkey in INR, FY'2015
Table 7 7: Import Duty on Furniture Items in India, FY'2015
Table 7 8: Import Duty on Wood Logs in India, FY'2015
Table 7 9: Timber Product Exports from Malaysia (1stJanuary to 30thJune), 2015
Table 7 10: Doing Business Ranking of Malaysia on the Basis of Defined Parameters, 2014-2015
Table 7 11: Comparison of Trading Across Borders of Malaysia, East Asian & Pacific and OECD
Countries on the Basis of Defined Parameters, 2014-2015

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Table 7 12: Nature of Export Procedures in Malaysia, 2015
Table 7 13: Nature of Import Procedures in Malaysia, 2015
Table 7 14: List of Certified Timber Suppliers from Malaysia
Table 7 15: Timber Product Exports from China, 2014
Table 7 16: Unorganized Furniture Clusters in China
Table 7 17: Doing Business Ranking of China on the Basis of Defined Parameters, 2014-2015
Table 7 18: Comparison of Trading Across Borders of China, East Asian & Pacific and OECD
Countries on the Basis of Defined Parameters, 2014-2015
Table 7 19: Nature of Export Procedures in China, 2015
Table 7 20: Nature of Import Procedures in China, 2015
Table 7 21: List of Timber Suppliers from China
Table 7 22: Timber Product Exports from Turkey, 2014
Table 7 23: Doing Business Ranking of Turkey on the Basis of Defined Parameters, 2014-2015
Table 7 24: Comparison of Trading Across Borders of Turkey, East Asian & Pacific and OECD
Countries on the Basis of Defined Parameters, 2014-2015
Table 7 25: Nature of Export Procedures in Turkey, 2015
Table 7 26: Nature of Import Procedures in Turkey, 2015
Table 7 27: List of Timber Suppliers from Turkey
Table 7 28: Timber Product Exports from Indonesia, 2014
Table 7 29: Doing Business Ranking of Indonesia on the Basis of Defined Parameters, 2014-2015
Table 7 30: Comparison of Trading Across Borders of Indonesia, East Asian & Pacific and OECD
Countries on the Basis of Defined Parameters, 2014-2015
Table 7 31: Nature of Export Procedures in Indonesia, 2015
Table 7 32: Nature of Import Procedures in Indonesia, 2015
Table 7 33: List of Timber Suppliers from Indonesia
Table 7 34: India Furniture Market Exports by Product Categories on the Basis of Export Value in
Percentage, FY'2014-FY'2015
Table 7 35: India Furniture Market Exports by Product Categories on the Basis of Export Value in
INR Million, FY'2014-FY'2015
Table 7 36: India Furniture Market Exports by Product Categories on the Basis of Export Volume
in Thousands, FY'2014-FY'2015
Table 7 37: India Furniture Market Exports by Product Categories on the Basis of Major Export
Destination in Percentage and INR Million, FY'2015
Table 7 38: India Furniture Market Average Export Prices of Different Furniture Products in INR,
FY'2015

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Table 8 1: Pricing Analysis of Bedroom Furniture across Different Companies in India Home
Furniture Market, FY’2015
Table 8 2: Pricing Analysis of Living Room Furniture across Different Companies in India Home
Furniture Market, FY’2015
Table 8 3: Pricing Analysis of Dining Room Furniture across Different Companies in India Home
Furniture Market, FY’2015
Table 8 4: Competitive Landscape of Major Players in India Home Furniture Market, 2015
Table 8 5: Analysis of Furniture Retail Stores in India on the Basis of Key Performance Indicators
(Average Walk-ins, Conversion Rate, Average Margins and Others), 2015
Table 8 6: Number of Retail Store of Major Brands across 20 Major Cities in India, as of
December 2015
Table 8 7: Average Size of Retail Stores of Major Players in India Home Furniture Market, as of
December 2015
Table 8 8: Total Number of Stores, Average Revenue per Sq. Ft. and Total Revenue of Major
Players in the India Home Furniture Market on the Basis of Store Size, FY'2015
Table 8 9: Competitive Snapshot of Major Players in India Home Furniture Market, FY’2015
Table 8 10: Competitive Snapshot of Major Destination Stores in India Home Furniture Market,
FY’2015
Table 8 11: Competitive Snapshot of Major Online Players in India Home Furniture Market
Table 8 12: Strengths and Weaknesses of Godrej Interio
Table 8 13: Franchisee Requirement for Godrej Interio
Table 8 14: Nilkamal Manufacturing Plants in India
Table 8 15: Strengths and Weaknesses of Nilkamal
Table 8 16: Strengths and Weaknesses of Durian
Table 8 17: Strengths and Weaknesses of Damro
Table 8 18: Strengths and Weaknesses of Home Town
Table 8 19: Strengths and Weaknesses of Style Spa
Table 8 20: Strengths and Weaknesses of Pepperfry
Table 8 21: Strengths and Weaknesses of Urban Ladder
Table 8 22: Strengths and Weaknesses of Snapdeal
Table 8 23: Strengths and Weaknesses of Home Center
Table 8 24: Competitive Snapshot of Other Renowned Furniture Retailers, FY'2015
Table 11 1: Comparative Analysis of In-house Manufacturing and Import Business Models
Table 12 1: Assumptions Considered in the Investment Model
Table 12 2: Factory Floor Size in Sq. Ft.

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Table 12 3: Annual Production Mixture for Manufacturing Output
Table 12 4: Machinery Required for Manufacturing of Wooden Furniture
Table 12 5: Machinery Required for Manufacturing of Steel Furniture
Table 12 6: Required Office Furniture for General Usage
Table 12 7: Office Equipment Required
Table 12 8: Human Resource Required for Wooden Furniture Manufacturing Unit
Table 12 9: Human Resource Required for Steel Furniture Manufacturing Unit
Table 12 10: Raw Materials Required for Production of Superior Quality Bed Set
Table 12 11: Raw Materials Required for Production of Fine Quality Bed Set
Table 12 12: Raw Material Required for Production of Normal Quality Bed Set
Table 12 13: Raw Material Required for Production of Superior Quality Dining Set
Table 12 14: Raw Material Required for Production of Fine Quality Dining Set
Table 12 15: Raw Material Required for Production of Normal Quality Dining Set
Table 12 16: Raw Material Required for Production of Superior Quality Sofa Set
Table 12 17: Raw Material Required for Production of Fine Quality Sofa Set
Table 12 18: Raw Material Required for Production of Normal Quality Sofa Set
Table 12 19: Raw Material Required for Production of Almirah
Table 12 20: Raw Material Required for Production of Superior Quality Kitchen Cabinet
Table 12 21: Raw Material Required for Production of Fine Quality Kitchen Cabinet
Table 12 22: Raw Material Required for Production of Normal Quality Kitchen Cabinet
Table 12 23: Assumptions for Operation of Furniture Manufacturing Plant
Table 12 24: Means of Finance for Establishment of Furniture Manufacturing Unit
Table 12 25: Annual Cost of Production for Furniture Manufacturing Unit
Table 12 26: Financial Indicators for a Furniture Manufacturing Plant in India
Table 12 27: Expected Sales for a Furniture Manufacturing Plant in India
Table 12 28: Summarized Revenues for Different Product Categories for a Manufacturing Plant
in India
Table 13 1: SWOT Analysis of Manufacturers and Retailers in India Home Furniture Market
Table 13 2: SWOT Analysis of India Online Furniture Market
Table 13 3: Comparative Analysis of India Furniture Retail Industry with the Emerging Online
Channel for Furniture Sales
Table 14 1: India Furniture Industry Associations
Table 14 2: Comparison between Central GST and State GST

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Table 14 3: Comparative Analysis of Product Pricing Cycle on the Basis of VAT Model and GST
Model
Table 15 1: Decision Making Process for Supplier Selection in India Furniture Market
Table 16 1: India Children's Market Segmentation by Unorganized and Organized Market on the
Basis of Revenue in INR Million, FY'2010-FY'2015
Table 16 2: India Organized Children’s Furniture Market Segmentation by Product Type on the
Basis of Revenue in INR Million, FY’2015
Table 16 3: India Children's Furniture Market Future Projections by Unorganized and Organized
Market on the Basis of Revenue in INR Million, FY'2010-FY'2015
Table 17 1: Snapshot of Major Players in India Online Furniture Market
Table 18 1: Snapshot of Company/ Brand Profiles of Major Players with their Business
Overview, Key locations and Mattresses Products in India Mattress Market
Table 18 2: Product Portfolio by Price Range of Major Players/Brands in India Mattress Market
Table 19 1: Estimated Number of Housing Units Required in India, 2022
Table 19 2: Cause and Effect Relationship Analysis between Industry Factors and Expected
Industry Prospects in India Home Furniture Market
Table 20 1: Source of Raw Material by Leading Online Furniture Companies in India
Table 20 2: List of Automated Machinery Used in Furniture Manufacturing Plant in India
Table 20 3: List of Leading E Commerce Web Development Companies in India
Table 20 4: Major Marketing and Distribution Strategies for Domestic Furniture Manufacturers
Table 20 5: Packages Prices and Offerings by Kartrocket (DIY E-Commerce Website)
Table 20 6: Packages Prices and Offerings by Zepo (DIY E-Commerce Website)
Table 20 7: Packages Prices and Offerings by Buildabazaar (DIY E-Commerce Website)
Table 20 8: Sales Training Procedure Adopted by Major Online Furniture Retailers in India
Table 20 9: Strategical Approach of Furniture Retailer based upon the Consumer Preferences
Table 20 10: After Sale Service-Customer Care Team for Major Online Furniture Companies in
India
Table 20 11: Registered Sellers for Major Online Furniture Companies in India
Table 20 12: Logistics Infrastructure for Major Online Furniture Players in India
Table 20 13: Major Entry Barriers in India Furniture Market and Resolution
Table 20 14: Major Handicraft Clusters in India
Table 20 15: Recommended Average Retail Pricing of Home Furniture Products
Table 20 16: Share of Private Label and In House Brand for Major Online Furniture Players on
the Basis of Total SKUs
Table 20 17: Growth Strategies for Upcoming Furniture Companies in the Sector

19

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Table 20 18: Decision Making Process determined by Several Parameters to Make or Buy
Furniture Products in India Furniture Market

20

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Pages: 310
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Key Highlights of the Report
- Discussed leading players,
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- Industry statistics from
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- Detailed discussion of the
market segments
- Opportunities let by
industry developments
- Entry Barriers and
Prerequisite in Online and
Offline Furniture Market
.
HOW THE INDIA FURNITURE MARKET IS POSITIONED?
The furniture market in the country has
The establishment of MNCs in
been immensely driven by a substantial
metropolitan cities in the country has
growth in the real estate, tourism and
also impelled the sales of office furniture,
hospitality sector over the years. In
thereby aiding the overall market growth
FY’2015, the furniture market in India
in the last few years The Office segment
clocked revenue worth INR ~ billion
in the furniture market has garnered ~%
which increased by ~% from INR ~ billion
of the market revenues as observed in
in FY’2014. The furniture market has
FY’2015 which is relatively smaller
experienced a substantial growth in the
proportion of the furniture market in the
last few years. There are several factors
country. Over ~% of the office furniture is
which have led to this growth such as
covered by contract furniture which is
surge in real estate and housing activity,
customized by various organized stores
increasing growth in the information
especially in big retail chains
technology and services sectors, growing
In FY’2015, hotel furniture accounted for
affluence both in the urban and rural
areas and higher proportion of middle a share of ~% in the overall sales of
class Indians aspiring for better lifestyle. furniture in the country garnering
Additionally, the import of furniture from revenues worth INR ~ billion. The major
reason for its low demand is that most of
countries such as China, Malaysia,
Indonesia and Bangladesh is also being the furniture in offices, hotels, cafes and
driven by the urban affluent households. industry are contract furniture and this
The organized furniture market has been demand is majorly catered by
observed to grow from ~% in FY’2010 to unorganized sector while a minor share is
~% in FY’2015 also catered through customized
furniture from organized retailers.
Figure: India Furniture Market Size by Revenue in INR Million, FY’2010-FY’2015
1,200.0
1,000.0
800.0
INR Million
600.0
400.0
200.0
0.0
FY'2010 FY'2011 FY'2012 FY'2013 FY'2014 FY'2015
21
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HOW THE ORGANIZED HOME FURNITURE MARKET HAS PERFORMED?
The retail sales of home furniture products through organized retail outlets in India generated
revenues of INR ~ million in FY’2015 and represented a CAGR of ~% during the period, FY’2010-
FY’2015.
Companies such as Godrej Interio, Home Center, Nilkamal, Durian Furniture, and Style Spa
among others have grabbed significant positioning in the domestic organized home furniture
market. In spite of the fact that ~% of the furniture market belongs to the unorganized players,
the growing western culture in the country coupled with increasing consumers’ preference for
branded products have given a considerable surge to the branded furniture segment in the
recent years. In order to cater to the mounting demand of branded furniture in India, the
competition amongst the organized players has further intensified.
The arrival of international brands from Italy, Germany, Sri Lanka and other countries has
brought a change in consumer perception and has resulted in the purchase of more expensive
furniture products, which have in turn propelled the overall revenues of the market. However,
a large number of Indian citizens have still opted to purchase customized furniture from
carpenters at highly competitive prices. The employment of on-site carpenters has provided
Indian customers with the flexibility to customize design, wood material and make any
modifications to the product as necessary at their comfort.
The growth of the organized home furniture industry has played a key role in the development
of the overall furniture market in India. The future of this industry has been expected to witness
an increase in number of foreign brands in the country. Along with that, more number of
companies in the organized segment will look forward to provide additional services such as
customization, free home delivery and more. Moreover, with the substantial growth of the
Indian e-commerce industry, many players have entered the online market for the sale of
furniture products. Companies such as Pepperfry, Urban Ladder and Fabfurnish have
revolutionized the sale of home furniture products in India by not only providing significant
discounts but also through value added services such as free product demos, customizations,
complete home solutions and others.

Figure: India Organized Home Furniture Market Size by Revenue in INR Million, FY’2010-FY’2015

140,000.0
120,000.0
100,000.0
80,000.0
INR Million

60,000.0
40,000.0
20,000.0
0.0
FY'2010 FY'2011 FY'2012 FY'2013 FY'2014 FY'2015

22

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WHICH SEGMENTS HAVE DRIVEN CHANGES IN HOME FURNITURE MARKET?
Bedroom furniture held ~% of the total revenue
of home furniture market in India, as recorded in
FY’2015. Bedroom furniture has stood as the
highest revenue-generating segment as furniture
items placed in bedroom have been the utmost
priority for Indian customers.
Table: India Bedroom Furniture Segmentation
by Type of Products on the Basis of Revenues in
INR Million, FY’2015
Bedroom Furniture INR Million
Bed ~ market for home furniture products has observed
Wardrobe ~
Dressing Tables ~ considered cost as a secondary factor and has
Others ~
Total ~
The living room furniture was the second most
important choice as it garnered ~% share in
revenues for the year FY’2015. This segment
encompasses a wide range of coffee tables, sofas,
center tables, corner tables, chairs, bookshelves,
TV stands, ottomans, display cabinets, consoles
and upholstered furniture like sofas and
overstuffed chairs. Sofas have been the highest
selling product in the living room as they are the
primary items to be placed in the living room.
They accounted for ~% share of the living room
furniture market.
The dining room furniture also includes other
items such as bar stools, sideboard cabinets,
serving carts and wine storage units. This
segment accounted for a revenue share of ~% in
the home furniture market in FY’2015. The
average selling price of a dining set in a branded
showroom is usually in the range of INR 35,000 to
INR 70,000.
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The demand of modular kitchen has bolstered
the total sales in the market from INR ~ million in
the year FY’2010 to INR ~ million in the FY’2015.
In the year FY’2015, nearly 85% of this market
was governed by the unorganized Johnson
summarized ~% of the market in terms of
revenues sector, whereas big players such as
Sleek and H&R.
Sale of home furniture in the western region of
India was observed to be the highest at ~% due to
the high demand of solid wood. The Indian
a varied/mixed demand from different income
classes. The upper class of the Indian society has
laid emphasis on design and durability of the
product.
Table: India Home Furniture Segmentation on
the basis of rooms, in Percentage Contribution
in INR Million, FY’2015
Furniture of different rooms % Share
Bedroom Furniture ~
Living room Furniture ~
Dining room Furniture ~
Kitchen furniture ~
Kids room furniture ~
Others ~
The sale of home furniture products through
exclusive showrooms was observed to contribute
highest to the revenues of the market as
customers had more confidence in the quality of
products and trust on brands. Furniture dealers
stood as the second most preferred destination
for purchase of home furniture products.
23
WHAT ARE THE MAJOR BUSINESS MODEL PREVALANT IN FURNITURE
SECTOR
In House Manufacturing Model: The operations
in domestic manufacturing of furniture in India
can be divided into 2 basic forms, namely, ‘make
to order’ and ‘bulk manufacturing’. The raw
materials can be obtained either through the
local market or through imports from Malaysia,
Indonesia or China.
After procurement of raw materials from timber
suppliers, the furniture manufacturer develops
the designs and produces the product based on
the customer requirement. The manufacturer
though pays the cost of transportation of
furniture but transfers it to the customer by
including it in the final bill of purchase. The
requirement is routed to the manufacturer
through exclusive, franchise or dealer stores.
These stores retain a gross profit margin of ~%
and ~% respectively. The wholesalers keep a
gross profit margin of ~% to cover their costs and
sell furniture products to a wide range of dealers.
One of the major draw backs of selling through
an in-house manufacturing business model in the
home furniture market is the higher cost of
production in comparison to imports. Heightened
labor expenses, raw material costs and operating
costs in India have reflected ~% higher prices of
products in comparison to imports from
countries such as China and Indonesia.
Import Based Model: Import of furniture
products has been observed significantly in the
Indian market. The presence of large number of
dealers and traders has been largely due to the
higher fees obtained through trading of furniture
items in comparison to domestic manufacturing.
The payment can also be taken in installments;
importers generally pay ~% of the total cost at
the time of order placement and transfer the
remaining amount at the time of shipment.
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The importer charge a margin of ~%, who sips
the product to the retailer or the exclusive stores
which further charges a margin of ~% on the
furniture products. The major drawback of this
business model is the high turn-around time. In
case the required piece is not available with the
furniture dealer/ supplier, it can take significant
amount of time (several weeks) to import it from
the source country. This would lead to loss of
customer interest in the product and hence
create loss in sales.
Moreover, this model also possesses a higher risk
of furniture damage during transportation as
products have to be delivered through different
means (sea and land) and require multiple
loading and off-loading points.
Online Marketplace Model: Market place
business model enables the third party retailers
to sell and advertise their products on an online
platform. It has gained its prominence during the
last few years majorly since the refurbishment of
ecommerce sector in India. The online portal
further develops sync with the merchant by
means of an agreement on partnership,
assessment and operation model. The product is
then sent to the market place that acts as a
storage place/ inventory.
The B2B2C Model is useful in the case when
merchants are located in different regions and
come together to form an online virtual shopping
mall. The major profit sources include fixed fees
from merchants and price charged from
transaction and additional services.
24
HOW MUCH INVESTMENT IS REQUIRED TO SETUP FURNITURE PLANT?

In order to establish a furniture manufacturing Human resources have formed a critical aspect of
unit in Chakan, Pune, India, there are several every organization. In a furniture manufacturing
parameters that need to be considered. Pune has unit, carpenters, machine men, polish men, CAD
been selected as prime location due to its central operators and other skilled laborers form a vital
geographical presence and presence of a strong aspect to process wood either manually or
industrial base. The usage of both manual labor through machinery.
and automated machinery has been most widely
Table Annual Cost of Production for Furniture
used in the industry.
Manufacturing Unit
For the first year, the annual production capacity
will be near to 60%. The factory floor has been Particulars Amount (INR)
divided in a specific proportion in order to Expenses
facilitate easier flow of material and smooth
operation. The quality of wood used to produce Interest
furniture is considered of high grade. Depreciation of machinery at 15%
Table: Assumptions Considered in the
Depreciation of Equipment and
Investment Model
Furniture at 35%
Parameter Description
Total
Annual Land Rent of 10,000 Sq.
ft.
Location Table Financial Indicators for a Furniture
Manufacturing Plant in India
Capacity Utilization
Financial Indicator Particulars
Annual Production Capacity
Promoter Contribution Annual Sales Revenues (INR)

Loan Tenure Total Expense (INR)

Rate of Interest per Annum Annual profit (pre-tax) (INR)

Number of Operating Days Pre-tax Return on Sales
Manufacturing of both wooden and steel Total Investment (INR)
furniture products requires different sets of tools
such as saws for cutting of wooden logs, cutters Return on Investment
for designs and carving purposes, compressors to
increase material density and other finishing
tools such as hand saw and paint gun.

25

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WHAT ? FACTORS ARE LEADING TO
ENHANCEMENT OF CHILDREN’S
FURNITURE?
Children’s furniture has slowly gained its share in
the Indian furniture market. The younger
generation of parents has looked to provide the
best surroundings for their children at home and
have generated the demand of specialized
children’s furniture items. These target groups not
only have purchased individual furniture items, but
have also looked to remodel their child’s room to
provide a unique look to their room. With an
average budget of INR 0.2 to 0.25 million, these
buyers have showcased a mixed demand of theme
based and non-theme based furniture.
The overall children’s furniture market in India has
been observed to grow at a CAGR of ~% during
FY’2010-FY’2015 and reached INR ~ million in
FY’2015. This has represented ~% of the overall
furniture market. Beds and wardrobes have been
the major products sold in the India Children’s
furniture market. These two products were
observed as the most essential products
purchased by parents.
Table: India Children's Market Segmentation by
Unorganized and Organized Market on the Basis
of Revenue in INR Million, FY'2010-FY'2015
Particulars FY’2010 FY’2015
Unorganized Market
Organized Market
Total
The share of the children’s furniture market in the
overall furniture industry has been expected to
grow gradually in the coming five years despite the
rapid CAGR of ~%.
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HOW THE FURNITURE SALES HAS
COMPLEMENTED GROWTH IN SALES OF
MATTRESS?
The mattress market of India has been dominated
by small and unorganized players which cater to
nearly ~% of the overall requirement of mattresses
in the country. The major types of mattresses
observed in the Indian market include, spring, coir,
foam and hybrid mattresses. The market has been
dominated by domestic brands such as Kurlon,
Sleepwell, Springfit and Nilkamal. However, the
gradual influx of foreign mattress brands such as
Tempur and King Koil has heightened the
competition in the market. The revenues
generated by retail sales of mattress in India
amounted to INR ~ million in the year FY’2015.
The popularity of spring mattresses has increased
over the years as more companies have begun to
provide springs which cater to varied requirements
of customers. Coir mattresses were followed by
spring mattresses which held a share of ~%. South
India has been considered as a production hub of
coir mattresses, particularly rubberized coir
mattresses. The customers in this region have
been early adopters of good quality products and
have been shifting towards spring mattresses.
The growth of the Indian economy and the gradual
rise of disposable incomes have leveraged the
buying capacity of people.
The mattress industry in India has displayed stable
growth in the past and is expected to continue
with a much rapid pace in the future. There is a
gradual rise in awareness among the population of
India pertaining to the health benefits of a good
quality mattress. Hence, the aforementioned
factors will result in a steady growth of the
mattress industry in India.
26
WHAT HAVE BEEN THE TRENDS FOR ONLINE FURNITURE IN INDIA?

The sale of home furniture products online has Additionally, the purchase of furniture items through
been a relatively new concept in India. Since the desktops and mobile/tablets was segmented in the
inception of furniture e-tailing companies in the percentage share of ~% and ~% in terms of GMV
country since 2011 the market has observed a respectively.
slow yet steady paradigm shift in customer
Table: Snapshot of Major Players in India Online
behavior for the purchase of furniture products.
Furniture Market
A higher number of Indian customers have
utilized the convenient services of online portals Urban
Parameter Pepperfry Fab Furnish
to choose their desired furniture from a wide Ladder
variety of products. The average ticket size of
online purchase of furniture products was Establish
observed between INR 15,000 – INR 20,000 in Funding
FY’2015.
Model
The GMV of furniture products sold through e-
Average Ticket
commerce websites was registered at INR ~
Size
million in the year FY’2015. The online furniture
retail market has grown at a noteworthy growth Employees
rate of ~% from FY’2012 to FY’2015. Rapid Rank
urbanizations, rise in digital literacy and an
increase in the number of smartphone users have Daily Unique
Visitors
bolstered the growth of this market in the past 3
years. Tier 1 cities contributed to the largest Daily Unique
share of sales of furniture products with ~% Page Views
market share in terms of GMV in FY’2015. Number of
The experience of furniture shopping is changing SKUs
rapidly in India. The online furniture market is GMV of
ruled by the early adopters. And hence the Furniture in
product/material split of of the online and offline INR
market look very different. While hardwood Million(FY’15)
constitutes ~% of the overall offline market, in Market Share
online space this value is around ~%. As the in Terms of
adoption increases, the split of the online and GMV for
offline markets will begin to look similar. The Furniture
competition in online furniture market is (FY’2015)
concentrated among few major horizontal and
vertical e commerce giants in the market.

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HOW IS THE COMPETITION STRUCTURED
IN INDIA ORGANIZED HOME FURNITURE
The organized home furniture market
encompasses numerous numbers of players and
hence the market has been witnessed as highky
fragmented. The market is moving more
towards organised segment. This is marked by
increasing customer preference for readymade,
branded furniture. Therefore, the share of
organized players in the market has been
observed to grow but still major six players have
commanded 8% share in the organized home
furniture market.
Style Spa has commanded ~% share in the
organized home furniture market, with
revenues worth INR ~ million in FY’2015. The
company had 115 retail stores as on March 31st
2015.
Figure: Market Share of Major Players in India
Organized Home Furniture Market on the Basis
of Revenues in Percentage (%) and Revenues in
INR Million, FY’2015
Market Revenues in
Major Players Share INR Million,
(%) FY’2015
Style Spa
Godrej Interio
Damro
Home Town
Durian
Nilkamal
Others
Total
WHAT ARE THE FUTURE PROSPECTS OF
INDIA HOME FURNITURE MARKET?
In order to strengthen their position in the market,
offline retailers have begun to expand to tier-2 and
tier-3 stores and have continuously updated their
product catalogues with new designs at cost-
effective pricing. These retailers have also
provided customers free demonstrations of re-
modeling of their home space through
consultations with in-house furniture designers/
experts.
The residential real estate market has witnessed
balanced growth in the last couple of years owing
to the increasing population and growing demand
for affordable housing accommodation. Major
metropolitan cities such as Delhi, Mumbai, Kolkata
and others have also showcased growing demand
for luxury housing complex such as villas,
penthouses and apartments in the recent years.
Additionally, with the increase in global warming
and the initiative of India to improve
environmental parameters, the government might
look forward to increase protected forest area and
hence reduce the amount of lumbar available for
furniture. Increased protection of forests will act as
a deterrent to the growth of the furniture industry
in India.
Figure: India Home Furniture Market Future
Projections on the Basis of Revenue in INR
Million, FY’2016-FY’2020
350,000.0
300,000.0
250,000.0
200,000.0
INR Million
150,000.0
100,000.0
50,000.0
0.0
28
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COMPANIES CITED IN THE REPORT

Competitive Landscape

Particulars
Companies Godrej Interio
Mentioned Nilkamal
Durian
Damro
Home Town
Home Centre
Style Spa
Decathlon
Stitch Wood
Houzz
Timbor Wood

Leading Online Furniture Retailers

Pepper Fry
Fab Furnish
Snapdeal
Urban Ladder

KEY FACTORS CONSIDERED IN THE REPORT

• Comprehensive analysis of the India Furniture market and its segments

• Industry is presented by residential & non Residential Segment, by organized and unorganized
sector.
• Listed major players and their positioning in the market
• Identified major industry developments in last few years and assess the future growth of the
industry
• Regulatory framework help to understand investment opportunities and complexity involved

29

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