Mumbai: Sajjan Jindal-led JSW group wants to project the leadership of Godrej in the steel fixtures marketplace with its new project JSW Living which launched its emblem Forma on Thursday.
Launched with an preliminary seed investment , the “asset mild” commercial enterprise is looking at earning a revenue of about Rs 250 crore over the next years and chart its boom along with the boom of the presently undeveloped organised section of the furniture market.
“We have our eyes set on who’s the number one player within the organised phase in steel (fixtures) which is Godrej…” Parth Jindal, director at JSW Living stated on the launch.
“We need to task the popularity quo and challenge Godrej inside the steel furnishings phase,” he said.
Godrej earns near Rs 900 crore in its metal furnishings enterprise. However, Jindal stated JSW’s metal fixtures merchandise will differentiate themselves from the eighty-12 months antique furniture massive’s on the basis of layout and integration of era in layout. The fee though could be at par with the market chief.
JSW Living will presently function via distributors and its on-line channel, but expects to open retail outlets by 2023, said Tarini Jindal, MD of JSW Living. Jindal additionally remained unfazed with the competition inside the residential furniture segment that is essentially dominated by means of wooden fixtures stated.
“The market is actually large and we invite competition… We are honestly satisfied that Ikea has been opened in India and that Godrej has led the way for us,” she stated.
The Indian furniture marketplace currently is worth Rs 1.Three lakh crore out of which the organised segment makes for a meagre 15%, consisting of 50 -abnormal gamers. Metal furnishings makes for Rs 34,585 crore of the whole furniture market.