Online home decor market in India has a new member – The Home Elements. It is an Indian ‘design-exclusive’ online store, which aims to redefine the concept of ‘Home Fashion’ in India..
The Home Elements will offer factory fresh boutique designs in home furnishings from their in-house Design Art Studio. The portal’s product range consists of cushions, poufs, decorative stools, kid’s cushions, chic aprons, gift combos, laptop/tablet covers and more.
It has been launched by seasoned professionals Nilesh and Pavvy, who have an established manufacturing setup behind them. The company has plans to take these Indian designs to international markets as well.
The collection offered on the portal has derived its inspiration from craft and designs from various parts of India, and has handcrafted embroidered products as well. Indiacircus is another such player operating in this same space.
Besides its own portal, the company has listed its products on Jabong.com, Indianroots.in and Limeroad.com as well, and will soon launch an omni-channel presence too.
As per Technopak estimates, the Indian Home Décor market which stood at USD 13 billion in 2010 will touch USD 20 billion by 2015. The market is unorganized with only 4 or 5 big players in comparison to other categories, Apparel, electronics etc where more organized players are present. The entry barrier in this category still seems low and provide better scope for differentiation and even a private label for merchants.
Out of this USD 20 billion market 40 % – 50% is currently furniture and rest are pure home decor items such as cutlery, kitchen items, fancy lamps etc. Three of the known players in this segment, namely FabFurnish, Zansaar and Pepperfry, started early in 2012 itself. Other home furnishing companies include Urban Ladder, Room Story, The Home Label etc.