FabFurnish is among the few Indian e-commerce companies which are exclusively into the game of selling furniture online. Launched in March 2012 by Vaibhav Aggarwal, Vikram Chopra and Mehul Agrawal, the company has expanded its presence to the Indian consumers with offline stores as well. iamWire got in touch with Vikram Chopra, the CEO & Co-Founder, to get his insights into where the company and the market are headed.
How is 2015 Treating FabFurnish Till Now?
2015 has been an exciting year for FabFurnish. This year, we introduced two new catalogues, namely: Modular Kitchen and Modular Wardrobe. These sections are doing very good, thereby adding conspicuously to the growth of the company. We get around 2500 orders on an average everyday, with average ticket size ranging from Rs. 10,000 to Rs. 15000 overall for furniture and for Rs 2,500 – 3000 for other products.
From which city do you get the maximum number of orders? What are the most popular items?
Bengaluru leads in demand, followed by Delhi and then Mumbai. In fact, as we are observing, Delhi is very close to surpassing Bengaluru. We usually get the highest number of orders for items like Sofas, Beds and Dining Sets. We are an affordable brand when it comes to buying furniture.
What is the market size?
The average market size of India is over $15 billion (estimated by industry experts). Nevertheless, the furniture market is largely unorganized.
How is the traction coming from offline stores?
We are doing pretty good at our offline market. It is basically an extension of the online store. We are essentially all private labels, meaning, along with our products, we control their supply chain across different sectors. We have stores in Bengaluru, Gurgaon and Faridabad; all located at areas which are known for being the furniture hubs of the respective cities. Considering this fact, we may say that capturing such markets clearly reflects our strong hold on the business. In fact, our offline stores have helped us grow thrice the size.
We are looking forward to open more showrooms across the country, soon.
Are their any incoming investments in the pipeline?
We have been attracting a lot of inbound investments. Although, we can’t disclose any names now, we shall let you know in the future.
With competitors like Pepperfry, Urban Ladder along with marketplaces like Snapdeal and Flipkart which have also launched their home decor and furniture catalogues, where do you see yourself in the market?
We are distinguishedly positioned in the market owing to the fact that we focus on the masses. Our products are essentially reasonable so that customers from the middle class could easily afford them. Also, the materials we use, like wood, are engineered to enhance design specifications and maintain high quality.
We have kept Ikea Furniture as our benchmark, and want to become one of the largest furniture catalogues in the coming ten years. We see immense scope for us in the future and definitely look forward to growing bigger.