Creaticity will bring home furniture and decor brands from across the world to India, with 10 such brands in its portfolio by January 2025
Mumbai: Pune-based Creaticity, which operates a leading destination for interior design solutions, is adopting a house of brands approach, according to the company’s senior official.
Through this approach, Creaticity will bring various reputed and top-draw home furniture and décor brands under one roof and provide holistic product solutions to their customers.
“Indian customers are progressive, aspirational, premium-seeking and balance-conscious, (simply put PAPB) and our thought process is that we should offer a curated bouquet of brands, who are a combination of manufacturers plus brands, especially to the Indian consumers across the prestige-premium segments,” Mahesh M, CEO of Creaticity told IndiaRetailing.
Creaticity is a division of Deepak Fertilisers and Petrochemicals Corporation Ltd. Its 3.5 lakh sq. ft. mall in Pune dedicates 2 lakh sq. ft. to showcasing over 10,000 products from an array of leading Indian and international brands, all in one location.
While the company’s journey as a house of brands began seven years ago when Creaticity brought the North American brand Ashley Furniture Homestore to India, it is over the last couple of years that the company has adopted it as a transformative strategy, which it intends to grow consciously and cautiously.
“We have registered one of our trademarks with that in mind, called Creaticity Branded Interiors, which will house fine brands like Konfor, Turkey, which we recently introduced to India along with some more in the pipeline,” the CEO said.
Creaticity already houses three other international brands—Natuzzi Editions, Febal Casa and ALf Italia from Italy.
“Within the next four to five months we will present the bouquet of around 10 such brands, from Europe, Asia, America and our own India. And as we speak, work is going on to open many first and exclusive stores by January 2025 here at Creaticity, Pune,” he added.
India’s burgeoning home market is pegged at $22.92 billion in 2024, and expected to reach $38.38 billion by 2029, growing at a CAGR of 10.64% as per Mordor Intelligence.
However, it is still largely an unorganised market with the share of organised furniture being in the early double digits.
“Organised furniture market is estimated to be 10%-12%, and each 1% growth can translate into a thousand crores. For it to reach around 15%-20%, many more such organised companies from all over the world have to come to India, so the organised market can truly grow,” said the Creaticity CEO, adding that along with this, if Indian companies can build brands under the ‘Make in India’ drive, the sector could become a major growth industry in a decade or so and contribute to the Indian economy.
According to Ankur Bisen, Senior Partner & Head, Retail, Consumer Products and Food, Technopak Advisors Pvt. Ltd., the entry of more players will only help increase the penetration of organized retail and build an appetite for branded goods across the country.
