Furniture manufacturer and retailer Timbor Home has received a funding of Rs 6 crore from the Small Industries Development Bank of India (SIDBI) to set up high-end “IKI” kitchen stores nationally in the current financial year. While the company’s existing 100-plus “Timbor Cucine” modular kitchen stores are targeted at the price-conscious spending class, the IKI kitchen stores are positioned to attract the premium upper-end of the young Indian consumers.
Commenting on the new focus area of the company, Anant Maloo, Chairman and MD, Timbor Home, said: “Through IKI kitchens we are bringing to India the newest concept of ‘Intelligent Kitchen’ by offering customised high-end kitchen solutions through a world class range of cabinetry, shutters, storage, and hardware, including exclusive handles and special kitchen light fittings. IKI kitchens will be showcasing Hettich’s award winning Red Dot design and many similar state-of-the-art products. With Rs 6 crore funding from SIDBI, we will be able to put in place 30 such high-end kitchen stores across all major cities in India during this financial year.”
The modular kitchen market in India is still at a nascent stage but has tremendous growth potential. It has been growing at 50 percent per annum and is expected to maintain this growth rate for some more years. Modular kitchens are customised according to consumer requirements, and can be set up with various accessories and appliances such as chimney and burner based on consumer needs. They can also be expanded or reduced in size at later stages, and can be fully relocated too.
According to the company officials, Timbor Home is a manufacturer and retailer of solid wood furniture, modular kitchens, and doors. The company has a pan-India distribution network of over 130 showrooms, which include 9 large format company-owned stores. These stores are spread across 20 states and 80 cities, and cover a total retail space in excess of 150,000 sq.ft. Products of the company are marketed under the brand names “Timbor Cucine” for modular kitchens, “Timbor Doors” for doors and door frames, “Timbor Home” for home furniture, “Timbor Cook Care” for cookware, and “IKI Kitchens” for high-end kitchen solutions. Its manufacturing units at Changodar and Vatva GIDC (Ahmedabad) and at Umreth (Anand) use Italian technology.
