Indian Furniture Industry
India, as a country in whole, is recognized and appreciated worldwide for its rich culture and traditional handcrafted products. Well-designed, well-crafted with superior quality furniture, Indian furniture is in demand everywhere. However, Indian furniture industry is highly unorganized. Most of the artistic addition to furniture is performed traditionally by individuals dispersed across the country. As per the report of Indian Mirror titled INDIAN FURNITURE INDUSTRY, Indian Furniture Industry is regarded as a “non- organized” sector of Indian Economy. The report suggests that handicraft production alone accounts for about 85% of the furniture production in India. Also, the furniture segment only makes a marginal percentage contribution to the formation of GDP.
Moreover, ‘Indian furniture Industry is valued at being the 14th largest furniture market in the world driven largely by the substantial middle-class population’. Valued at around INR 887.50 million in 2014, the industry accounted for just 0.5% to India’s GDP. However, the industry is predicted to witness a huge growth in future with trends to make the segment more organized. According to the Cushman and Wakefield report- it is expected to reach INR 2,708 billion by 2019 at CAGR of 25 percent [2015-2019]. Read the full report here.
WoodenStreet.com enters Indian online furniture market
There are many established players and start-ups which are putting efforts to make industry more organized and provide a one-stop platform for end consumers. WoodenStreet.com has joined the race after its launch in May 2015.
WoodenStreet is an E-commerce store offering ready to order as well as exclusive custom-made furniture to the customers . The aim is to provide affordable furniture in a variety of styles with a focus on innovation and better utility product.
With a perfect blend of vision and artistry, WoodenStreet is competing in the market to become a one stop shop rendering quality furniture to end consumers.
The Founders of WoodenStreet.com
Wooden Street was co-founded by Lokendra Ranawat, Dinesh Pratap, Virendra Ranawat and Vikas Baheti. The team of four decided to collaborate to bring an enhanced experience to buyers by introducing an online platform.
Lokendra, founder of Cognus- a digital marketing company, is an engineering graduate with 10+ years of experience in sales and marketing and has worked with Birlasoft, IT&T, Keane in India and London.
Dinesh is an alumnus of NIT- Jaipur and holds an MBA from IIM-Kozhikode. An expert of procurement and general management, he has worked with P&G and CSC.
Virendra is an engineer with MBA from IIMM-Pune, and has eight years of experience with TATA and Energo.
Vikas is a finance graduate. He has worked with firms like DELL and Vertex and brings an experience of 12 years of furniture sourcing and manufacturing to the team.
Currently, operating from multiple offices, located in Udaipur, Jaipur and Jodhpur; WoodenStreet has a team of 50+ to look after activities such as designing, prototyping, sourcing, order management, sales etc.
The Way it Functions
“Our firm belief that great furniture doesn’t have to cost a fortune, we bypass middlemen to connect you with the makers”.
WoodenStreet is unique in the way it operates. It allows you to choose from extensive range of furniture available at store that combines appealing designs and the finest quality to suit your style quotient. And in case where you do not find the right piece to fit your space- it gives you flexibility to choose from the woods till the finishes, describe your imagination that exactly fits your specifications clicks after clicks and WoodenStreet will have it delivered to you. The ultimate goal is to craft a piece of furniture that is a perfect fit to your taste, specifications and style.
Since start of operations, WoodenStreet has fulfilled more than 100+ orders across Delhi, Mumbai and Bangalore. It will continue to grow its business with an intense marketing campaign to make a pan-India presence.
WoodenStreet has products in categories including Bookshelves, TV Units, Shoe Racks, Bar Cabinets, and Balcony Seating. Going forward, they will continue to work towards creating a wider range of products at much affordable prices!