IFBrands is also looking for a tie-up with Armani Casa, another Italian brand, to open a mono store.
Samvit Tara, director, International Furniture Brands (IFBrands), told Financial Chronicle, “We are in talks with Fendi to open a mono store in India.”
IFBrands also plans to soon launch children’s furniture collections. Said Tara, “We have tied up with Young America, an American children’s furniture brand, to open concept stores here. The first store would be launched in Delhi in the next six months.”
Started in 1989, the brand represents 30 international designer furniture lines, furnishings, lighting and accessories from high-end brands including Fergson Copeland, Christopher Guy, Fendi Casa, Kenzo Maison, Donghia, Ipe Cavalli and many others. The company imports the furniture from Europe and the US.
Though it originally started with classical furniture, IFBrands now has a mix of traditional and contemporary furniture.
With a presence already in Mumbai, Delhi and Bangalore, IFBrands plans to open stores in Hyderabad and Kolkata this year and add two more stores in north Mumbai. “We want to be present in each and every major city in India. Later on we will go to Chandigarh, Ahmedabad and Ludhiana. We might also get into franchising after a year,” Tara informed. IFBrands claims it has no competitor in the market. “We represent all the top 30 global luxury brands for furniture, lighting and accessories,” said Tara.
With prices starting from Rs 50,000 and going up to Rs 25 lakh, IFBrands targets niche customers. “Our clients like to buy top-end stuff. May be we are serving only just one per cent of the market but still we count it as a big number. Our business has grown over the last four years and we hope to be doing a turnover of Rs 70-100 crore soon,” said Tara.
Feb 15 2010 , New Delhi
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