Roche Bobois sees India among top 5 markets by 2021
New Delhi: French luxury furniture brand Roche Bobois sees India as one of its top five markets in five years from now. In a bid to tap the potential, the brand has firmed up plans to open stores in cities like Hyderabad, Chennai, Pune, Kolkata and Ahmedabad over the next three to five years, Martin Gleize, international director, Roche Bobois Group, said.
Roche Bobois, which entered India in 2014 with one store in Mumbai and followed by one in Bangalore the next year, opened its third store New Delhi on Thursday spread across 8,000 square feet.
“India is quite a small market at present. But it is developing fast. China made to the top five for us in about 10 years. We see India developing faster,” said Gleize. France is the top revenue market for Roche Bobois, followed by the US, the UK, the Middle East and China. Roche Bobois revenue stood at €420 million in 2015, and the company expects 5-6% growth this year.
The brand’s flagship store in New Delhi showcases its two collections Contemporary and Classic, respectively called Les Contemporains and Nouveaux Classiques. Roche Bobois releases two new collections every season.
Present across 50 countries with more than 250 exclusive stores, Roche Bobois engages internationally acclaimed designers such as Sacha Lakic, Stephen Burks, Christophe Delcourt, Ora-Ito and Cédric Ragot. The brand has worked with some of the world’s finest high-fashion houses, such as Missoni, Sonia Rykiel, Jean Paul Gaultier and Maison Christian Lacroix.
Roche Bobois imports everything from Europe and does not have any plan to manufacture its products either in India or China. In India, Roche Bobois competes with Italian brands Scavolini and Natuzzi.
As majority of Indian buyers import luxury furniture, the size of the market is not defined. Globally, luxury furniture market is projected to reach €27.01 billion by 2020, growing at 4.1% every year since 2015, according to a report by market research firm Allied Market Research.
Globally, key players in the luxury furniture segment include UK-based Duresta Upholstery Ltd, Spain’s Muebles Pico, Italian brand Valderamobili, Giovanni Visentin, Scavolini, UK-based Laura Ashley Plc, UK-based Iola Furniture Ltd and US-based Nella Vetrina, among others.