Thursday, Feb 27 2020 | Time 04:48 Hrs(IST)
image
  • Seven people dead in shooting in US state of Wisconsin - reports
  • Tunisian security forces kill 2 terrorists in preventive operation
  • Pakistan confirms first two coronavirus cases:Health Minister
  • MP Govt inks health deal with Tata
  • ‪Delhi violence : US, Russia issue security alert for their nationals
  • VP to inaugurate 'Thakurbari' on Mar 14 in Sikkim
Business Economy


No impact of slowdown on home furnishing segment: Guj entrepreneur

Ahmedabad, Jan 25 (UNI) The economic slowdown, affecting major sectors like automobile, manufacturing and real estate in the country, has failed to dent the home furnishing segment, which continued an upward trend, registering bumper sales of bed-sheets, towels and similar products, a renowned Gujarat-based businessman, said on Saturday.
According to Sudarshan Golecha, founder of Trecento Store Pvt Ltd, that owns the leading Vintana brand for bed, bath and decor segments, more than 23 crore branded bed-sheets were being sold each year across the country and if the non-branded items are also included the number would be manifold higher.
The branded bed-sheet business alone was of over Rs 10000 crore and it has not seen any decline due to the so-called economic slowdown, he added.
Talking to newspersons here, Mr Golecha said that only eight per cent of it's market across the country was branded or organised and the rest 92 per cent was unorganised, due to which there was also a vast scope or expansion for the branded players.

''People continue to buy these items. Some of the retail points, which reported a decrease in sales figures, faced it due to the fact that now buyers have more options, including online purchases,'' said Mr Golecha, whose brand was also sold on prominent e-commerce platform Amazon.

''The overall sales was steady, but due to availability of more stores and online things, some of them might see a decline in sales. However, it is not due to any slowdown,'' he said.

Mr Golecha said that such items were sold through mainly three types of retail points in urban areas- Large Format Stores (LFS) like Star Bazar and Multi-Brand Outlets (MBO); mid-sized stores that sell various brands under one roof and Exclusive Brand Outlets (EBO), owned by big brands.
''In the coming five years or so, the MBO's would be virtually wiped out as they won't be able to face the stiff competition on price front from the LFS and EBO, the former of which could lower the prices due to the sheer large volume of sales and the latter, due to selling it's own brand.
''In the coming years, only LFS and EBO would rule the market,'' he added.

Mr Golecha said that his company would also open at least 10 EBO's across the country in the coming times.
''We have recently opened one such store in Ahmedabad, the headquarters of our company. In the near future, it would be opened at Bangaluru and Pune and later, in other parts of the country.
''Our EBO is the only one across the country with 'made-to-measure' feature, which means that any customer can select the fabric, colour and size of his bed-sheet and other such items for a customised order of the same,'' he added.

According to Mr Golecha, his company has also made a unique strategy to further increase it's sales through online platforms. It has designed the strategy in such a way that it would be able to retain it's customers through it.

To a query, he said that his company mainly targeted the middle and upper middle class customers through premium quality sector (bed, bath and decor) at affordable prices.
UNI RAJ RJ 1800
More News

Global Digital Specialist Microland Creates European Headquarters in the West Midlands

26 Feb 2020 | 9:31 PM

BIRMINGHAM, England, Feb. 26, 2020 /PRNewswire/ -- Microland, India's leading digital IT transformation company, today inaugurated its state-of-the-art Digital Hub in Birmingham, UK to serve its European customers.

see more..

Eatons Customer-focused Product Development in the UPS Market Commended by Frost & Sullivan

26 Feb 2020 | 9:29 PM

LONDON, Feb. 26, 2020 /PRNewswire/ -- Based on its recent analysis of the APAC UPS market, Frost & Sullivan recognizes Eaton with the 2020 APAC Customer Value Leadership Award for developing products that align not only with customers' current expectations, but also likely future requirements. Its Predict Pulse cloud-based analytics service for data center infrastructure enables users to predict the failure of power components and perfectly complements its next-generation remote monitoring service.

see more..

Genesys Applauded by Frost & Sullivan for its Commitment to Helping Clients Deliver Personalized Customer Experiences and Improve Productivity

26 Feb 2020 | 9:27 PM

SÃO PAULO, Feb. 26, 2020 /PRNewswire/ -- Based on its recent analysis of the Latin American & Caribbean contact center solutions market, Frost & Sullivan recognizes Genesys with the 2019 Latin American & Caribbean Company of the Year Award. It employs artificial intelligence (AI) and machine learning engines to optimize operations for agents. With a portfolio of products adapted for local markets, Genesys guides contact centers through digital transformation and cloud migration. In addition to cutting-edge technology, it provides management and customer support that helps contact centers achieve their goals and boost performance.

see more..

PayU India Appoints Country Head for Enterprise Business and Chief Product Officer to its Executive Team

26 Feb 2020 | 9:26 PM

NEW DELHI, Feb. 26, 2020 /PRNewswire/ -- PayU, India's leading online payment solutions provider, today announced two key appointments to further fortify its Indian leadership team to scale-up the business and pave the way for its next phase of growth of developing a fintech ecosystem in the region through innovations focussed on payments, credit, and fintech investments.

see more..

Frost & Sullivan Awards Carbon Lighthouse for its Data-driven Building Energy Efficiency Solution, CLUES®

26 Feb 2020 | 9:24 PM

SANTA CLARA, California, Feb. 26, 2020 /PRNewswire/ -- Based on its recent analysis of the global building energy optimization market, Frost & Sullivan recognizes Carbon Lighthouse with the 2019 North American Technology Innovation Award. Its patented, cloud-based building energy analytics engine, Carbon Lighthouse Unified Engineering System (CLUES®), gathers large amounts of building data to deliver deep insights to help reduce a building's energy consumption. The company uniquely adopts a turnkey approach that includes data collection, implementation, and performance management, while its Efficiency-as-a-Service model guarantees energy savings to offer financial, operational and environmental value to building owners and investors. The full report is available for download here.

see more..
image