Click to play videoNew Delhi: India adds four and a half million new houses every year. The boom in the real estate market has had a multiplier effect on the home solutions market that has currently pegged at one lakh crore.
But the organised pie is just worth Rs 14,000 crore. No wonder then, big retail players like Reliance Retail are set to step in.
Though there is no official comment yet, CNBC TV-18 learns Reliance Retail is in talks with several international chains for sourcing a range of home furnishing products.
Apart from this, the company will also look at in the house brands to give customers better price.
Reliance Retail is likely to launch these stores in a month's time. It is looking at Kolkata, Hyderabad, Chennai and Bangalore for its first set of stores.
The design and layout of these stores will be done by a panel of international and Indian designers.
Future Group's Home Town, started operations in April last year and has already crossed the Rs 1,000 crore revenue mark. In fact it has another home solution format in the pipeline.
“We are doing a new concept called Home Bazaar that is coming up in Aurangabad. Being a part of Big Bazaar It will be very similar to Home Town, not 100, 0000 square feet but 40 to 50 square feet. If that rolls out then there is a big plan on hometown for us,” says CEO, Future Group, Kishore Biyani.
Apart from Future group, The Landmark Group is already in this segment with Home Centre.
Also Shoppers Stop, which currently sells its home furnishings range under the home stop brand may look at stand alone home stop stores.
With a growth rate of 30 per cent, the organised home solutions market may become the next battlefield for retailers.
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