Indian industry
India is a land of wonderful and marvelous artistic work of wood which is being appreciated world wide. The rich Indian handicraft and beautiful traditional attributes of art and design have established a reputation of Indian Furniture Industry in the nation and worldwide to be appreciated by people. There are exceptional designs, rich, compact, and luxurious trends and, not the least, the supreme quality have given elegance to the furniture segment in the traditional as well as modern aspect.
Tradition in making lots of developments in the Indian furniture market is to make a luxury lifestyle statement. The old 'charpais' (string beds), inlaid 'door jambs', handcrafted 'almaris' (cupboards), ornate 'jhulas' (swings) and grandfather's
…show more content…
This also covered living room furniture. The Indian demand for living room furniture has enjoyed steady growth over the years. In the year 2006, the Indian furniture industry was estimated at around Rs 35,000 crores. Indian Furniture Industry is a highly unorganized sector. The furniture industry in India employs a total of around 300,000 workers and the total production of furniture in 2001-02 was USD 3580 million.
Size of the industry
Among all the types of furniture, the office furniture segment is the one that boasts the most important, both from the point of view of size and of the technological innovation of the production. The furniture industry employs a total of around 300,000 workers. The total production of furniture in 2001-02 according to Annual survey of Industry was USD 3580 million.
Total contribution to the economy/
…show more content…
60,000 cr. The industry is dominated by unorganized sector, which constitutes 90% of the total Indian market. The organized furniture market is at 10% and growing at about 35% CAGR. Furniture segment comprises 65% of the home market & 35% of Institutions. The entire Home decor category spends, furniture accounts about 68% of the share while remaining 32% comprises of furnishings and home improvement. Imported furniture constitutes to 85% of the total organized furniture industry in the country. India imports furniture from Italy, Germany, Spain, China, Korea, Malaysia, Indonesia and
And with good reason! The sheer luxury of the property is overwhelming. The mansion has 34 beautifully decorated rooms that boast 15th through 19th century art and furnishings. While blending together harmoniously, there is nothing subtle about the elaborately carved furniture, voluminous drapes, ornate carvings, and the richly colored tiles. The intent is to convey the excesses of wealth, which it does, albeit with grace and elegance.
Known as one the largest global home-furnishing retailers, IKEA currently has over 139,000 employees located in 53 countries and generates roughly 39.3 billion US dollars in annual sales (IKEA, 2014). Ingvar Kamprad began selling different types of items and founded the company in Agunnaryd, Sweden in 1943. Kamprad found that his greatest entrepreneurial opportunity was in furniture. Many households at that time were changing from receiving furniture that was handed down to desiring new, inexpensive, and stylish furniture. Kamprad was able to find a business opportunity to change the current social situation since a lot of the furniture was priced high at the time. He wanted to be able to offer his customers a wide selection of functional and well-designed furniture at a price many could afford (Bartlet & Nanda, 1996). Kamprad had a better understanding of what the customer desired and how to go about meeting those desires at prices that were lower than other furniture companies, in turn creating a competitive environment (De Kluyver & Pearce, 2011).
The range of products should cover the total home area, indoors as well as outdoors, with fixed furniture or loose furniture. The profile a company will want to bring to the table will give competitors and buyers a direct image of the company. There should be a wide selection of products along with the quantity of stock to sell to all customers. Quality and price are also an important factor but should be left up to the consumer to decide what they are looking to do in the long run.
“The earliest sofas apparently were made in Philadelphia, which fifty years before the Declaration of Independence.” However, our first look at sofa design that really represents American as a new nation beings with the American Federal style. Now that the country was no longer under the rule of England, the style was make better of the “luxurious and pompous scale of living that mirrored London.” With this in mind certain features were taken and replicated such as rich wood colors like mahogany. According to The Story of American Furniture, sofas were made with walnut cabriole feet and legs with a back that was a “cyma curve higher at the center than at the ends, and the arms flared outward like those of a wing chair.”
IKEA is a company which takes pride in being a “high quality, low cost” provider. For a company which has this image, needs to understand that there are problems associated with the title. Not all individuals will perceive their products as being high quality, if they are also DIY products. In order for IKEA to combat this, the company needs to restructure its products to fit the consumer’s wants and needs. IKEA also needs to have an understanding that when expanding in the U.S. market they need to have a different approach than in European countries. If IKEA can improve their internet presence, open more brick and mortar stores, and differ its product offerings, then the company will have the chance to be one of the most successful furniture retail outlets in the U.S.
The U.S. furniture and bedding industry totaled revenues of $75 billion comprising some 82,567 businesses in 2013. Revenue from wholesale business operations totaled $33 billion during the same year, shared between 4,021 businesses. Manufacturing in the U.S., numbering 4,906 businesses, accounted for $25 billion of revenue in 2013. With the exception of furniture manufacturing in the U.S. which shows an annual revenue growth rate of 2.4% from 2009-2014, furniture wholesale and retail have seen an overall decline in revenue of -3.2% and -1.5%, respectively (IBISWorld, 2014). Over the next three years, as the housing market and general economy continue to stabilize after the 2008 recession, retail sales of furniture and home items are expected to grow by 1%, reaching a total $90 billion by 2017 (Euromonitor, 2013).
The world is developing every day and we continue to discover new and innovative ways to better our quality of life. A trend that everyone seems to be focused on is saving the environment, which is also known as sustainable living. Not only does this apply to our lifestyle and environment, but it also translates into design. Sustainable living is becoming more popular around the world and is a lifestyle using skillful and sensitive design. It eliminates negative environmental impact and requires renewable resources. We each have decided to research different furniture companies to broaden our knowledge of the innovative practices used in each company. Throughout our paper we will introduce each of our companies and the products and practices they use to produce sustainable furniture. Our research will show that sustainable furniture design is beneficial to consumers by allowing them to live a more environmentally friendly lifestyle as their manufacturers develop innovative ways to make renewable furniture.
By analyzing the market one can adopt the strategy according to different global opportunities. According to E. Kasper ’’The high-end furniture industry recorded increasing growth due to the growing number of high net worth individuals, internationalization of consumer behavior and the growing influence of emerging markets.” (Kasper, 2006)
IKEA know as a unique furniture business that involved the customer’s needs with the potential on the factory floor. IKEA have owns abilities to develops its products directly based on the understanding and knowledge about the life and home challenges among the customer’s needs with low cost and high quality product. The skilled suppliers create the furniture that can adapt with the product size and constructions that enable them to produce, package and provided delivered stock in proficient way to all customers. It also put effort in developing, improvement and save resources. Apart f...
In advertising its products, the IKEA catalogs played a primary role as they were attractive and easy to use. The efficiency of IKEA products and quality of design were emphasized in the catalogs. Every household in the area surrounding a new store received a copy of the catalog during the busy years of expansion. Although direct mail-order sales usually represented a very small portion of the total sales. The whole IKEA range was not offered by the catalogs. To attract new customers to the stores, they were always a key factor. Throughout the world, IKEA continued to open stores in different locations and attracted various customers. It was interesting to look at a company offering the same basic products at all stores and do well in many different cultures with different tastes. Lastly, the IKEA’s current number of employees in retail and expansion functions is 116,500 as of 2015. Thus, the total sum of employee worldwide in 2015 was 155, 000. Literally, the rate of employee would be increased in terms of business development in the future. (Brammer, Jackson, and Matten,
Moreover, when he was faced with social problem he turned it into a business opportunity which gives IKEA global recognition for its low prices and innovative designed furniture. In China, it faced peculiar problems; for instance, its low-price strategy created confusion among aspirational Chinese consumers while local competitors copied its designs. Nevertheless, learning from these setbacks IKEA adapted strategies to expand and become profitable in the global market; such as India, where it open its first store in 2014 and plans to add 25 others stores in 10 to 15 years (Frynas & Mellahi,
Throughout the world, there are an abundance of diverse cultures, each truly unique in comparison to another. Culture is described as the “characteristics of a particular group of people, defined by everything from language, religion, cuisine, social habits, music and arts” (Zimmermann). Each of these traits is what sets each society apart, and is what influences their expression of design. Throughout this course, we’ve learned how planning and design have varied all through history, however we decided to take it a step further and focus on how different regions throughout the world create spaces that reflect their own cultures’ particular interests. Being a group composed entirely of Interior Design majors, our emphasis is investigating the use of material, color, motifs and layouts of their interior spaces, and how they reflect their societies. Not only do we explore a culture’s influence on design, but we briefly touch on environmental factors as well. Of all of the regions throughout the world, we decided to focus our research on the cultural practices and designs of Mexico, India, and Japan. Our reasoning behind centering on these three cultures is that these cultures are some of the most well-known, yet each entirely distinct within their own way, thus providing a greater understanding of design styles around the world.
Our perspective on the beauty and luxury of course needs to be expanded, because the design of an innovative low-cost housing we will see many designs that are not standard. Although the actual meaning of beauty and luxury, with a detailed execution and materials used, also applies in architecture in general, not just for low-cost housing. The beauty of a substance should be fundamental to the realization of the house.
According to this situation, we found out the various essential elements of “Your Choice Furniture”.
IKEA is more than a furniture store they are a company driven by values (IKEA, 2014). The company seeks to make their consumers lives easier by providing them with modern, innovative, inexpensive products which they use to tackle daily home activities. IKEA Group has 298 stores in 26 different countries (IKEA, 2014). The company’s vision is “to create a better everyday life for the many people” (IKEA, 2014, para 1). Using innovative techniques for creating, producing, and marketing their products IKEA can provide consumers with durable products for reason...