Pegged at $20 billion, India’s online home and furnishing market is growing at the rate of around 15% yoy.
Fashionara, the leading e-fashion mall, has announced its entry into India’s burgeoning home-furnishing market with the launch of 36 brands across 7 new categories. The company has added close to 7500 new products to its Home Fashion catalogue and plans to increase this number to 20000 in the next 3 to 4 months.
Some of the brands that Fashionara has on board include Mesleep, Swayam, Portico New York, Bombay Dyeing, Tangerine, Stellar Home USA, Corelle, Skipper furnishings and House this. Fashionara’s current offerings include a wide range of products across categories like apparel, accessories, innerwear and cosmetics.
India’s online home and furnishing market is booming with more and more people shifting their purchases online owing to access to a large variety, latest designs and convenient door-to-door delivery and hassle free installation. Pegged at $20 billion, the market is growing at the rate of around 15 percent year on year, with online players in this space growing by 3 to 5 times every year.
With over 90 per cent of this market still being unorganized, there is a huge opportunity for e-commerce companies to own a large market share in this space. Some of the most searched products in this category on Google are bed linen, kitchenware, clocks and home decorative. Fashionara aims to offer these and a lot more on its platform.
Arun Sirdeshmukh, Co-founder and CEO, Fashionara, said, “We are very excited to enter the Home Fashion category. Home Fashion is a segment that is growing extremely fast. It is a perfect fit for us as most of our customers are between 25 and 35 years of age, with many in the process of setting up their first independent homes. We expect to continue to double our business every second quarter on the back of this new category.”
“Our homes are extension of our personalities and we at Fashionara aim to offer a curated and really stylish collection of home fashion that goes with the eclectic taste of our customers. By putting our F.Lea Market products side by side with the top brands, we are merging contemporary with chic here. We are confident our customers will love the collection!” added Sirdeshmukh.
In the second half of 2014, Fashionara had introduced F.Lea Bazaar, where it enabled selected sellers from flea markets across the country, to retail their products on its portal. In the recent past, Fashionara has debuted a slew of niche international design labels, offering a range of apparel and accessories never before seen in India.
With over 8000 dresses, Fashionara also offers the largest collection of formal and party wear ‘dresses’ across all e-tailers in India. The leading categories retailed on the portal include apparel, footwear, accessories, cosmetics, watches, kids wear and lingerie. In addition, Fashionara offers detailed lookbooks and services like on-demand style advisor that its customers can consult to get that perfect look.