Creative Portico aims to add 200 outlets in 3 yrs
Banking high on about 10 per cent growth happening in the furnishing segment, Creative Portico India, a premium bed and bath soft furnishing player in India, is planning to add about 200 outlets through the franchise route in three years.
In addition to the retail, it is also looking to tap bulk business opportunities from hotels and institutional sales. Currently, it operates 16 outlets.
The bed and bath textile segment is estimated around Rs 12,000 crore with just 10 per cent in the organised segment. According to the company’s chief executive officer, Arun Bhawsingka, “The industry has been growing around 12 per cent but we have managed to grow more than 25 per cent,” he said, adding that the group revenues were about Rs 1,000 crore.
Talking on the consumer purchase patterns, he said, typically, customers purchased about three times a year and the ticket size ranged from Rs 1,500 to Rs 3,000. Its online sales channel accounted for about five per cent of the sales. He also said that with more youth coming into the shopping fold, the online percentage was expected to increase,
The company had also tied up with designer Neeta Lulla for its wedding collection — ‘Saath Phere’. It also has ‘Shubh Mangalam’, also a wedding collection.
It operates with three brands — Portico New York in the premium segment and Stellar Home USA and Westa Home in the value segment. The products are priced about Rs 6,000 to Rs 10,000 in the premium segment and this category was seeing a good growth, he said.
Source: mydigitalfc.com
Arun Bhawsingka, bed and bath, chief executive officer, Creative Portico, franchise, Hotels, institutional sales, outlets, Portico New York, Retail, Saath Phere, Shubh Mangalam, soft furnishing, Stellar Home USA, Westa Home
