JSW Group has ventured into the fastest growing furniture market with the launch of its brand, Forma, as a brand of JSW Living.
The company will be present across the chain of furniture, furnishings and daily living objects that impact the Indian consumer’s life. There is a strong focus on sustainability and durability, to deliver good design to a larger number of users.
The furniture market in India is estimated to be INR 1,32,000 crore and is growing at a CAGR (Compounded Annual Growth Rate) of 11% over the last 5 years. The organised sector accounts for around 16% of the entire furniture market and is fragmented with over 50 key players.
With a launch portfolio of over 30 differentiated furniture SKUs, Forma plans to scale up its total portfolio 10 folds, said Bedraj Tripathy, Chief Executive Officer, JSW Living.
“Forma aims to be a significant disruptor in the Indian furniture market with a focus on sustainable material, unique product portfolio, user experience and market penetration”, said Tarini Jindal Handa, Managing Director (MD), JSW Living. She commented that they are working with their own team as well as designers to develop unique designs made with steel and said, “at Forma, we will take good designs to larger sections of our society in India.”
With the launch of JSW Living, Tarini Jindal Handa will join brother Parth Jindal who is revamping the company’s brand helping it to reach home consumers directly.
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