Furniture giant Natuzzi to consolidate its India presence
November 4th, 2011 - 6:07 pm ICT by IANSKolkata, Nov 4 (IANS) The $1 billion Italian furniture giant Natuzzi will open 11 stores across India by the year end to consolidate its presence in the country, a company official said Friday.
“The premium segment of the furniture market in India is growing by 25 percent to 30 percent annually. In view of the growth rate the company will be opening 11 stores by the year end to consolidate our presence here,” Nitin Bahl, country manager of Natuzzi, said at the launch of its store in the city.
The company, which deals in leather upholstery and living room accessories, caters to premium level and midlevel costumers has its products ranged between Rs.1.5 lakh and Rs.10 lakh.
The company has its retail chains across 123 countries while in India it already operates 8 stores.
The expected average annual sales for the company in India is between Rs. 5 crore to Rs. 10 crore said Bahl.
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