ADVERTISEMENT

JSW Group Forays Into Steel Furniture Business

JSW aims for Rs 250 crore revenue from furniture sales in two years, says JSW Living MD Tarini Jindal Handa. 

Furniture sits inside a home. ( Photographer: Anthony Kwan/Bloomberg) 
Furniture sits inside a home. ( Photographer: Anthony Kwan/Bloomberg) 

JSW Group today announced its foray into the $19 billion furniture industry in India with the brand name Forma, which will come under JSW Living.

The company said it is working on an asset-light model and has employed third-party manufacturers to make steel furniture. The Sajjan Jindal-led conglomerate said it will set up retail stores in 100 towns across India.

JSW Living said it has launched 30 stock keeping units and plans to increase it tenfold across home furniture and accessories. “We aim for sales of Rs 250 crore in the next two years,” Tarini Jindal Handa, managing director of JSW Living, told BloombergQuint in an interview.

“The launch of Forma enables the infrastructure conglomerate to capitalise on the immense growth potential of India’s furniture market which has been recording a compounded annual growth rate of 11 percent in the last five years,” JSW Group said in a press release.

The organised furniture industry is only 16 percent of the overall market size.