Expansion of Furniture start-up in India is largely due to evolution of online shopping. Today, people have an option to customise the furniture for their Home or offices by just few clicks. Big players like StitchWood are dominating the industry in India. StitchWood gives complete freedom to its customer to customise their stuff as per their need. Even customers can have a look of how their stuff will look like? Formerly people used to hire a carpenter to get their stuffs ready but StichWood solves all such problems.
StitchWood is the only one to provide customisation. In short, StitchWood has an edge over its rivals. Pepperfry, UrbanLadder, LivSpace are some of indirect competitors of StitchWood. StitchWood direct competitors are local carpenters. StitchWood aims to organise the furnishing industry in India. Furniture industry in India is highly unorganised. Everyone has different requirement of furniture, StitchWood provide flexibility to everyone.
Mumbai based StitchWood had its feet in Mumbai. But North India and Karnataka were the best market for StichWood paralleled to Mumbai. Therefore, to expand the business the company started its operation in Delhi and Bangalore. Company also works in ready-made equipment who wants their couch early and to be in competition with other companies like Pepperfry and UrbanLadder. Earlier, StitchWood deals only in sofas but now they deal with every kind of stuffs comprising of Beds, Dining Table, Chairs, Wardrobe, Cabinets and many more.
Furniture market in India
Large part of furnishing industry in unorganised in India. In last couple of years, start-ups in furniture industry organised the market in metro cities. Notably, Tier-II and Tier-III cities are still highly unorganised and still uses an old age technology. There is a large need to organise furniture industry and to offer more options at competitive prices. Home and Office stuffs contribute a major share in furnishing industry. Couch on rent has more demand in metro cities. People with transferable jobs often opt for stuffs on rent for a year or two.
Likewise, renovation of Home or Workplace is the emerging sector for furniture start-ups. Many people require professional and skilled carpenters for renovation and decoration. In addition, to capture the wide demographical area, StitchWood started delivering stuffs costing more than 1Lakh in most of the parts of India.
Future scope and use of Funding
StitchWood god its recent seed funding of USD 200,000 from Mr Deepak Gupta. StitchWood has a long way ahead to offer services. StitchWood would try to expand in many more areas. StitchWood has good business in both customised furniture as well as ready-made furniture. Now the company should try to offer more products and more customisation to customers. StitchWood will now launch a mobile application. There is high demand for rental furniture in metro cities. To expand its business, StitchWood should also offer stuffs on rent at a competitive price.
For customised market research reports for any kind of startups and business in any industry, you can contact Craft Driven Market Research team here directly.
Tags: Craft Driven, Craft Driven Market Research, furniture, market research, startup, StitchWood