Pune-based Creaticity, a key division of Deepak Fertilisers & Petrochemicals Corporation Ltd. (DFPCL), has taken a significant step towards reshaping India’s home decor and furniture landscape. In partnership with Thailand’s renowned furniture giant, Index Living Mall (ILM), Creaticity has invested $1 million to set up a 32,000 square feet retail showroom. This marks ILM’s foray into the Indian market, providing a new opportunity for local consumers to access premium and affordable furniture collections.
The collaboration, based on a franchise agreement, combines Creaticity’s deep understanding of the Indian market with ILM’s globally recognised furniture designs. Creaticity will oversee the showroom’s operations, including the setup, while ILM will provide support in the form of product supply, software, and marketing. The 32,000 sq ft space will showcase a broad range of ILM’s products, initially offering 4,000 out of the company’s total 12,000 SKUs, spanning various price points to cater to diverse consumer needs. The Head of Retail & Commercial Operations at ILM, stated that the company already sources over $10.5 million worth of products from India for its global supply chain, primarily focused on soft furnishings. ILM plans to deepen its roots in India by introducing local production within the next 12 to 24 months, particularly for custom products under its ‘Unique’ brand.
Creaticity’s investment and strategic approach reflect its ongoing commitment to expanding its footprint in India’s burgeoning home décor market. Spanning over four lakh square feet, Creaticity is a significant player in Pune’s retail landscape, with approximately two lakh square feet dedicated to home and furniture retail. The company operates through a mix of straight rentals, revenue sharing, and exclusive franchise agreements. With an 85% occupancy rate, Creaticity has become a sought-after location for home retail businesses. Additionally, Creaticity is actively exploring two more potential locations in Pune to further expand its retail presence. The CEO of Creaticity, highlighted that the company is also building a ‘house of brands’ portfolio strategy, planning future expansions across India. This ambitious approach seeks to leverage India’s growing demand for quality home furnishings, positioning Creaticity as a major player in the Indian retail space.
From a sustainability perspective, the partnership also holds promise. ILM’s intention to introduce local production will reduce the carbon footprint associated with importing large quantities of goods. Additionally, the integration of local suppliers into the supply chain could provide a more sustainable, long-term solution for meeting India’s increasing demand for furniture, offering economic benefits to local manufacturers and consumers alike. With the Indian home décor market growing rapidly, this collaboration between Creaticity and ILM could serve as a model for future retail ventures. However, the success of this joint venture will ultimately depend on its ability to meet local consumer preferences while ensuring operational efficiency and sustainable practices. Consumers, particularly in metro cities like Pune, are expected to welcome the variety and quality of ILM’s offerings, but the true test will be how well the showroom integrates with the ever-changing demands of the Indian consumer base.
