Italian furniture maker Natuzzi Group is planning to tie up with real-estate developers in India. The company is hopeful of capitalising on the demand for pre-furnished mid- and premium-segment apartments or condo-villas worth over Rs 60 lakh to push up its sales in the country.
The €570-million NYSE-listed company that makes leather furniture entered India in November 2010.
“We are exploring opportunities to tie up with real estate developers with an aim to provide the furnishing solutions,” Mr Nitin Bahl, country manger, India, told
Discussions are on with real estate developers that are present across the country. Agreements are expected to be finalised by the end of this calendar year.
Meanwhile, Mr Mayank Saksena, Managing Director – Kolkata, at real estate consultancy firm Jones Lang LaSalle India maintained that fully furnished flats are a new phenomenon popular with high networth individuals and corporates seeking ready accommodation. However, demand for such apartments in the mid-income segment has been low.
Natuzzi will offer all of its three brands — Natuzzi, Italsofa and Editions — through real-estate developers. Editions and Natuzzi are premium brands. Italsofa and Editions are the company's sofa line and Natuzzi offers a complete range of living- and dining-space furniture.
The company is also planning to increase its points of sales across the country from seven to 50 for all brands in three years. It plans to open 12 outlets in major cities, like Gurgaon, Kolkata, Hyderabad and Mumbai, by the end of 2011 calendar year. The company has outlets in Delhi and Bangalore.