Electronic Giant Intex Forays Into Furniture Business

Electronics brand Intex Technologies, which manufacture and sells TVs, fridges, washing machines, mobile phones et al has forayed into modular furniture business at B2C level. To take this objective forward, Intex launched a four floored, 7200 sq ft showroom in Kirti Nagar of West Delhi.

Rajiv Kapoor, VP, modular furniture business, Intex Technologies said “We are targeting 5-7 outlets in the coming year those will be high-end retail outlets where we will be competing with brands like Durian, StyleSpa, Evoke and Godrej and the floor size will be minimum 15,000-20,000 sq ft. We will be displaying the entire home, office and kitchen products showing new designs and emerging trends in the market. This we aim to achieve by 2018, with an investment of 10-15 crore. Most of the brands are venturing into new verticals, where they multiple their investments and progress ahead. For us in furniture segment, there is a huge demand in terms of providing right solution, right designs, and look and feel factor to costumers and that’s why we launched this business.”

Idea of coming into furniture business started taking shape around four years back when the company had a factory to produce speaker boxes and the other wooden material. Realising opportunity in the booming Indian furniture business especially in home, office furniture and kitchen, the company thought of venturing into this category.

Intex is targeting tier II and III cities to set up these furniture stores. The company hopes its new venture will add up its customer base and there is no fear of losing loyal customer base.