After the phenomenal success of Naturevibe Botanicals, Rishabh Chokhani, a budding entrepreneur and the owner of the brand is all geared up to create a mark beyond the organic industry by investing USD 1 million in a home décor brand named Essencea.
Through this investment, Chokhani intends to tap into the new industry and unlock the door of opportunities thereby creating milestones in the home décor segment. The new business venture will be jointly led by Rishabh Chokhani and Karan Chokhani.
The products from Essencea will be manufactured in India and the designs will be customized according to the preference and taste for the consumers. The company holding expertise in home décor products will be exporting products including cushion covers, bed sheets, pillow covers for a large base of customers in the USA, which comprises consumers, hotels, spas and motels.
Rishabh Chokhani said, “I always get inspired to do things that motivate me and venturing into a new business is certainly something I look forward to. The response I have received for Naturevibe Botanicals has been prodigious and I am highly optimistic that the customers will welcome our new endeavor wholeheartedly. With this, I plan to tap into a new segment and add some royal touch to the home décor market with exquisite quality and competitive price.”
Karan Chokhani stated, “With Home décor segment occupying such a massive space, I wanted to explore the various opportunities being held by this promising industry. With this initiative, I am highly optimistic about the response from the customers and hope that Essencea will be able to serve them with the best products, thereby establishing a long-term bond with them.”
The Growing Demand for Home Décor Services
According to a report, the global home decor market is predicted to triple by the end of 2020, which is a great opportunity for all those entrepreneurs that believe home décor can be their market for running a business.
The growth of this sector is pushed by the rapidly changing behaviour patterns of consumers because of the influence of factors like urbanisation, cosmopolitan culture, customisation, and theme-based interiors.
The growth in customer demand has directly impacted the home décor franchise segment, allowing it to boom simultaneously with time. The industry is now a full-fledged segment in itself, promising to offer different kinds of services such as home window dresser, home accessories organiser, entire home makeovers, eco-friendly home décor services, and others.
In India, commercial and residential construction accounts for 40 to 50% of spend on home improvement, owing to the increased urbanisation. These statistics suggest that the industry holds enormous potential at present and will continue to do so in the near future, alluring entrepreneurs to take a glance at this booming market.