PNN
Hyderabad (Telangana) [India], March 1: City-based Altairo Private Limited on Thursday forayed into European luxury furniture segment by inaugurating its first state-of-the-art, over 12,000-sft outlet at Kavuri Hills in Madhapur, Hyderabad on Thursday.
"High-quality luxurious furniture designed and made in Europe, will be available at fair prices at our three-floor outlet. Available in unique designs and equally unique colours, our furniture products are priced from Rs 5 lakh to Rs 5 crore," Chandana Koganty, Managing Director, Altairo, told the media on Thursday.
"Altairo's team of experts will suggest the furniture to the taste of customers. We will also offer outdoor furniture. Plans to set up stores pan India" she added.
International brands
Altairo offers a host of international brands. Aran Cucine, the largest furniture manufacturer in Italy, has a dedicated floor at the outlet. Aran Cucine kitchens, wardrobes and office furniture are available here. Furniture products from other internationally renowned brands such as Giorgio Collection, Ghidini 1961, Cantori, Rosini Divani, Scappini Home, Marelli, Plust and Mindo, are available here. Furniture made in Spain, Portugal, France and Denmark, is also sold.
"We did extensive research about the luxury furniture market. We have taken enough care so that product designs are not repeated. We will import and supply if customers want any specific luxury furniture," she explained.
High end houses on the rise
"Hyderabad market offers huge growth opportunities for luxury furniture as the luxury real estate sector is growing at a rapid pace here. Besides, luxury homes with sizes ranging from 6,000 to 15,000 square feet will come up on a large scale in major cities across the country over the next five years," said Chandana.
She further said: "all the big clients want quality, expensive and exclusive furniture. They don't want to use designs that are used by others. These trends provide a big growth opportunity for us and Altairo will carve a niche for itself soon".
According to the company, Indian luxury furniture market is estimated to have reached Rs 36,100 crore in 2023. The industry is expected to reach Rs 44,400 crore by 2029 at a compound annual growth rate (CAGR) of 4.24 per cent.
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