Parag Kulkarni, vice president of the company who heads the furniture division, is quoted by The Economic Times as saying that production of the furniture line will start at the new factory the company invested in, in Maharashtra State.
Currently, the company’s premium furniture is sold by foreign brands. “Our popular range of furniture is manufactured through captive vendors,” says Kulkarni, adding, “The premium range is priced higher and not available at all places while the I’M range will be 35% costlier than our current range but cheaper than foreign brands.”
The new factory comes as part of the INR1,000 million ($19.4 million) investment that the company has made in this fiscal, among other factories they have invested in. The in-house production is aimed to gain greater control over the design process.
