Singapore-based furniture and home furnishings manufacturer HTL Group of Companies is gearing up to establish 10 exclusive stores across India in 2024, featuring its renowned brands — Domicil, Corium and Fabbrica. This strategic move marks an expansion of HTL’s retail presence in the country’s major metro cities, including Delhi, Hyderabad, Chennai, Mumbai, Bangalore and Pune.
HTL entered the Indian market in 2021, operating through two subsidiaries — New Century Sofa for manufacturing and New Century Trading for business operations. The decision to establish manufacturing facilities in Pune and Chennai was driven by market demand, the availability of skilled labor and government support for Make in India initiatives. Additionally, factors like global anti-dumping duties and rising post-Covid freight costs, coupled with India’s favourable proximity to key export markets like the US and UK, made domestic manufacturing economically viable and environmentally sustainable.
HTL has reportedly invested Rs 170 crore in production setup, expecting this investment to sustain operations for the next three years. With a goal of generating Rs 150 crore from Indian operations by December, HTL is also eyeing expansion into the Middle East and Africa, with plans to establish a pivotal office in Dubai by November.
Image credit: HTL
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