How would you differentiate your brand in the home décor segment of India?
We will draw upon our expertise in the field (our parent group Khazana has been representing many European and American brands for 30 years under the brand name Elevate X). Our products may emit a sense of luxury; for example, our three-seater sofa designed by an international designer may look like it is worth two lakhs but is actually only 75,000-80,000!
Going beyond mere aesthetics, Bay Window will encompass comfort, style, and functionality, without compromising on quality. We will collaborate with global designers to curate a diverse range of home decor products to cater to various tastes and preferences. We believe that our international designs will bring a different perspective to furniture design in India.
What is the business model of Bay Window?We have two formats: our flagship 3 to 4 storey stores and the galleries, which are smaller formats, typically one floor/one level, which will function like experience centers. We will have a mix of both flagship stores and galleries in all the cities that we plan to expand to, and also an online store.
Bay Window is here to cater to the home decor sensibilities of Indian consumers with its range of products that bring modern design, functionality, and comfort to spaces along with affordability. Our aim is to be seen as a complete lifestyle brand and to build a brand that is accessible to customers aspiring to create a more modern lifestyle.
Siddhant and Shivani Anand
The fact is that the entire collection of Bay Window has something to offer every city. The brand offers multiple design genres; it is a city agnostic brand. We will not have to change a collection for a city, but we will have to tailor a collection accordingly. For instance, our collection for Delhi might be a little different from that of Mumbai where the homes would require more compact pieces.
Are all your products made in India?
Currently, India’s furniture market is a 1,20,000-crore market. However, only 10% of it is organized. We see a lot of potential for its growth given the fast expanding real estate sector and its offerings of apartments, villas, second homes, resorts, and farmhouses across the country.
The challenge is moving to the organized segment; but buyers in India are evolving. They are more aware now and gradually moving to the organised segment where there is transparency, with brands ready to give information on the date of manufacture, type of wood used etc.
What potential do you see for Bay Window and what are your future plans?Currently, we are dabbling in various materials: fabric, wood, cane, metal, and even marble. We want to create a palette of designs that draws inspiration from cultures across the world. Along with our in-house design team, we collaborate with independent designers.
We are maintaining our price points through limited batch volume production but are providing products with a lot of options as regards colours, fabrics, types of wrood, and finishes. We will also offer customized furniture pieces in the future. Eventually, we will expand from furniture, lighting, and rugs to soft furnishing. We plan to roll out our stores across 10 cities over the next 3 years and provide omnichannel shopping experiences with lightning-fast delivery.