Now that the world knows that Sitting Culture (Ecumen and HOF’s joint ecommerce venture) is an exclusive online selling platform that sells ergonomically designed chairs. Right from business leaders, to students, this portal will make HOF products available across 70 per cent of India through the tie-up with their logistic partners FedEx. While HOF would be offering its products, Ecumen would be involved in maintaining and marketing the platform. Interior Designers & Architects can also browse through the products and share them with their clients, straight from the site. The site also offers multiple payment options apart from regular & customers can also buy products on EMI. The cloud-based website will offer chairs in the price range of Rs 3000 to Rs 1 lakh.
Following the success of Sitting Culture and their new overseas HOF Kathmandu store, we are now planning to open stores in various key Asian and African markets. The online platform will be of critical value in terms of helping us reach even places where we do not have any stores.
We are also in talks with European and US based brands for potential tie-ups for sourcing of furniture in near future. By this initiative we are trying to become a second sourcing option after China and want to make India a manufacturing hub. Although it will take some time before these initiatives see some fruitful results. At present HOF has an installed capacity of 2000 chairs per day at its Ahmedabad unit whereas the current capacity utilization is that of 500 chairs per day with that said, we are still pushing our limits and are ready to meet the rising expectations of our clients.
According to industry sources, the total chairs market in India is estimated to be around 2 million of which organized market’s share is around 20-30 per cent. Of the total organized market, HOF has around 5-6 per cent share at a turnover of Rs 30 crore. And at present the company is growing at a CAGR of 15 %.
HOF has already made great strides and has a strong presence across India. Now after launching Sitting Culture portal, we are pretty confident in making inroads to the overseas markets.