NEW DELHI: Pune-based Creaticity, a division of Deepak Fertilisers & Petrochemicals Corporation (DFPCL), has associated with Index Living Mall (ILM), Thailand-based furniture and home decor company, through franchise agreement partnership.
Under this partnership, Creaticity has invested $1 million to set up 32,000 sq ft retail showroom. The partnership model involves the company investing in store setup and operations, while ILM provides product, software and marketing support.
With this collaboration, ILM’s has entered into the Indian market. The showroom will offer wide range of ILM’s furniture collections across different price points, from affordable to premium. The company has over 12,000 SKUs, of which 4,000 will be available in India initially.
Gerard McGurk, head of retail & commercial operations of Index Living Mall said that the company is already sourcing products worth about $10.5 million from India for its global supply chain, mainly soft furnishings. It plans to introduce local production in India within 12-24 months, particularly for customized products under their ‘Unique’ brand.
Creaticity is spread over four lakh sq ft with an 85% occupancy rate. Approximately two lakh sq ft is dedicated to home and furniture retail. The company’s business models include straight rentals, revenue sharing and exclusive franchise agreements.
Mahesh M, CEO of Creaticity said that they are in discussions for two other potential store locations in Pune. The company is also developing a house of brands portfolio strategy for future expansion in India.
