German furniture maker Nolte enters India

Nolte Group, a Euro 500 million German furniture manufacturer, has tied up with Bangalore-based property developer SJR group to enter the Indian market.

Announcing the group's India plans, George Nolte, chairman Nolte Mobel, said that the company with it's global retail presence, it is only a natural progression for it to enter India.

"With the absence of any global players in India in this segment, we will be in a strategic position to cater to the Indian consumer who is in sync with the global lifestyle and fashion trends," he added. It aims to have a pan-India presence by end of the year.

Nolte is to offer its kitchen and home furniture collection through concept stores called 'Nolte Home Studio' which will come up across all major cities, starting from Bangalore.

The organised Indian home furniture market is presently valued at Rs 10,000 crore and is growing at 12 per cent. The growth rate is expected to accelerate to 20 per cent over the next three years.

Nolte product solutions (say, a drawing room set) are priced between Rs 2-20 lakh is targetting high-net worth individuals and high-spending IT manpower in the southern cities of Hyderabad, Chennai and Bangalore.

The company will offer in India the same range and features being offered in Europe. For the first three years of operations, the group is aiming at Rs 100 crore revenues, said J Boopesh Reddy, managing director of SJR group.

Nolte is bringing to India Gullwing sections in cabinets which maximise every inch of space and chromeline interiors and soft closing doors and drawers which ensure longevity and convenience, said Hans Hermann Hagelmann, CEO of Nolte Kuchen.

Adding further, Christian-Lutz Neubert, CEO, Nolte Mobel, said the company's products are suited for India as they and made of chipboards which are sealed on all sides, making it extremely durable. The cabinets also have automatic air sealing, making them airtight.