Home comes first for most
You may fancy many fine things in life — a posh car, the ‘it’ bag, sky high killer stilettos and a designer dress, but studies have shown that people want to decorate their homes with the best money can buy, before indulging in any of these fancies.
An arty and unique home decor, rates above any fashion accessory and is a fine reflection of your refined taste. “The fact that many of us now own luxury items from the world renowned luxury brands, has propelled people to decorate their living spaces with the finest luxury furniture brands. These brands bring cutting edge designs to transform the look of your living spaces into areas of sophisticated opulence,” explains Samvit Tara of International Furniture Brands.
The luxury home decor market which was almost non-existent a decade ago, has been growing at the rate of 20 to 25% in recent times and is expected to double in the next three years.
Such is the demand that a newly opened fashion and lifestyle mall, The Gallery at MG, has two floors dedicated only to home decor brands. “People were always importing hi-end decor brands as it is not just a luxury, but also a necessity. With the mall having many luxury brands in one place, it gets convenient for the shopper,” says Shabnum Singhal of Sirius.
“There are all kinds of customers — some just believe that expensive is luxury and some want to be creative. Many hire the services of interior decorators to get the best for their home. The luxury brands, however, cater to a very niche audience, say interior designers. “More than the luxury segment the demand is for the hi-street brands in decor, which are experimental, well-finished but affordable,” says Aanchal Nath.
Truly a regal affair...
What’s luxury: Luxury home decor covers everything from marble pillars to oyster shell damask table linens. Quite often, these original, showcased items will be one-of-a-kind. Most luxury labels have a strong lineage and heritage.
Why choose luxe: Some of the highest quality furnishings for the home come from top brands such as Giorgetti, Ceccotti, Desalto, Cassina, Cappellini, B&B Italia etc. International clothing brands such as Burberry, Fendi and Versace and Indian designers such as JJ Valaya have also made a foray into this segment.
Price point: The best in the market, comes at a high price. While, a cup would cost you something around Rs 3000, a sofa would cost you anything above Rs 5 lakh per seat. Everything from the finish to the texture and materials used are of the finest quality.
Imitations: With the luxury home decor segment options available in the market, imitations of their products will soon be available in the market at almost one-fifteenth the price of original.