This new venture is a part of Portico New York’s expansion plan to open more than 200 total touch points across retail chains and home furnishing MBOs across India. More than 100 cities now have access to trending designs through leading home fashion, lifestyle and large format stories. Portico New York intends to multiply the magnitude of the home fashion revolution by establishing EBOs as well. This will ensure that Portico New York’s products are available throughout the country.
Commenting on the addition to their expanding retail outlets, Arun Bhawsingka, CEO, Creative Portico Pvt Ltd said, “Hyderabad is a huge market and customer base for us. We are thrilled at this opportunity since it gives us easier access to our customers in Hyderabad and vice versa. India’s home fashion landscape is changing and, we, at Portico New York are the torch bearers of this change. With innovation and creativity at the heart of everything we do, we are ushering global fashion into Indian homes. More rooms in Hyderabad will now live and breathe style, just like the people who inhabit them.”
Speaking at the launch Arun Bhawsingka said, this is the 16th Portico New York’s store in the country and the first in Andhra Pradesh, we intend to open 2 to 3 more stores in Hyderabad and stores in Vizag, Vijayawada and other cities in A.P. in the next six months, as Andhra Pradesh is a high priority market for the brand, he said. The company has plans to open 200 stores across the country in the next 2 to 3 years. He said the Bed & Bath market is worth Rs 12000 crores in the country and the unorganized sector accounts for 90% of this. The organized sector is growing at 10% to 12% as more and more customers are seeking style and quality, which only a brand can promise. Portico being the leading brand in the organized sector is growing at 25% per annum. The brand is already present in 150 cities across India through multibrand and large outlets and has aggressive plans to reach out to 500 cities & towns in the next to 2 to 3 years. The product has two value brands – Portico and Westa in the price range of Rs 1500 to Rs 10,000 and a value brand – Stellar in the Rs 700 + price range. The online sale for the brand is currently 3% to 5% and is expected to grow rapidly in the next few years. The brand has wide spectrum of products targeted at kids with 12 licenses; youth; women; wedding segment etc. The brand has a special health range manufactured from seaweed imported from Ireland. Portico is a decade old premium, luxury and aspirational brand specializing in bed and bath segment with manufacturing facility at Daman. It is part of the 40 year old Rs 1000 cr. Creative Group.
Portico New York’s range include an impressive mix of bed sheets, duvets, duvet covers, fashionable and luxurious quilts, blankets, pillows, soft and absorbent towels, shower curtains, curtains, bed covers, cushions, mattress guards and a wide range of kids licensed merchandise like superman, Tom & Jerry, Dora and the Therapeia range of health bedding products. Portico New York has also tied up with renowned fashion designers. Haute Couture’s biggest names like Manish Arora, Neeta Lulla and Nishka Lulla have brought their design aesthetics and launched exclusive collections with Portico New York and the range is available at the store.
About Creative Portico New Pvt.: Now, a decade old company, Creative Portico Pvt. Ltd is a leading player in bed & bath soft furnishing in India. It offers 3 brands in the soft furnishing segment namely, Portico New York, Stellar Home USA and Westa Home. For more information please visit www.porticoindia.com
