Steelcase, a US-based player in the office furniture industry, is planning to set up its first assembly unit in India. The assembly unit, to come up at Pune, is expected to commence operations from October this year. The $2.8-billion global major currently has presence across 130 countries, with 25 assembly plants globally.
“Steelcase, which caters to high-end office furniture, has forayed into the Indian market around 8 years ago and is growing rapidly since then. We are planning to come up with an assembly unit to cater to the growing demand in this region,” Praveen Rawal, country manager of Steelcase India, said here on Friday.
He, however, refused to draw any time line for the proposed plan.
Steelcase today opened its store in Hyderabad. This is the company’s fourth store in India, with the other three being in New Delhi, Mumbai and Bangalore.
“The Indian furniture industry is pegged at $1 billion, of which the high-end premium segment accounts for $150-200 million,” Rawal said.
Steelcase’s furniture range comes at price points of between Rs 12,000 and over Rs 15 lakh. The company’s clientele in India include major corporates like Dr Reddy’s, Genpact, Zindal Steel, Google and Coca-Cola.