U.S. brand Steelcase eyes 50% share in India’s ₹2,000-crore ‘performance seating’ market
The HinduSteelcase, a Michigan-based comfort office seating and work solutions brand said it aims to capture more than 50% of share in India’s ‘performance seating’ market in the next three to four years. The country’s organised office furniture market is pegged at ₹5,000 crore, of which the high-end segment accounts for ₹3,000 crore and comprises ₹1,500-2,000 crore high-end performance seating by international brands, according to an estimate by Steelcase. “‘We are targeting a 50% market share in India’s premium and performance work seating space in the next 3 to 4 years,” Tirthankar Basu, India Managing Director, Steelcase, told The Hindu. “So, companies want to give a diverse palate of choice without increasing the square foot space and real estate cost.” Steelcase, which posted a revenue of $3.2 billion in calendar 2023, is the only international furniture brand with three factories in the Asia Pacific region: China, Malaysia and India, according to Mr. Basu.
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