Monday, 1 June 2015
The Demand for Luxury Furniture Grows With The Rise Of Salaried Urban Population
Luxury furniture retailer Casa Convenienza pairs up with Roche Bobois the popular premium luxury furniture designer to explore the Romanian market, opening new stores in Bucharest. This is just another climb in the luxury furniture segment that is appending aesthetic value of offices, shopping centres, offices and so on. Additionally, it won’t be wrong to quote that the premium furniture is now a part of nearly Euro 396.46 billion furniture industry.
This metier business market of sans pareil finishing and fixture looks much disunited when it comes to fulfilling demands, by majorly family run business. Furthermore, by geographic region, Europe leads the market for premium furniture, followed by the developed nation United States as well as Asia –Pacific region. To top it all, since last four to five years, the luxury furniture market has observed animpeccable growth as a result of growing economy, HNW, ever-changing behavior of the consumer across the globe and rising impact of the upcoming markets.
The Italian lavishness in at peak of premium brand Fendi Casa’s latest 2015 collection which stole several hearts at the Maison & Object held in Paris. In addition, RH CEO Gary Friedman who plans on positioning his company to be “one of the most dominant and exclusive luxury home furnishings collections in the marketplace.” Friedman adds “But it’s important to note that this aspiration is not born out of greed or power.” He writes on his RH’s site, “I believe we are making a difference, creating a ripple…It’s not about the furniture. “
According to a report published by Allied Market Research titled “Global Luxury Furniture Market (Material, End-Use and Geography) - Size, Share, Global Trends, Company Profiles, Demand, Insights, Analysis, Research, Report, Opportunities, Segmentation and Forecast, 2014 – 2020.” As per the report the luxury furniture sector is highly influenced by the dynamic environment of its five distinct product category including the Lighting, Living and Bedroom, Bathroom, Outdoor as well as Kitchen furnishings . Albeit, the living and bedroom furniture market have emerged as the flourishing segment, the swift in outdoor living has fuelled growth of outdoor furniture. To conclude rising counts of aspirational end –users, majorly the young working class and home owners have contributed to the demand for more premium and durable furnishings.