Malini Raghavan, a marketing professional who loves to socialise and invite her friends over, prefers changing the décor and look of her house frequently. However, her preferences have changed over time. She now wants to flaunt a house with designer furniture that is aesthetically pleasing and can fetch her endless compliments.
Malini isn’t the only one who is enticed by innovative designer furniture and home furnishings; of late, many Indians in the early phase of their careers have developed an inclination towards premium and luxury range of furniture, ditching the boring and monotonous Spartan living. Wonder why?
There was a time when people in India belonging to the Generation Y could only dream of acquiring stuff when they grew up. With their low disposable income, the idea of ownership was impractical. Their priorities usually lay in gaining experiences, something which saw them spending more on travel, automobiles, and latest gadgets amongst other things. For this globally connected generation, owning premium, designer furniture with expensive price tags was almost unthinkable. Given how India does not have a local furniture design ecosystem, imported designed furniture was restricted to the elite, with a large majority of aspiring consumers unable to afford it. However, with the dawn of the concept of furniture rental in India, luxury designer and premium furniture finally has many takers.
Furniture trends, like fashion, are constantly in flux. What’s in vogue one minute can be obsolete the next. Millennials are now following this practice to design and build their homes. With their well-developed sense of taste, aesthetics, and value, they prefer good looks at decent costs. Thus, furniture rental concept in India is working out well for them because affording designer furniture for their homes has now become within their means. Not only does it add to their social status, but also allows them to keep changing the look of their house without splurging unnecessarily or taking the pains of selling old furniture. They can mix and match, change the colour tones and play around with themes.
With the pace at which millennials are warming up to the idea of furniture renting, the industry is expected to touch the $20 billion mark in the next 5-7 years. Online furniture marketplaces like, Furlenco, are contributing to this escalating demand for high-end designer furniture by enabling people who do not prefer to stay committed to a piece of furniture, to rent the design of their choice, at their convenience.
The author of the article is Kranti M, Vice President of Design and New Initiative at Furlenco.