Integrated furniture manufacturer, Timbor Home Ltd has received a fund of Rs 6-crore from the Small Industries Development Bank of India (SIDBI) to establish high-end ‘intelligent kitchens of India' (IKI) stores across the country in 2012-13, according to a BL report. While the company's existing 100 plus ‘Timbor Cucine' modular kitchen stores are targeted at the ‘price conscious' spending class, the IKI stores will be positioned to attract the premium upper-end of the young Indian consumers.
High growth rate
The modular kitchen market in India has been growing at annual rate of 50 percent and is expected to maintain this growth rate for some more years. Modular kitchens are customised according to consumer requirements, Anant Maloo, Chairman and Managing Director, said. Modular kitchens provide multiple benefits to the consumer. One can freeze a kitchen estimate and view the kitchen before ordering, do away with the hassle of hiring a carpenter and running around for materials. A modular kitchen can also be expanded or reduced in size at later stages and can be relocated too, he added.