HTL International Targets to Double India Revenue, Eyes Premium Market

Singapore-based furniture major HTL International is sharpening its India play with an aggressive expansion plan that aims to double its revenue contribution from the country to 10% within three years. The upholstered furniture specialist, which began Indian operations in 2022, is betting on the country’s growing appetite for premium home décor as incomes rise and consumers trade up.

HTL International has so far established 30 shop-in-shops for its key brands — Domicil, Fabbrica and Corium — and plans to expand that footprint to 60 shop-in-shops and 10 mono-brand stores over the next two years. The new stores, a mix of company-owned and franchise formats, will come up across metros and Tier-I cities.

“India holds immense growth prospects and is central to our global strategy,” said Manoj Kumar Nair, Country Head (Brands), India, Middle East and Africa, HTL Group of Companies. “Our goal is to make India a major contributor to HTL’s global success while bringing world-class design and comfort to Indian homes.”

Also Read: ‘We will deepen rather than widen presence in consumer biz,’ says Nyrika Holkar

The group’s strategy hinges on occupying what it calls the “mid-high” segment — the underserved space between mass-market and luxury furniture.

“We’ve seen a clear void in India’s premium category. Consumers are increasingly viewing furniture not as one-time buys but as lifestyle investments,” Nair added.

The opportunity is sizeable. Industry estimates peg India’s overall furniture market at $23–30 billion, projected to grow at 10–11% CAGR through 2032. The upholstered furniture segment, HTL’s core, is valued at $11.98 billion in 2025 and expected to touch $16.69 billion by 2030. Even the luxury furniture segment is growing steadily, estimated at $4.35 billion in 2024, expanding at 4.24% CAGR.

Also Read: With new logo and strategy, Interio by Godrej targets younger consumers

Notably, as per the company, HTL International is the only global furniture manufacturer with a dedicated plant in India. Its Chennai facility serves both domestic and export markets — including the US, UK, and Middle East — and will be scaled up to meet rising local demand.

Also Read: Ikea’s expansion plans to be mix of online & physical store

The company’s global design network gives it a speed-to-market advantage, enabling the launch of over 250 new designs annually. The next phase of growth will also see HTL International expand beyond sofas and seating, with plans to introduce premium mattresses under the Domicil brand for Indian consumers.