MyTrident eyes larger slice of India's INR 45,000-crore home furnishing market as it expands to B2C

Known for its business-to-business (B2B) textile fabric manufacturing products in India, Trident Group decided to enter the business-to-consumer (B2C) category with its flagship home domestic brand, myTrident, in 2014. A decade later, the brand is gearing up to expand its reach across the country and is looking to double its offline presence from 5,000 to 10,000 stores.

India's massive INR 45000-crore home furnishing market still remains largely unorganised, and myTrident has achieved a 1% marketshare so far. “Not sufficient for us! I think the market size is big. In India, the top four to five players, including us, should be able to provide consumers with evolved products and grab around 25-30% combined marketshare,” Rajneesh Bhatia, CEO of myTrident, informed Campaign.

He opines that as the market witnesses 9% y-o-y growth, the unorganised-to-organised curve has to move faster than the current growth rate for the disparity to shrink.

Bhatia, who has been with the Trident Group for 25 years, has been instrumental in conceptualising company’s B2C bet through formation of Trident Global Corp Ltd (TGCL), the entity that runs the brand myTrident. “I realised I was responsible for walking the talk and it took us some time to do the transition. We decided to build another company for myTrident with separate P&L and unit under Trident Group," he explained.

Eager to expand its portfolio, the company planned to have two brands in luxury and premium segment. Currently, it has set its proposition on “affordable luxury” and wants to build on it with unified focus in the years to come.

From placing its bet on D2C and quick-commerce to working on Group’s strength in offline trade, Bhatia shared how the homegrown brand is now adopting omni-channel route to solidify its presence in India.

“D2C is a challenging area, gives lot of insights because you are directly interacting with the consumers," he stated. "Five years down the line, this is the same TG that will be doing offline purchases. It’s important we catch them young and also evolve with them.”