India’s Greenply Industries, which manufactures plywoods, laminates, decorative veneers, particleboards and MDF, plans to establish 25 design studios over the next 12 months to sell laminates and decorative veneers, reports the Financial Chronicle.
‘The Green Studio’, as each one will be called, will have an area of 750-1000ft2 and be situated in areas earmarked for real estate activity. Greenply says it eventually hopes to establish 100 centres, which will display the company’s entire decorative range under one roof.
The company, which has a turnover of Rs877 crore (US$190m), attributes its growth to India’s recent economic boom.
Greenly has a 25% market share of India’s Rs3,000 crore (US$645m) laminates market, which is growing at 5% per year. Its chief competitor for market share is the Merino group.
Decorative veneers form a significant segment of the Rs7,800 crore (US$1.68bn) plywood market.
