Luxury carpet brand Obeetee to expand its commercial footprint in subways

NEW DELHI : Luxury carpet exporter Obeetee, owned by Luxmi Tea Company which produces Makaibari tea, is getting aggressive in the domestic market with the launch of new stores in metropolises. Obeetee, which derives 80% of its export business for hand-knotted rugs, is aiming for 10 stores within 3 years.

The company has launched its second retail store in Delhi, has an outlet in Mumbai and intends to open another in Hyderabad within the year, its chairman Rudra Chatterjee told Mint. Chatterjee is also the general manager of Luxmi Tea. The company will also open retail stores in Bengaluru, Kolkata and Chennai.

Obeetee Private Ltd is a wholly owned subsidiary of Luxmi Tea Company and has five subsidiaries in the hand knotted and hand tufted carpet industry including Obeetee Retail, Obeetee Textiles. Based in Mirzapur, the company manufactures hand-knotted, hand-tufted and machine-made rugs primarily for businesses – offices and hotels – and counts hotel brands such as Oberoi, Leela Palace and Taj Hotels among its customers.

“The past two or three years have been devastating for weavers and we have launched many special programs to keep weavers engaged. What has helped us is that the demand has not dropped at all. A lot of people started spending a lot more time at home and started getting interested in our products. The Indian furniture market is also taking off,” Chatterjee said. One of the company’s subsidiaries also sells furniture.

Chatterjee said the century-old company started selling its rugs online during the pandemic for retail customers, despite it being an expensive item to buy online. The price of the company’s mats can go up to 10,000,000.

Along with the launch of the new Obeetee boutique in Delhi comes the launch of a new collection in collaboration with designer JJ Valaya which draws inspiration from Kashmir and Marseilles, France using jamawar fabric. Although the designer has “The Valaya Home” for furnishings, this will be his first time designing rugs. “It’s a natural fit for us with a legacy brand with good metrics. Creating good design is part of the story, but being able to produce it in the same spirit and sell it is an area where both of our brands are doing well. married,” Valaya said.

To be sure, Obeetee has partnered with designers like Raghavendra Rathore, Abraham & Thakore, Tarun Tahiliani, and Shatanu & Nikhil for its rug collections in the past.

According to an earlier report by rating agency ICRA, Obeetee’s operating profit had increased to Rs. 538.4 crore in FY2021 from Rs. 509.5 crore in FY20 with improved demand from end consumers. He said exports contribute more than 80% of the handmade rug business’s revenue. The company also has links with wool yarn manufacturers and has artisans in Uttar Pradesh and Bihar.

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