JSW Group has closed down its furniture retail business housed under Forma brand within one year of its launch due to “faulty business model.”
Forma was launched as a brand of JSW Living Pvt. Ltd. in April last year to help the steel -to-energy- conglomerate foray into India’s fast-growing $19-billion furniture market with the aim to figure among the top five furniture brands in India.
However, dealers point out the faulty business model and immature market for steel furnitures for the failure of Forma. “The Indian market is not yet evolved for steel furnitures,” said a dealer.
A JSW ...
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