SSIO – III
Founded in 1990 by Mr. Jagdish Gupta, Stylam is one of the largest laminates players in India. The global decorative laminates market is estimated to reach $8B by 2025 at a 5% CAGR. India’s INR 8,000Cr. laminates market is growing at 6% overall driven by increasing urbanisation, revival of real estate, and growing office spaces. The INR 2,000Cr. export market is growing even faster at 7% driven technological advances by Indian manufacturers, and recalibration of supply chains away from China.
Within the domestic market, the pandemic has adversely affected the unorganised sector, with struggling fragmented players shutting shop. Consumer preferences are shifting towards quality, branded products – creating an increasing move from unorganised to organised. Growth will be further driven by the furniture market, set to reach USD 30B by 2024. With a 20%+ share in the export market and exports to 65 countries, Stylam has built strong brand acceptance globally. Going forward, growth will be driven by creating a strong foothold in the domestic market – growing from 1,500 dealers to 8,000 dealers over the next 2 years. Stylam has a strong new product development channel, having pioneered several industry-firsts – hot-coating process, acrylic solid surfaces, etc.