Bengaluru: In a bid to reach out to its multi-faceted client base, IKEA India furniture is now available on RentoMojo, a consumer leasing business platform.
Speaking on the launch of IKEA India on its platform, Geetansh Bamania, founder and CEO, RentoMojo, said, “Furniture from IKEA India hugely amplifies RentoMojo’s product and service offering and perfectly complements the existing range of products by offering a large variety and cost-effective alternatives. Furniture is one of the largest categories for us and we expect it to grow by 3x over the next one year.”
According to estimates, the Indian home furniture, consumer durables, and electronics segment is poised to reach $147 billion by 2023. Lease or rental currently make up only approx. 1-2 percent of the overall market and is likely to grow exponentially over the next five years. As more and more people are constantly on the move, leasing offers them the best alternative to buying or investing by providing a no commitment, subscription-based asset procurement and lifestyle option.