Godrej Interio, a leading home and office furniture company, has set its eyes on the southern market. The region contributed only ₹180 crore, or about 5 per cent to its turnover of ₹3,200 crore, last year.
“We would like this to grow. We are opening a number of stores in the region,” Dev Sarkar, Senior Vice- President and Head of Consumer Business (B2C) at Godrej Interio, said.
Addressing a press conference here on Friday, he said that the share of organised furniture industry was very low.
“With the upcoming festival season, we anticipate a significant increase in sales, reaching 30-35 per cent of our total revenue from the southern region,” he said.
“While the overall furniture market in the country stands at ₹1.40 lakh crore, the bulk of it is unorganised. The size of the organised furniture market is just ₹8,000 crore. We are encouraging more players to come and join the organised space,” he said.
He said the company was expanding its footprint very fast. “Beginning May 2023, we are opening at least two stores a week. We would like to continue this tempo,” he said.
“The company’s retail outlet network has crossed the 1,000-outlet mark recently,” he said.
In the two Telugu States of Andhra Pradesh and Telangana, the company plans to open 25 new showrooms and 150 retail outlets in the next three years.
“Godrej Interio has a strong brand recall and significant customer base throughout the country. With a 21 per cent market share in the organised home furniture sector in Telangana, we are targeting a share of 30 per cent by 2027,” he said.
Festival offers
The company announced a scheme for the upcoming festival season, with discounts of up to 35 per cent and a chance to win free furniture.
The company has 7 manufacturing facilities at Mumbai, Khalapur, Haridwar, Shirwal and Bhagwanpur.