Godrej Interio Bets on Ecommerce to Increase Revenues by 40%
The business observes a growing trend in purchase of high value furniture items
Plans to increase the number of pin codes available for online shopping by 1500 and the number of retail outlets by 100 in FY 23-24.
Godrej & Boyce, the flagship company of the Godrej Group, announced that its business Godrej Interio, India’s leading furniture brand in home and institutional segments has announced that it will generate INR 2500 crore in revenue by the end of FY 22-23. Earlier this year, the brand witnessed an integration of U&Us, an end-to-end home interior solutions brand and Script, premium furniture and home accessories brand in it’s portfolio. In addition to this, Godrej Interio expanded it’s reach by launching 100 stores in FY23 to reach potential customers in the country.
By increasing its delivery points to over 100 cities currently, Godrej Interio is targeting to increase the revenue generation by 30% in FY23-24. In order to provide more accessibility to clients over a wider territory, Godrej Interio will be expanding up to 100 outlets throughout India in Tier 1, 2 and 3 towns in FY23-24. Godrej Interio is leveraging digital tools and technologies to create more engaging experiences for its customers in order to improve the furniture buying experience. To enhance the consumer experience, Godrej Interio will also be experimenting the newer technologies and digital tools in smaller stores.
Swapneel Nagarkar, Senior Vice President & Business Head, Godrej Interio said, “As India is on the course to become 3rd largest economy by 2030, our goal is to make ourselves accessible to all our consumers around the nation. Along with stepping up our online presence, we’ll keep growing our offline retail presence. Given that furniture is a touch and feel category, we observed that many customers purchased the item from our stores after researching it online, so we enhanced our use of digital technology to assist them in making a purchase they would be delighted with.
This year Godrej Interio revenue grew 20% compared to FY 21-22. In the next 2-3 years, we will focus on increasing market penetration and serving to tier 2-3 cities. We intend to boost our own D2C ecommerce channel by expanding deliveries to 1500 pin codes and improving the delivery backend, with the goal of doubling the platform’s sales run rate by the end of this fiscal year. We have been growing at a CAGR of close to 20% for B2C products, 20% for B2B products and overall growth rate accruing up to 20 percent. Through our greater reach via expansion in e-commerce and retail stores, we plan to focus on Hybrid Work and multifunctional furniture offerings in addition to regular home furniture.”
Additionally, Godrej Interio plans to invest INR 150 Cr over the next one to two years in upgrading the best in class technology and machinery for manufacturing of all different types of furniture.
About Godrej Interio:
Godrej Interio is India’s leading premium furniture brand in both home and institutional segments with a strong commitment to sustainability and centers of excellence in design, manufacturing and retail.
Led by the largest in-house design team in the country in the furniture category and awarded with 34 India Design Mark Awards till date, GODREJ INTERIO aims to transform spaces with its thoughtfully designed furniture to create brighter homes and offices with products that have the highest design quotient in aesthetics, functionality and technology. With consistent pursuit of excellence and a special focus on health and ergonomics, GODREJ INTERIO’s product portfolio comprises of a wide range of solutions
Today, we design and manufacture furniture for office spaces, homes, educational institutes, healthcare facilities, laboratories and more. Along with furniture we offer Audio Visual and 360 Degree Turnkey solutions. Each of our product range revolves around comfort and aesthetics while delivering well-designed, long lasting and functional furniture solutions. In short, Godrej Interio helps the consumers to make every space the perfect setting for their myriad moods and moments.
Currently present in over 650 cities with 250 exclusive showrooms and 800 dealers, is one of the largest divisions of Godrej & Boyce Mfg. Co. Ltd., part of the Godrej Group, one of India’s largest engineering and customer product groups.
Godrej Interio has 7 manufacturing facilities situated at Mumbai, Khalapur, Haridwar, Shirwal, and Bhagwanpur. GODREJ INTERIO’s Shirwal Plant is Green Co Platinum Certified, and Mumbai Plants are Green Co Gold Certified. GODREJ INTERIO is widely known for its comprehensive sustainability certifications for its products in furniture category.
GODREJ INTERIO commitment to the environment has resulted in manufacturing products with lesser environment footprint. Our pioneering efforts include designing less environment burdening products, usage of eco-friendly materials and setting up less polluting and consuming processes, ensuring eco-friendly packaging and transportation and finally the extended responsibility of recycling/reuse of used furniture and scrap, thus ensuring a lifecycle approach to green. GODREJ INTERIO has the widest range of green choices for our customers which not only includes products but also services such as green interiors and recycling.
The brand boasts of noteworthy awards received so far- CII Exim Bank Award for Business Excellence 2016, Superbrands 2017-18, Reader’s Digest Most Trusted Brand 2018 Gold (Home Furniture and Modular Kitchen), TRA’s India’s Most Consumer focused brand 2019, GreenCo Star Performer Award 2019, National Energy Leader Award at CII National Award for Excellence in Energy Management 2018.
For further information, please visit https://www.godrejinterio.com/
- Are Significant Advances in Technology Capable of Being Utilized to Benefit the Casino Industry? February 28, 2023
- Do You Think Tipping Auto Transport Driver is Necessary? February 10, 2023
- Enterprise-class OKR Platform Profit.co Raises $11 Mn Funding Led by Elevation Capital February 1, 2023
- Bengaluru Headquartered Mikro Grafeio Appoints U.S. Based Serial Entrepreneur Shyam Kumar as its Co-Founder February 1, 2023
- Federal Gov’t Will ‘Probably’ Force Americans To Eat Insects, Tucker Carlson Says February 1, 2023