Godrej Interio, a furniture solutions brand of Godrej & Boyce, is planning to strengthen its retail presence in Delhi and NCR region. This move is based on consumer profiling and the existing infrastructure in the region, the company said in a media release on Tuesday.
During the year, the brand plans to add 10 stores in the Delhi-NCR region. Currently, it has 15 exclusive stores in this region.
Swapneel Nagarkar, Business Head, Godrej Interio shared, “The brand’s overall annual revenue from the region is Rs 300 crore with a contribution of 35 per cent and 65 per cent from home furniture and office furniture segments respectively.”
As per a statement in the release, both Delhi and NCR are expected to register a growth of 30 per cent in the home furniture segment in the current fiscal FY24. In the office furniture segment, Delhi contributes 55 per cent to the brand’s overall annual business revenue of the overall Delhi-NCR region revenue. Godrej Interio’s office furniture segment is expected to grow at 15 per cent in 23-24 ahead of the industry growth of 8-10 per cent.
Also, the brand shared that it has a market share of 15 per cent in Delhi.
Nagarkar shared, “In today’s world, consumers are highly knowledgeable and globally exposed, seeking a more refined lifestyle. As living space ecosystems and work cultures evolve, there is a growing demand for homes and office spaces that cater to these changing needs.”
He added, “At Godrej Interio, our objective is to bridge these gaps by creating an interior ecosystem and providing an unparalleled experience. We achieve this by introducing inventive concepts for homes and office spaces, utilizing state-of-the-art patented technologies.”
Courtesy: https://retail.economictimes.indiatimes.com/news/home-and-decor/furniture-and-decor/godrej-interio-to-strengthen-its-presence-in-delhi-ncr-region/101315261