One of India’s largest D2C home and sleep solution
providers, Wakefit.co, has announced aggressive offline retail expansion
ambitions across the country. In Bengaluru, New Delhi, and Lucknow, the D2C
brand just opened its first three outlets. Wakefit.co also plans to build a few
more locations in significant cities including Pune, Chennai, and Hyderabad.
The stores are planned as mega retail stores with an average
size of 3,000 square feet and will be strategically located in areas with a
high density of furniture retailers to drive organic footfalls. The expansion
comes at a time when Wakefit.co has completed 6 years in the industry while
having recorded a revenue of ₹416 crore in FY21.
The newly launched retail stores will operate in an
omni-channel model where customers can purchase from the stores while also
having the option to place online orders at the store. Designed in a lived-in
concept with a minimalist and chic design, the offline stores will display an
overall of 500 SKU from Wakefit.co’s wide furniture and home solutions range
that are part of the company’s product portfolio, the company said in a media
statement.
“With the launch of our first few offline retail stores, we
aim to further our vision of being the most loved home solutions company in
India. We are currently growing at a rate of 2.5 to 3x every year and have been
consistently introducing newer products into our portfolio.
Currently, Wakefit.co’s furniture segment contributes to
nearly 23 per cent of our monthly revenues, and the offline retail expansion
comes at a time when we are growing aggressively. As a D2C brand, we are
constantly connected with our customers and have thoroughly understood the fact
that the touch and feel aspect is an integral factor to make a purchase
decision when it comes to furniture. Materialising on this feedback from our
customers, came the decision to launch our very own retail stores across the
country. While we are expecting our existing and upcoming offline stores to
contribute close to 20 per cent of our annual revenues in the upcoming
financial year, we also aim to ramp up our offline expansion drive
exponentially by FY 23,” Vishal Khandelwal, head of retail, Wakefit.co, said in
a statement.
Wakefit.co has currently
served over eight lakh customers across 19,000 pin codes in the country and
garnered over three positive reviews online. Headquartered in Bengaluru, the
Silicon Valley of India, Wakefit.co also plans to launch two more stores in the
city after having launched one store recently. Wakefit.co currently has over
600 different product SKUs in its home and sleep portfolio which are available
across our online and offline platforms. Courtesy: www.fibre2fashion.com
