Tie-ups are in the making for home solutions products that are not currently manufactured by G&B
Godrej & Boyce (G&B) is set to target the mass premium consumer segment in India with a complete range of home solution products.
The company, which launched a new brand called Script for premium furniture, will be forging manufacturing tie-ups with specialist players to address this market in the country.
Jamshyd Godrej, managing director and chairman, Godrej & Boyce, said brand Script will strengthen its commitment to providing great customer experience. “It’s a first brand from the house of Godrej & Boyce, which establishes Godrej in the attainable premium furniture category,” he said adding that the brand is backed by a strong supply chain infrastructure through existing presence in the furniture segment.
G&B, which has a mass market furniture brand Godrej Interio, is now targeting the over Rs 10,000 crore attainable (mass) premium furniture segment with Script.
The company is hoping to achieve revenues of Rs 320 crore from this business by fiscal 2021. Over the next five years, it is planning to launch 18 stores across five cities starting with Bengaluru followed by New Delhi and Mumbai in this fiscal.
Anil S Mathur, chief operating officer - Godrej Interio, said, “There will be somethings that we will have to design and get it manufactured by someone who can do it much better than us. For instance, companies who are good at say fabrics and can manufacture at a much more economical manner while we give them our designs and quality inputs for the same.”
SPRUCING HOME
- Tie-ups are in the making for home solutions products that are not currently manufactured by G&B
- It will set up company-operated exclusive brand retail stores for Script
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