Furniture solutions brand Godrej Interio plans to open 300 stores and tap the rural market this fiscal.
Leading furniture solutions brand Godrej Interio (GI) has embarked on a rapid expansion plan to tap tier II and III cities and semi-urban townships.
As part of the plan, GI would open around 300 stores across the country this fiscal to increase footprint by 22%, Brijesh Verma, National Head of Operations and Business Development, said on Friday in Jamshedpur.
Inaugurating its third store, the flagship retail outlet "Steel Craft" in the Industrial township of Adityapur, 2 km from Jamshedpur, in adjoining Seraikela-Kharswan district, Verma said 30% of the proposed stores has already been opened.
"The launching of the store in Adityapur was the 100th such outlet in Bihar and Jharkhand region," he said claiming GI has been focusing in eastern region as it contributed 32% of the brand's overall business revenue, the largest in the country.
"The company plans to increase business revenue in the region to 40% in the current fiscal," Verma said.
"We are planning to tap the rural market, which is emerging with increasing purchasing power of the rural masses, by introducing new products before the festival season," he added, while referring to new almirah and sofa products such as Millennium Pro, Slim Line and Modules Sofa.
Keeping in view its expansion plan, Verma said the company was also upgrading existing plants, including in Vikroli, Mumbai, where the company has installed robots to produce best quality products.
"Besides, GI has also set up a plant in Haridwar and Shirwal near Pune," he said, adding the company has invested around Rs 12 crore in the Haridwar plant, where the company produces 500 mattresses daily.
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