SLL, which designs, makes and retails of hi-end lifestyle furniture, currently operates nine boutiques in key Indian cities.
MUMBAI: Bangalore-based Stanley Lifestyles Ltd (SLL) is beefing up its retail presence in the country.
SLL, which designs, makes and retails of hi-end lifestyle furniture, currently operates nine boutiques in key Indian cities. It plans to add another five lifestyle furniture boutiques to its existing portfolio by 2007-end.
Stanley Lifestyles’ CEO Sunil Suresh told DNA Money that for 2006-07, the company reported a turnover of Rs 65 crore and is looking at more than doubling it in the current financial year.
“We are targeting a turnover of Rs 150 crore for 2007-08. In addition, a capital expenditure of Rs 40 crore has been earmarked for retail expansion among others and will be funded through internal accruals,” said Suresh.
Specialising in custom-styled lifestyle furniture, Stanley’s business is divided into three main segments: genuine leather upholstery, automotive and furniture.
Its clientele includes the likes of Toyota, Honda, Mahindra & Mahindra, General Electric, Dell, Wipro, Windsor Sheraton, Leela Palace, Jindal Group and the Indian Air Force. Among the product range offered by SLL are sofas, chairs, premium recliners, accessories for home and office besides genuine leather cladding tiles.
The company currently has one boutique each in cities including Mumbai, Kolkata, Chennai and Hyderabad. In Bangalore, it operates with two such outlets. The average size of these boutiques varies from location to location and occupies a carpet area in the range of 3,500-14,000 sq ft.
In Mumbai, the company operates a boutique at Worli and will be launching another one this Saturday at Andheri. “Spread across 20,000 sq ft, this boutique in Mumbai will be our largest so far,” said Suresh.
The new cities being identified by SLL for launching boutiques include Faridabad, Gurgaon, Pune, Coimbatore and Kochi. And with these 15 boutiques, according to Suresh, SLL would have possibly covered each and every potential market for their entire range of lifestyle furniture in the country.
As one of India’s largest importers and stockists of finished leather upholstery, SLL has played a significant role in bringing in the world’s renowned lifestyle furniture brands like La-Z-Boy, Stressless, Calligaris, Mario Cioni, Maronese, Mercury, Aqua, Ango and Tonin Casa.
Besides retailing these products through its Stanley Boutiques, the company has a focussed on a multi-channel distribution system exceeding 200 retail showrooms and a network of over 100 dealers across the country.
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