Sunil Suresh, MD & Founder, Stanley Lifestyles shares the brand’s plans, its strategy to overcome challenges
Stanley Lifestyles, a pan-India brand known for its luxury custom leather upholstery, recently inaugurated a sophisticated furniture store in Gurugram. Spanning 22,000 sq.
ft., the store offers a luxurious experience for homeowners, architects, and interior designers seeking opulent home furnishings.
It is the 62nd outlet of the brand, founded in 2007 by Sunil Suresh.
Brand Overview
Stanley Lifestyles operates through three formats: Stanley Level Next—SLN (complete home solutions), Stanley Boutique (premium furniture store), and Sofas & More (sub-premium furniture stores). The super-premium and luxury furniture company held a 5.61% market share in terms of revenue for fiscal year 2022.
In an exclusive interaction with IndiaRetailing, Sunil Suresh, Managing Director of Stanley Lifestyles sheds light on the brand’s growth, industry challenges, and plans. Edited excerpts…
Where do you position your brand in the market?
SLN positions itself as a unique, fully integrated furniture manufacturer and retailer. The USP of the brand lies in providing complete home solutions with bespoke, high-quality products, setting a high standard in both manufacturing and retailing.
How do you stay informed about the latest trends in the industry?
SLN’s commitment to international design and quality reflects a global perspective in staying informed about industry trends, although specific methods of trend analysis are not detailed.
What trends do you see shaping the future of the brand both in India and globally?
While future trends are not explicitly outlined, SLN’s focus on quality, craftsmanship, and international design indicates a forward-looking approach, adaptable to evolving trends in the home décor industry.
What is your brand’s competitive advantage?
Stanley, currently, is the only fully-integrated furniture manufacturer and retailer. Every piece of furniture is designed and manufactured to the highest international standards in our world-class facility, employing over 1000 experienced craftsmen. We currently are offering complete home solutions, starting from bespoke kitchens, wardrobes, living, dining, and bedrooms.
How do you differentiate your brand?
SLN differentiates itself by its in-house manufacturing, emphasising high-quality, bespoke products. Unlike others sourcing from uncertified manufacturers, SLN’s direct control ensures unparalleled product standards.
How do you ensure that your brand maintains a consistent and desirable image in the eyes of consumers?
SLN maintains a consistent and desirable brand image through meticulous quality control and its philosophy of being ‘Makers of Beautiful.’ Each product’s uniqueness and charm underline SLN’s commitment to beauty and quality.
How has the brand evolved?
SLN enhances its brand by offering design assistance and a wide range of customisable furniture options. This adaptability and focus on customer preferences ensure the brand’s relevance and appeal.
Could you share insights into your marketing strategies for promoting the brand in the market?
We are set to intensively market our brand on social media and other digital platforms. However, we will maintain our focus on the store-based sales model, catering to the premium-luxury segment with higher-priced products. We believe that selling offline aligns better with our customer’s preferences, as they often prefer to experience our products in person before making a purchase.
How do you leverage digital platforms?
We plan to aggressively market our brand on social media and other digital platforms. However, we do not plan to sell online and would like to stick to the store model.
What are the major challenges currently faced by the industry?
In the context of the Indian ecosystem, a significant challenge is the lack of robust industrial zones for a self-sufficient supply chain. This leads to a heavy reliance on importing raw materials, with about 85% sourced internationally. Key imports include Italian and German leathers, timbers from Germany, Romania, Canada, and occasionally New Zealand, and Japanese foams.
Despite this, there’s optimism for a shift towards a more self-sustaining ecosystem in the next 5-10 years, reducing reliance on imports. The duration of the entire import cycle for raw materials varies depending on the source. For instance, shipments from Canada typically take around 60 days to reach Bengaluru once they set sail, while those from Europe take approximately 30 days. With the advantage of scale and a workforce of 1500 people, there is a strategic approach to forecasting material requirements and managing warehouse stocks efficiently.
Are you focusing on specific market segments or regions for expansion?
We have already expanded to several cities and are now planning to open 25 more stores in various formats across tier 1 and tier 2 cities in the country, which are larger and have significant purchasing power. Our expansion strategy includes all major metros, building on our strong presence in the South. We’re focusing on Mumbai and Delhi, where, in addition to our existing three stores, we plan to open three more in the next year.
We also plan to go overseas in the next 2-3 years.
How do you plan to adapt to evolving market dynamics?
We ensure that each item passes through rigorous quality control before it bears the Stanley name and leaves our factories. This commitment sets us apart from other furniture stores that may source lower-quality products from uncertified manufacturers.
As a fully integrated brand, we manufacture all products in-house, adhering to the highest industry standards. Our company-owned showrooms showcase these high-end, bespoke items, offering a level of quality assurance that few global brands can match.
This approach positions us well to adapt to changing market dynamics and consumer preferences in the coming years, ensuring we continue to meet and exceed customer expectations.
