The company also plans to surpass 1,000 Interio furniture stores by August 2024, adding over 1,20,000 sq. ft. of retail space
Bengaluru: Godrej Interio, the home and office furniture division of Godrej & Boyce, aims to expand its retail footprint by adding 104 new stores, covering more than 200,000 sq. ft. of retail space by the end of fiscal year (FY) 2025, according to a company press release on Wednesday.
The company also plans to surpass 1,000 Interio furniture stores by August 2024 adding over 1,20,000 sq. ft. of retail space and will open 10 new kitchen specialty outlets across Andhra Pradesh and Telangana by the end of the year.
“By significantly increasing our physical touchpoints, we are not just growing our footprint but transforming the viewpoint of how Indians interact with their furniture,” said Dev Narayan Sarkar, senior vice president at Godrej Interio.
“Our nationwide growth plan targets 34, 24, 19, and 27 of new stores for the Northern, Western, Southern, and Eastern regions respectively,” he added.
Godrej Interio, a subsidiary of Godrej Enterprises Group, is currently established in more than 450 cities, with 450 exclusive showrooms and 520 dealer outlets. The company has seven manufacturing facilities situated at Mumbai, Khalapur, Haridwar, Shirwal, and Bhagwanpur.
The company’s e-commerce platform caters to over 17,000 pin codes. Last year, the brand launched over 400 new products and expects a 20% growth this year.
The Indian furniture market, valued at approximately $23.12 billion in 2022, is predicted to grow at a CAGR of 10.9% to reach $32.7 billion by 2026, according to RedSeer Strategy Consultants. The growth of the industry is being fueled by both Indian and international home furnishing companies like Ikea, WoodenStreet, Pepperfry, Urban Ladder, and RoyalOak, among others.
