Pune, April 10th 2024: Godrej & Boyce, the flagship company of the Godrej Group, announces its business Godrej Interio, India’s leading furniture and interior solutions brand is set to offer a more enhanced experience for its customers in Pune by delivering value and aesthetics for the modern Indian home. Godrej Interio currently commands a market share of 15% and has strategic plans to inaugurate 60 new stores in the western market during the fiscal year 2024-25.
As the consumer demand has increased in Pune, Godrej Interio is determined to strengthen its omnichannel presence, in a bid to ensure a more accessible and seamless buying experience for its customers. The brand has over 15 showrooms, 70 channel partners and 110 retail stores across Maharashtra and they aim to expand their presence to 25 showrooms, 100 channel partners and an extensive network of over 200 retail stores across the state.
Speaking on the importance of this market, Dev Sarkar, Senior Vice President (B2C), Godrej Interio, said, “Godrej Interio boasts strong brand recall and a significant customer base nationwide. With Pune’s home furniture market experiencing steady annual growth of over 18%, there’s a noticeable surge in demand for various furniture categories, including home storage, bedroom sets, living room furniture, modular wardrobes, and kitchens for standalone residences. We’re strategically positioned to capitalize on these trends and enhance our market presence. Our goal is to achieve a 20% compound annual growth rate (CAGR) over the next three years, targeting revenue of approximately INR 400 crores from Western India by FY27. Moreover, Pune’s thriving real estate sector, driven by robust demand for homeownership and a supportive business environment, presents additional opportunities. The increasing preference for large-sized, mid-sized, and affordable homes underscores the dynamic nature of Pune’s real estate market, further benefiting organized furniture players like us.
Located in the state of the art facility, our Shirwal manufacturing unit near Pune, we are contributing to employment opportunity for the nation’s youth.
Due to the strong brand recognition, we are certain that the brand will further expand the customer base bringing more patrons into the rapidly expanding Godrej Interio family.”
The recent ‘HomeScapes’ study by Godrej Interio reveals the unique expression of consumers’ personalities and values in their home and home décor choices. According to the study, more than half of Indian consumers (58%) express a profound emotional attachment to their first independently purchased piece of furniture. Additionally, a significant 74% of respondents believe that the furniture, furnishings, and decor chosen for their homes not only reflect personal growth but also symbolize professional and financial progress. The survey, conducted with 2822 Indians across the nation, provides valuable insights into the emotional and aspirational connections people have with their living spaces.
