Godrej Interio, a business unit of Godrej & Boyce Mfg. Co. Ltd., has national presence through its 50 exclusive showrooms across 18 cities and with 800 dealer outlets. The company offers home and office furniture solutions and also solutions for laboratories, hospitals and healthcare establishments, education and training institutes, shipyards, navy, auditoriums and stadiums.
Replying to Yash Ved of Newsbarons, Anil Mathur, COO, Godrej Interio informed “We are eyeing 18% growth for FY18.”
NB: What is the size of the Indian furniture market?
Anil: The size of the total furniture market in India is about INR 50,000 crore. Out of this, only 20% is organised and the remaining 80% is an unorganized market.
NB: Brief us about the launch of Script brand?
Anil: Script is a brand that further strengthens our commitment to our consumers. We have invested over INR 150 crore into the new venture with the first store being launched in Bengaluru. We are planning to launch another 18 stores across 5 cities soon. We will launch the next store in Delhi and that will be followed by Mumbai, Chandigarh and Kolkata.
Script will be tapping into a market size that is estimated to be 10,000 plus crore.
NB: What are your expansion plans?
Anil: We currently have 50 stores and planning to open 8-10 stores for Godrej Interio. Our focus is mainly on designing and developing the product.
NB: How many India circus stores are you planning to open?
Anil: Last year, Godrej & Boyce acquired 51% stake in designer Krsnaa Mehta’s company – India Circus. We currently have 2 stores and planning to open 9 more stores of India circus.
NB: How is the furniture market globally?
Anil: Globally, the furniture market is fragmented market. Many changes have taken place in furniture market globally in terms of mega trends. The major challenge is how the consumer will suit in terms of design and utilisation.
NB: What is the growth and turnover target for FY18?
Anil: We are eyeing 18% growth for FY18. Last year, we clocked a turnover of INR 2000 crore. In the current year, we expect a turnover of INR 2500 crore.
NB: What are your investment plans?
Anil: We are planning to invest INR 400 crore to enhance production capacity.