Godrej Interio, furniture solutions brand is expecting a 20% growth in its turnover with a market consolidation from expansion of organised furniture market.
“Last year we grew at 15%, better than the industry rate, and clocked a turnover of INR 2000 Cr. In the current year we expect a turnover of INR 2500 Cr. plus,” said Anil Mathur, Chief Operating Officer of Interio Division.
Out of total furniture market worth INR 50,000 Cr., the organised market was just 20%. However, it has been growing at an improved rate than the unorganised sector, Mathur said.
The company is in transition from a product company to that providing experience through design and development. “We recently did the interior solutions work of the new terminal of the Cochin International Airport. We hope to get more such project business in future,” he said.
Since south India contributes 20% of its total revenue, the company has set up the largest interior stores in Kochi to strengthen its presence in the region. ” Kerala accounts for 5% of our business, of which 20% comes from Kochi,” Mathur said. The company plans to open five exclusive stores in Kerala.
(Source: Economic Times)