Modular furniture provider Spacewood Furnishers recently announced its strategic growth plan to achieve ₹1,500 crore in revenue by 2029. Following a strong recovery post-fire and a turnover of ₹525 crore for the fiscal year 2023-24, Spacewood has maintained an impressive year-on-year growth rate of 18-20% according to a press release.
The company plans to strengthen its presence in metro, Tier 2, and Tier 3 cities, while transitioning towards a business-to-consumer (B2C) model and expanding its dealer network and Exclusive Brand Outlets (EBOs). Founded in 1996, Spacewood has evolved into one of India’s most recognized furniture manufacturers, known for its premium modular furniture, home furniture, pre-hung doors, desking, and institutional solutions.
Spacewood is gearing up for its next phase of growth, focusing on providing accessible, high-quality modular furniture solutions across India. This aligns with the ongoing market trend in the country. The India furniture market is estimated to be worth USD 23.92 billion in 2024 and is expected to reach USD 34.55 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.63% during this period.
“Our vision for Spacewood’s future is rooted in our commitment to deliver world-class, consumer-first solutions,” said Kirit Joshi, Co-Founder, Spacewood Furnishers. “With an ambitious growth target of ₹1,500 crore by 2029, we are focused on expanding our reach to underserved markets, providing high-quality modular furniture that blends innovation, style, and functionality.”
Spacewood plans to accelerate its presence in Tier 2 and Tier 3 cities, enhancing its dealer network from 650 to 1,000 in the next 3-4 years, and expanding its EBOs from 34 to 75 within the same period. The company aims to position itself as a market leader and redefine how furniture solutions are experienced across India.
With a growth target of ₹1,000 crore in the next three years and ₹1,500 crore by 2029, Spacewood is poised to lead the modular furniture industry in India. The company remains committed to its vision of providing high-quality, ‘Made in India’ furniture that blends aesthetics, durability, and functionality.
Spacewood Furnishers, a leading modular furniture solutions provider, has announced its strategic growth plan to achieve ₹1,500 crore in revenue by 2029. Following a strong recovery post-fire and a turnover of ₹525 crore for the fiscal year 2023-24, Spacewood has maintained an impressive year-on-year growth rate of 18-20%.
The company plans to strengthen its presence in metro, Tier 2, and Tier 3 cities, while transitioning towards a business-to-consumer (B2C) model and expanding its dealer network and Exclusive Brand Outlets (EBOs). Founded in 1996, Spacewood has evolved into one of India’s most recognized furniture manufacturers, known for its premium modular furniture, home furniture, pre-hung doors, desking, and institutional solutions.
Spacewood is gearing up for its next phase of growth, focusing on providing accessible, high-quality modular furniture solutions across India. This aligns with the ongoing market trend in the country. The India furniture market is estimated to be worth USD 23.92 billion in 2024 and is expected to reach USD 34.55 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.63% during this period.
“Our vision for Spacewood’s future is rooted in our commitment to deliver world-class, consumer-first solutions,” said Mr. Kirit Joshi, Co-Founder of Spacewood Furnishers. “With an ambitious growth target of ₹1,500 crore by 2029, we are focused on expanding our reach to underserved markets, providing high-quality modular furniture that blends innovation, style, and functionality.”
Spacewood plans to accelerate its presence in Tier 2 and Tier 3 cities, enhancing its dealer network from 650 to 1,000 in the next 3-4 years, and expanding its EBOs from 34 to 75 within the same period. The company aims to position itself as a market leader and redefine how furniture solutions are experienced across India.
With a growth target of ₹1,000 crore in the next three years and ₹1,500 crore by 2029, Spacewood is poised to lead the modular furniture industry in India. The company remains committed to its vision of providing high-quality, ‘Made in India’ furniture that blends aesthetics, durability, and functionality.
