Leading furniture solutions brand Godrej Interio (GI) has embarked on a rapid expansion and plans to open around 300 stores across the country in this fiscal year which will help the brand to increase the footprint by nearly 22%. With this strategy Godrej Interio is planning to cover major cities as well as uptown cities too. The company also plans to invest Rs 500 Crore in the next five years in manufacturing.
Speaking exclusively with Indianretailer.com, Anil Mathur, COO, Godrej Interio informed,” Going ahead, Godrej Interio also would be targeting newer and raw markets with great potential for furniture. Injecting ‘technology’ in our product offerings with a user centric approach shall remain the backbone of Godrej Interio.”
New product development is the cornerstone of Godrej Interio’s growth plan. Godrej Interio will reinforce the brand's promise of 'Transform Your Life' and build brand engagement with the audience. It will continue to transform lives by making the personalised home furnishing segment to create customer-specific products. The key here would be to create designs that cannot be easily replicated. Godre Interio would be using the existing communication base to create and inspire the potential buyers.
The company also plans to launch its own e commerce platform in 2017. Speaking on e-commerce expansion Mathur said, “E-commerce is an opportunity, we do look at this platform as a channel to drive the online consumers to our onground stores.”
However, he feels that the furniture industry is such where it’s important to have an on ground presence for providing an ideal pre and post purchase experience.
Presently, the brand has a strong digital presence through multi brand online retailers like Mebelkart, Pepperfry, and Flipkart. Godrej Interio has always innovatively used their omni-channel strategy to break through the clutter along with its different approaches towards advertising and marketing. Also, Godrej Interio shall continue to have strong technology integration in consonance with user needs.
Speaking on same, Mathur said, “Digital will play a very large role by talking to a segment (read youth) that marketers would otherwise never be able to connect. They are interlinked. Bringing digital to real and linking both of them will continue to be extremely essential for us moving ahead. A good integration of both, online and offline shall continue to be our marketing strategy. “
Godrej Interio have strong technology integration right from product design to development, to automation (including robotics) in manufacturing, to CRM (customer relationship management) platforms that collate user and buyer data to help develop predictive models and help in DSS(Decision Support Systems). Also, we are in the process of implementing OMNI-Channel experience for the customer and users.
Godrej Interio is one of the leading premium furniture brands in the country. When wood and teak was in vogue, Godrej introduced Storwel, the first dual-purpose steel cupboard for home and office. The Godrej steel cupboard became a staple in Indian Homes and was looked upon as a symbol status and safety. Over the years, Godrej Interio’s product range has expanded drastically from just storewell cupboards to over 1,600 SKUs.
The brand has about 490 EBOs and 2000 MBOs spread across 640 cities. The compound annual growth rate (CAGR) has been 26 %. The company has registered the revenue of 1800 cr in FY15-16.