After successfully utilizing ecommerce to establish its business, The Furniture Republic is planning to launch about 100 stores by 2020. Aditya Gupta, Founder, The Furniture Republic, talks to Sweta Pal about the way ahead.
What is the brand's expansion strategy?
We are planning to launch 100 stores and targeting a turnover of Rs 500 crore by 2020. We also plan to adopt ‘hub and spoke’ model to expand in cities like Delhi-NCR. Currently we are selling our products online through various e-commerce portals like Jabong, Design Deal, Snapdeal and Pepperfry. And, our online model will be functional this year to deliver the entire range of products nationally.
What are the new offers that customers can look forward to?
We introduced two schemes this festive season to augment our sales: “Thank you” discounts to all our existing customers and “Earn Good Karma” exchange mela, where customers can exchange their old, unused furniture for in-store credit towards their purchases.
Who is your target audience?
Our customer profile is typically in the age group of 30-50 years, who have a discerning eye for well-designed and stylish products.
What percentage of sales is used for advertising and marketing?
As we are in the brand building phase, our media spend is quite extensive. We are currently spending about 5-10 per cent of sales on advertising and marketing.
You are also exploring franchise model to expand. What kind of franchisees are you looking for?
We are looking for driven individuals who are willing to give their time and enterprise to this venture. We are a highly customer-focussed organization and expect the same from our franchisees.