Tell us about D'Decor's retail journey? What’s the year-on-year growth?
We started our business in India in 1998. We are mostly into exports — 65% of our business is exports and the rest is in the domestic market. We started our retail operations with our first flagship store in Bandra in 2014.
D’Decor has evolved as a leading home lifestyle brand in India. The brand is growing at a CAGR of over 20 percent currently.
How has franchising fueled this growth?
We launched the franchising concept about a year ago and the response has been very good. We have already opened 7 franchise stores and few more are in the pipeline. They are definitely helping us fuel our growth and also aid in delivering the D’Decor signature experience to the consumer.
What kind of support do you offer to your franchise partners?
We offer some support in the form of fixed assets like A/C, architect fees etc. all the items in the store including displays, catalogues etc which are not meant for sale are provided by the company. We also offer some recurring support in the form of loyalty bonus, ad spends etc.
How do you strengthen the relationship with the franchise partners?
We treat our franchise stores as our own stores and all the facilities provided to our company store are given to the franchise stores as well. In short, we don’t differentiate between own and franchise stores which creates trust and strengthens our relationship.
What are your expansion plans? Which cities are you targeting?
We plan to open 50 stores in 3 years. We are targeting the metros and tier-1 cities in the first phase.