Launched in 2008, the brand offers home décor solutions ranging from vases to furniture and from bedsheets to upholstery fabric. Looking at the prospects in the Indian market, the brand is now aggressively growing its retail presence across the country. Rajat Singhi, Founder and Creative Director, Address Home, shares his retail plans with Gunjan Piplani.
Gunjan Piplani (GP): Now that Address Home is opening up new stores, what are plans from here on?
Rajat Singhi (RS): Address Home currently has two stores each in Delhi and Mumbai and one store each in Hyderabad, Bangalore and Chennai. As per our expansion plans, we will be expanding our presence by launching more stores, across India. We are also tapping the huge potential of tier-II cities, as there is a lot of customer demand for our products from these cities. Over and above this, we are extending our footprint to overseas markets and will open stores in Dubai and Kuwait.
GP: What is Address Home all about?
RS: Address Home is a brand that offers everything to furnish and decorate one’s home; a complete lifestyle experience is what we call it! Address Home offers bespoke bed linen and cushions, paired with trendy accessories such as vases and lamps, lights and glassware, serving and dining pieces, flowers and candles to complete one’s home. We frequently introduce new collections at our stores and will continue to increase our product offerings.
GP: How many stores do you plan to open in next one year? Which regions and audience do you plan to target?
RS: The brand is looking at opening 12 exclusive stores, in cities across India, which include Pune, Ludhiana, Chandigarh, Delhi/ NCR, Chennai and Bangalore.
GP: All this would be exclusive? Will the exclusive stores be company owned or franchised?
RS: For now, all the exclusive stores will be company owned.
GP: Is Address Home present in multi brand stores? If yes then how many stores and do you plan to expand here as well?
RS: Currently, Address Home is not present in multi brand stores. That is a choice driven from our philosophy of offering an exclusive brand experience to our customers. In the future, if we feel that this experience can be emulated in multi-brand stores without diluting our brand image, we could explore that route.
GP: Tell us about the store formats of Home Address?
RS: With a carpet area of 1500-3000 sqft, each Address Home store caters to the individual needs of the target audience it intends to address. The brand has three formats, each one unique in terms of store size, merchandise selection, etc. However, a common design philosophy runs through each format.
GP: How much investment does the company plan to do for its expansion plans?
RS: 2012 is an exciting year for the company, as the brand is poised for aggressive growth. Over the next three years, the company plans to invest about Rs 20 – 30 crore towards growth and expansion of the brand.
GP: Do you plan to expand your facility as well?
RS: As we are heading towards expansion and new retail outlets, we shall also look at expanding our manufacturing facility to cater to the growth.
GP: Are you completely into retail or also export?
RS: Address Home is predominantly a retail brand in the domestic market. However, the company is an established name in the home furnishings industry worldwide. The company manufactures stylised home linens for high end retailers such as Crate and Barrel, Bloomingdale’s, Neiman Marcus and Harrods of London, to name a few.
GP: What are your expectations from the new expansion plan?
RS: It is our endeavour to provide the Indian consumer the finest in home fashion, which includes trendy accessories, accent furniture and linen to compliment contemporary lifestyles. The expansion will allow us to reach out to a wider audience across the country and strengthen our brand presence.