Centuryply enters furniture retail
Opens store in Bengaluru; aims turnover of Rs 500 crore in five years.August 20, 2012 | comments ( 3 ) |
Centuryply, the plywood and veneer manufacturer has taken a step ahead and entered the business of readymade home furniture under the retail brand name Nesta Furniture.
With the launch, the brand has also opened its first store in Bengaluru. The 6000 sq ft store, launched by Sajjan Bhajanka – Chairman, Century Plyboards (I) Limited, along with actress Karisma Kapoor, offers plush interiors and soothing ambience.
Sajjan Bhajanka – Chairman, Century Plyboards (I) Limited, said, “Retail business in India is at an interesting stage. Our latest venture in the readymade furniture retail business is a move up the value chain and a natural progression in the wood products category. We are keen to leverage the company’s experience and strengths in retailing the finished end product. Centuryply will have flagship stores in key markets and also adopt franchise model to tap other markets.”
The store will provide the ability to visualise the furniture in a room. Customers can choose colours, different options for each room to get the perfect look, furnish the room dimensions and visualise how the furniture will look in the home on a giant LED wall in an exclusive zone ensconced to give the customer, privacy. The store will also have a mock up of an apartment with approximately the same dimensions as a typical 1BHK flat to help customers visualise.
Talking about expansion plans, Nesta envisages creation of 3.5 million sq ft of retail space with 111 outlets in the next five years with a projected turnover of Rs 500 crore with an initial investment of Rs 100 crore. It also plans to set up a state-of-the-art manufacturing capability in furniture at Andhra Pradesh in the near future.
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