Bonito Designs, a premium interior design company headquartered in Bengaluru, has signed iconic interior designer Gauri Khan and India’s leading couturier Manish Malhotra to curate bespoke homes for its customers.
Bonito has emerged as the fastest growing and most profitable home interior design brand in the organized segment. The company registered 20 percent m-o-m growth on the back of a well-thought-out expansion strategy. The brand has witnessed 3X growth over the past year supplemented by its experience hubs across Bengaluru and Mumbai.
Bonito Designs pre-launched its services in Mumbai recently and within a month it became the second largest organized player in the city. The brand has received phenomenal consumer appreciation for its nuanced and differentiated offering and the disruption that it brings to the interior design space. The company has more than doubled its ARR and is on the path to crossing $100 million ARR with an EBITDA of 14 percent by the end of FY 2022-23.
Having established its presence in key locations, the brand looks to enter Pune by FY22/23 and expand to Hyderabad, NCR, and Chennai in the next 18 months. The expansion is poised to be the fastest and most profitable one in the organized interior design space in the country.
Gauri Khan said, “I have always been passionate about designing spaces, and it’s great to partner with a brand like Bonito that matches my enthusiasm for creating beautiful spaces for people to live, work, and enjoy. Together we aim to give the consumer a highly customized experience that is also aesthetic, functional, and affordable. I look forward to bringing my expertise in interiors to people along with bonito and creating a one-of-a-kind experience”.
Bollywood’s most loved designer Manish Malhotra said, “It’s thrilling and exciting to extend my horizon in association with my dear friend Gauri Khan to bring fashion into home interiors, a favorite category of mine. Bonito Designs makes it possible for me to bring exclusivity and uniqueness to the homes of many. Luxury is in good company.”
Amit Parsuramka, CEO, Bonito Designs, said, “Bonito is on a mission to be India’s largest and most coveted home interior design brand by 2025. We have demonstrated fast growth and remained profitable. In order to build an Interior design brand that goes beyond designs and aesthetics offering pride, design expertise, and excellence, we are delighted to collaborate with Gauri Khan and Manish Malhotra to help our customers experience celebrity living.”
“We are also building a strong data and tech-led platform that will enable us to predict the unique requirements of our customers and provide solutions that are exclusive to the needs of each family. This will further strengthen our value proposition and brand promise that no two Bonito homes will ever be the same,” he added.
The home design and interior market in India was estimated to be $23.2 billion in 2020 and is projected to clock $38.2 billion by 2027 registering a CAGR of 7.4 percent. Bonito Designs aims to be at the forefront of this fast-growing market.