Godrej Interio eyes customised branded furniture mkt with U&US launch

Firm plans to grow business to Rs 1,000 cr in 3 years, will have 20 studios within a year

Godrej Interio, the furniture brand from Godrej & Boyce, is expanding its customised branded furniture business and has announced the launch of U&US Home Design Studio. The company plans to grow the newly introduced segment to Rs 1,000 crore in the next three years.

Navroze Godrej, Director, Godrej & Boyce said: "This is one of the largest disruptive business processes, where we are partnering with local carpenters and designer communities to organize a large segment of the unorganized market."

The company opened its third studio in Pune, after two pilots in Thane and Khargar in Mumbai. Godrej plans to open 20 such studios across the country in the next one year. The price of furniture at U&US would be 20 per cent more than made-to-order furniture.

"Branded home furniture is growing at 20 per cent but is only 10 per cent of the Rs 4,500 crore market. Yet it is growing faster than the overall furniture market (at 12 per cent). For increasingly mobile consumers of branded furniture, there will be concerns about after-sales service and adding different elements on a piecemeal basis. U&US will provide a platform for customers to take their vision and put it into reality without the challenge of having to deal with a battery of vendors," said Anil Mathur, COO, Godrej Interio.

He added, "This is one of the largest disruptive business processes where we are partnering with local carpenters and designer communities to organize a large segment of the unorganized market."

Godrej is setting up a third facility at Shirwal near Pune to make ready to use furniture with an investment of Rs 300 crore. This will mainly cater to hospital furniture. According to Mathur, the expansion will help increase the company turnover form Rs 900 crore to Rs 3000 crore in the next three years from this business.