Pune based Deepak Fertilizers and Petrochemicals Corporation has ventured into new concept store 'houslife' at its Ishanya Mall which will showcase multiple brands of furniture, furnishings and home accessories.
The company has invested over Rs 10 crore for this venture. The store will house over 32 domestic as well as international brands with over 2000 products.
The company is targeting business of Rs 20-22 crore in the next three years to break even the expenses.
Pune's organised retail market size is of Rs 350 crore and Houslife is targeting 8 per cent market share. India's total market size of home lifestyle is of Rs 75,000 crore and organised sector contributes only 8 per cent of the total market.
Commenting on this, Mahesh M, Chief Executive Officer of housl!fe said, “Housl!fe is a pioneering concept in the organized home retail landscape in India. We are not expecting typical mall footfall in Houslife. This segment of retail business is growing 15 on y-o-y basis while other sectors have shown some kind of negative growth in retail. "
Sailesh Mehta, chairman and managing director of DFPCL in a statement siad that there is a huge gap in this regard in the home décor and home furnishing segment, as organized retail is only emerging in this industry.
It was a strategic move to add houslife at Ishanya, in order to steer the category towards quality and reliability with unique designs.
Houslife consists of brands such as F&F, Magniflex, Quetzel, Nostalgia Pedro Ortiz, Durian and The Design Store among others.
All of these brands are unified by a common theme of being driven by choice and design.
Through the exciting new concept of houslife, DFPCL aims to enable brand retail and reinforce their commitment double fold, through Ishanya and Houslife, in enabling customers to experience the joy and delight of home-shopping.