Page 2 - Furniture

Godrej Interio to open 104 new stores, add over 200k sq ft of retail space

Home and office furniture brand Godrej Interio on Monday said it plans to open 104 new stores and add over 2 lakh sq ft of retail space in the ongoing fiscal as part of its pan-India expansion. A part of Godrej & Boyce of Godrej Enterprises Group, Godrej Interio currently has 900 stores in more than 600 cities across India. Godrej Interio projects a 20 per cent growth this year and plans to add over 2 lakh sq ft of retail space in FY25. The company is poised to surpass 1,000 stores in August, it said in a statement. The brand will also add 104 new stores in fiscal year 2025, it added. "Our nationwide growth plan targets 34, 24, 19 and 27 new stores for the northern, western, southern, and eastern regions, respectively," Godrej Interio Senior Vice President and Head of Consumer Business (B2C) Dev Narayan Sarkar said. Along with the physical expansion, the brand continues to enhance its digital presence and the company's e-commerce platform serves more than 17,000 pin codes, the ...

Amazon Mega Furniture Sale 2024: Know about best furniture deals on offer

Amazon is offering heavy discounts on furniture products. The Amazon Mega Furniture Sale 2024 is live from August 20 to 25, 2024

Ikea pilots same-day delivery in Hyderabad, hits 100% EV delivery goal

As part of its sustainability strategy, Swedish furniture giant Ikea has committed to entering all new markets, including the Delhi-NCR region, with an EV-first approach

Luxury furniture brand Stanley Lifestyles IPO subscribed over 96 times

The initial public offer of luxury furniture brand Stanley Lifestyles got subscribed a whopping 96.25 times on the last day of subscription on Tuesday. The Rs 537 crore initial share-sale received bids for 98,56,97,520 shares against 1,02,41,507 shares on offer, according to NSE data. The portion for Qualified Institutional Buyers (QIBs) fetched 222.10 times subscription while the quota for non-institutional investors got subscribed 118.65 times. The quota for Retail Individual Investors (RIIs) attracted 18.13 times subscription. The Initial Public Offer (IPO) has a fresh issue of up to Rs 200 crore and an offer for sale of up to 91,33,454 equity shares. The initial share-sale has a price range of Rs 351-369 per share. The IPO of Stanley Lifestyles got subscribed 1.43 times on the first day of subscription on Friday. Stanley Lifestyles on Thursday said it raised a little over Rs 161 crore from anchor investors. The net proceeds from the fresh issue to the tune of Rs 90.13 crore

'EU laws on sustainable products to hurt exports from developing nations'

Since most products covered are consumer products, the price rise may lead to inflation in the EU, the report said

Mattress and furniture maker Wakefit unveils AI-powered sleep solutions

Users will receive reports on sleep stages, respiratory rate, snoring, movement, and overall sleep quality and get an aggregated sleep score

MillerKnoll plans to set up more showrooms in key Indian cities: Report

US-based furniture major MillerKnoll has set up its first retail outlet in the city, the sixth such facility in the country, through its authorised dealer Buildcraft Interior, the company said. MillerKnoll has drawn up plans to open additional showrooms in key cities across India, Managing Director for Asia Pacific, Middle East, and African regions, Kartik Shethia said. The opening up of a dedicated showroom in Chennai in partnership with Buildcraft Interior marks a significant milestone in MillerKnoll's growth strategy, a company statement said here on Sunday. The new outlet in the city showcases all the iconic brands under MillerKnoll. Some of the brand portfolio of MillerKnoll includes Herman Miller, Colebrook Bosson Saunders, Knoll, DatesWeiser, and Design Within Reach, among others. The price range of MillerKnoll products at the Chennai showroom ranges between Rs 60,000 and Rs 2.50 lakh. "With this showroom, MillerKnoll is not merely showcasing its products but creating an ..

Online furniture retailer Wayfair to cut 1,650 jobs to trim costs

The company has been taking cost-savings initiatives since August 2022, in a bid to operate more efficiently. Last year, it said it would cut 1,750 jobs, or about 10% of its workforce

Davos 2024: Ikea prices to fall despite Red Sea disruptions, says CEO

Ingka Group has invested more than 1 billion euros ($1.1 billion) in price reductions across its markets from September to November, and aims to continue lowering prices in 2024

Wakefit.co reports 35% increase in revenue during 2023 festive season sale

While mattresses and accessories continue to be the highest contributors to the revenue, furniture now commands 30 per cent of the business

Ikea India expects double-digit growth, to sell festive dedicated items

The Swedish furniture major is also changing its food menu to offer more local products, depending on where the store is located

No corporate has sought furniture to help employees in work: Godrej Interio

Leading office furniture brand Godrej Interio has "never" been approached by any corporate client asking for solutions to help an employee put in elongated work hours, a top official said on Tuesday. Corporate clients are more focused on making employees more productive, ensuring that they work as a team and also aspects like sustainability, its parent firm Godrej & Boyce chief executive Anil Verma said. "The short answer is... I never got a customer saying 'I want my people to work so many hours'," Verma told PTI, replying to a specific question if the company has seen corporates seeking such help. Infosys co-founder N R Narayana Murthy recently triggered a flutter by suggesting a 70-hour work week to help in faster growth of the economy. As companies get employees back to work ending the pandemic period practice of work from home, there is a sharp decline of over 70 per cent in the revenues from individuals, Godrej Interio's business head Swapneel Nagarkar said. However, the ...

56th edition of IHGF Delhi Fair Autumn and Delhi Fair Furniture has begun

Delhi is witnessing a fashion to furnishing fair from October 12 to 16, 2023. The 56th edition of the Delhi fair has already started and it expects more than 3000 exhibitors

Rahul Gandhi meets carpenters, builds furniture in Delhi's Kirti Nagar

After porters in Anand Vihar and passengers on a train in Chhattisgarh, Congress leader Rahul Gandhi interacts with carpenters in Asia's largest furniture market

Ikea enters 2nd phase of growth in India, to expand retail operations

Swedish furniture maker Ikea is looking for omnichannel expansion with diverse retail formats besides kicking off online operations in Delhi-NCR by the end of 2024 as it enters the second phase of growth in the Indian market. According to company India CEO Susanne Pulverer, Ikea is now planning to expand its operations by adding more stores to its network and considering new locations such as Pune and Chennai and increasing local sourcing making products more affordable here. Ikea, which has completed five years of retail operations after opening its first store in Hyderabad on August 9, 2018, plans to increase its employee count to 10,000 from 3,000 in the coming years. Besides, the company which sources from India for its global retail operation, is expanding its scope and looking into a big category with wood-based products here. "Our next growth phase in India looks very promising and full of opportunities. IKEA is committed to India and here for the long term. We are looking a

Haworth to set up new factory in Tamil Nadu, to invest $8-10 million

The company's second factory in India will produce furniture for domestic market as well as for exports to West Asia and Southeast Asia

Urban Ladder to double its retail store presence in India by March 2024

Furniture and home decor brand Urban Ladder, which on Wednesday opened its 50th store, said it plans to double this store count by March 2024. The company, which opened its latest store in Kolkata, has rapidly scaled up its offline presence in the last nine months as it was operating only 13 stores until June 2022. "... the company plans to expand its retail stores in 32 cities by 2023 and aims to double this number by March 2024," Urban Ladder said in a statement. Starting its journey as an online brand, the company would continue to strengthen its presence in the e-commerce segment. "The world of e-commerce is rapidly expanding, and Urban Ladder also aims to strengthen its online presence through UL.com and Jiomart," it said. Urban Ladder Chief Business Officer Nishant Gupta said the company has a robust expansion plan to cater to consumers across various metro and non-metro markets. "Our customers have always supported and motivated us to create unique offerings and every comp

Satish Jaiswal, founder of Jaiswal Furniture, is one of the Youngest and Successful Entrepreneurs under 20

.

After Rs 10,500 crore infusion, Ikea plans further investment in India

Ikea India on Tuesday also announced its second price cut, which is 16-39% across its products

United Furnitures' Belford, who abruptly fired 2,700, calls move agonising

David Belford, United Furniture owner who abruptly fired all of its 2,700 employees in one night last month & disappeared, resurfaced, saying "devastated by turn of events" calls situation "agonising"