Custom furniture platform WoodenStreet to invest $2 million for expansion
WoodenStreet currently has around 30 brick-and-mortar stores and plans to take the number to over 50 through the latest investment round
January 27, 2021 / 04:24 PM IST
Custom furniture startup WoodenStreet is all set to expand its reach by opening over 20 new stores with an investment of approximately $2 million this year.
The furniture brand's expansion will raise the store count to over 50. The firm is looking at both franchisee and company-operated brick-and-mortar formats.
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"The very reason behind the expansion of our multiple stores throughout the country is to create a better connection with customers. We want people to not only just visualize, but also feel the quality of furniture that we offer. Henceforth, our aim is to offer our customers a life-changing experience by rendering the exquisite collection of handpicked products," WoodenStreet CEO Lokendra Ranawat said.
Earlier in 2020, WoodenStreet had launched two new brick-and-mortar experience stores in Kolkata and Kochi amid the COVID-19 pandemic.
"2021 is just the beginning of a new wave of our expansion drive. In the next 36 months, we want to raise the count to 100+ stores, in terms of both franchisees and experience stores and we are all set for it. From the 20 new stores that we are planning to launch this year, we have already finalised for 7 of these in Thane Mumbai, Lucknow, Chandigarh, Chennai, Bangalore, Noida, Gurgaon, among others and it will get live in next 15-20 days, respectively," Ranawat added.
WoodenStreet currently operates over 30 brick-and-mortars across India. Apart from online presence, the firm has more than 30 delivery hubs, delivering a range of over 10,000 home furniture, décor and home furnishing products.