House of Kieraya, the parent firm of furniture and lifestyle brand Furlenco, expects to more than double its annual revenue in a year to over Rs 400 crore and become cash flow positive, the company said on June 24.
Furlenco claims to have doubled its revenue to Rs 200 crore in financial year (FY) 2022 from Rs 100 crore in FY21.
"We are planning to more than double our revenue in the next 12 months," House of Kieraya (HoK) and Furlenco founder and CEO Ajith Mohan Karimpana said. A majority of the revenue of HoK comes from Furlenco. The startup has launched two sub-brands of Furlenco — Unlmtd and lifestyle brand Prava.
Unmltd provides an annual subscription service to furnish one's entire home and luxury furniture. Karimpana said that there has been a huge demand leading to high utilisation rates post-pandemic."With Furlenco, we aim to provide access to designer furniture at value-for-money prices, and we believe that in the grand scheme of things, rental is just the first step, and we are looking at other avenues to cater to a wider audience," he said.