Delhi, 01st July 2023: Godrej & Boyce, the flagship company of the Godrej Group announced that its business Godrej Interio, India’s leading furniture solutions brand, in home and institutional segments is all set to strengthen their retail presence in Delhi and NCR region. The expansion of brand presence in Delhi and the National Capital Region (NCR) was a strategic move based on a combination of consumer profiling and the existing infrastructure. The well-traveled consumers in Delhi are highly aware of the latest designs and innovations, making it imperative to establish a stronger presence there. Additionally, considering the substantial working population, the modern workforce seeks spaces that offer both a productive and enjoyable work life, as well as opportunities for socializing with colleagues during and after work hours.
Commenting on this, Swapneel Nagarkar, Business Head, Godrej Interio said “Our steadfast belief in surpassing the ordinary has led us to consistently offer exceptionally innovative products to our valued customers. In today’s world, consumers are highly knowledgeable and globally exposed, seeking a more refined lifestyle. As living space ecosystems and work cultures evolve, there is a growing demand for homes and office spaces that cater to these changing needs. At Godrej Interio, our objective is to bridge these gaps by creating an interior ecosystem and providing an unparalleled experience. We achieve this by introducing inventive concepts for homes and office spaces, utilizing state-of-the-art patented technologies.”
Delhi and NCR are expected to register an impressive growth of 30% respectively in the home furniture segment in FY23-24. Currently, Godrej Interio has a market share of 15% in Delhi. While the brand currently has a strong network of 15 exclusive stores in Delhi NCR region, it plans to launch another 10 stores during the year. In the office furniture segment, Delhi contributes 55% to the brand’s overall annual business revenue of the overall Delhi/NCR region revenue. Godrej Interio’s office furniture segment is expected to grow at 15 % in 23-24 ahead of the industry growth of 8-10%.
On strengthening the brand’s presence, Swapneel, further added, “Godrej Interio has a strong foothold in the Delhi market owing to its huge brand recall and significant customer base in the region. Additionally, the overall annual revenue from the region is 300 Cr with a contribution of 35% and 65% from home furniture and office furniture segments respectively. With 15% market share of the overall organized furniture industry, the Delhi – NCR region market contributes to a significant 15% of Godrej Interio’s overall revenue. Due to the strong brand recognition, we are certain that the brand will further expand the customer base bringing more patrons into the rapidly expanding Godrej Interio family.”
In the home furniture segment, sofas is predominantly the most popular category in the region. However, the prevailing consumer trend this year revolves around minimalistic aesthetics and distinctive furniture pieces. In response to this trend, Godrej Interio has recently introduced the ‘Arcbay’ and ‘Sitso’ sofa sets, which are experiencing substantial demand. These offerings enable customers to luxuriate in the advantages of tailored design configurations, dimensions, and materials, thereby facilitating an optimal sitting experience that can be personalized to suit their individual living spaces.
