Godrej Interio targets Rs 5,000 crore revenue; to invest more than Rs 300 crore

Kolkata: Godrej Interio, the furniture retailing arm of Godrej Group, is eyeing Rs 5,000 crore turnover by 2016-17, with plans to invest more than Rs 300 crore to expand manufacturing capacity and retail stores.

Addressing a press conference here on Monday, Godrej Interio chief operating officer Anil S. Mathur said the company plans to set up more than 75 stores this year itself with focus on tier II and III cities. Godrej Interio in 2012-13 clocked Rs 1,500 crore revenue.

"We are aiming to become a solution provider rather than a product provider," said Mathur. Godrej Interio at present has 49 exclusive stores and also operates through 800 dealers.

The size of the branded furniture market in India is about Rs 10,000 crore out of which Godrej Interio has around 15% share. Mathur said the company also plans to set up 200 speciality stores which will design and built products as per the consumer's convenience.

"We would also partner with global brands to bring them to India. This could also involve local manufacturing, exports and co-branding of the products. We are in talks with Italian firms apart from our existing partnership with an US and Japanese brand," said Mr Mathur.