India-based furniture company Godrej Interio is planning to invest Rs4bn ($62m) over the next three years to increase production capacity.
The investment will see the company increase its footprint by opening another eight to ten stores.
Go deeper with GlobalData
Godrej Interio chief operating officer Anil Mathur was quoted by PTI as saying: “We are coming up with a facility at Khalapur to expand our production capacity.
“The facility will be more for steel furniture and we are already in the process of expanding for mattresses and sofa in Haridwar.”
The commissioning of the plants is expected to take place in the middle of the second quarter of the next financial year.
Godrej Interio intends to distribute two different types of furniture through multi-brand outlets and through retail outlets.
Meanwhile, the company, which currently has a network of 800 dealer outlets, is working on expanding its reach through a franchisee model.
In addition, Godrej Interio plans to introduce an e-commerce platform by the end of this year.
Achieving revenues of Rs19.2bn ($300m) last year, Godrej Interio is expecting to increase this to Rs25bn ($391m) this year.
