WoodenStreet to Invest Rs 8-10 crore for Expansion in Tier-II Cities
After establishing an impressive retail presence in metropolitan capitals, custom furniture start-up WoodenStreet has further plans to expand its physical presence in tier-II cities, where the company has gained great exposure through online channels, during the pandemic. The furniture start-up is planning to invest a whopping Rs 8-10 crore for this expansion drive.
The pandemic led by Covid-19 has been rewarding for WoodenStreet and 30 percent of the clients that the brand served during the lockdown came from tier-II cities which have motivated the brand to invest and expand. The plan is to open 20+ stores spread across more than 10 cities in tier-II regions of the country, in the upcoming 12 months. The area for each of these experience stores will be spread across 2,500-3,000 sq.ft. so that there is enough space to give the consumer an experience without compromising the COVID guidelines.
The brand is all set to inaugurate 4 new smart stores in cities like Chandigarh, Lucknow, Ranchi, and Nagpur. These stores will be technologically advanced, bringing virtual reality to the stores, which will enable the consumers to visualize their homes while they shop for their furniture. With this expansion, the brand aims to generate 100+ job opportunities for the citizens.
Lokendra Singh Ranawat, CEO WoodenStreet, expressed his vision and details about the expansion, “The tier-II city market has been the backbone of the industry. So far, our experience in cities like Jaipur, Ahmedabad, Indore, Agartala & Kochi has been nothing short of amazing. We have designed an exclusive range of products that are highly in-demand in the tier-II cities and we believe our customers from these parts of the country will love what we have in store”.
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So far, the brand has outshined every competitor in the field, and with this expansion, they might double their presence in the country. The brand is expanding its retail presence through both – company-owned stores as well as franchise-owned outlets.