The Hindu Business Line : Godrej Lifespace plans more stores

Kolkata March 20 The number of Godrej Lifespace retail stores is proposed to be increased from about 50 at present to 200 by 2010, according to Mr Shyam Motwani, Vice-President & Business Head of Godrej Lifespace, the retailing division of Godrej & Boyce Manufacturing Co Ltd.

Godrej Lifespace is targeting a turnover of Rs 450 crore by 2010. Of this, sales in West Bengal are expected to be around Rs 20 crore.

Addressing a press conference here today to announce the launch of the Godrej Lifespace eMall, Mr Motwani said augmenting the number of Godrej Lifespace stores would entail an investment of Rs 90 crore, and some Rs 30 crore out of this would be invested in new stores, Rs 10 crore on manpower and Rs 50 crore on advertisements and sales promotion. The total amount required would be raised through internal accruals and debt.

According to him, all Godrej Lifespace stores would be managed by the company and each would, on an average, be around 3,500 sq ft in size. He ruled out any immediate plans for retail rollout on franchisee mode.

Mr Motwani said the Godrej Lifespace eMall was an online retail shopping mall that was conceived keeping in mind the need to save customers' time and effort while shopping.

Customers can now choose and make online purchases from a range of Godrej home & office furniture, appliances and security products from anywhere using a computer and have them delivered at their doorsteps.

Besides accessing detailed product catalogues online, the Godrej Lifespace eMall has an interactive software that advises customers on their ideal product requirements. It also has a colour-draping option whereby customers can just click a colour choice button and see instantly how the same model looks in another colour. The eMall also offers tips on home décor and security.

For the year ending March 31, 2007, Godrej Lifespace has targeted sales of Rs 100 crore that would be generated from 50 retail stores located countrywide. This would mark a growth of 55 per cent over sales in 2005-06, Mr Motwani said.