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Style Spa Furniture, part of Saroj Poddar’s Adventz Group, has introduced an e-commerce platform to complement its brick-and-mortar retail stores.
Simultaneously, the furniture and interior retailing company is also revamping its existing stores, besides exploring a franchisee model to expand further.
DK Jairath, Director and CEO, Style Spa, said: “Consumers are spending a lot of time on the digital interface. We studied growth both in the brick-and-mortar and online retail and realised that there existed an opportunity in the online space.”
Last mile delivery The company plans to use its existing stores in 65 cities as fulfilment centres for last mile delivery.
“Online retail is all about last mile connectivity. Hence, we will be tapping into our existing logistics and distribution network to expand our base.”
Style Spa will compete with e-commerce players such as Urban Ladder, Pepperfry and FabFurnish.
The overall furniture market in India stands at $20 billion and is largely fragmented.
Revenue Jairath said the company hopes it to add incremental revenue of ₹12-15 crore from the online vertical alone.
Style Spa had reported a revenue of ₹225 crore in 2012-13, which it plans to double in three years.
“Our flagship stores will be in the 5,000-8,000 sq ft bracket. However, our standard stores will remain in the 3,000-5,000 sq ft range. We are also exploring the franchisee model to expand faster,” Jairath said.
He added the company is tweaking the stores as research indicated that consumers were looking at functional products which had optimal space utilisation.
The revamp of the existing stores will be in a phased manner and largely through a cluster-approach.
Style Spa has 115 stores, and plans to add 20 stores mostly through the franchisee model.
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