Godrej, which had launched its premium home furniture and décor brand Script in December, plans to expand its presence to seven cities with 18 stores in the next three years. After opening its first store in Bengaluru, the company has entered the Delhi-NCR region.

Rajat Mathur, Business Head, Script, Godrej & Boyce, said, “We aim to clock revenues of about ₹320 crore from Script by 2020. We expect the Delhi-NCR region to contribute nearly ₹60 crore in the next three years as we believe it will be one of our key markets.”

“We plan to invest about ₹50 crore every year to fuel this expansion,” he added.

The company intends to open five stores in the Delhi-NCR region in the next three years. Other cities where Script stores will be opened include Mumbai, Chandigarh, Hyderabad, Kolkata, and Pune besides a second store in Bengaluru.

Three formats

Godrej is looking to open these stores in three formats. While the large format stores will be of 14,000-12,000 sq ft, the company is also planning smaller format stores of 6,000-8,000 sq ft.

“We are also working on smaller boutique store format in the 1,500-2,000 sq ft range. This will help us ramp up our presence in malls, airports, hotels and other real estate developments. We would look at opening a prototype to test this format by January next year,” Mathur added.

The company intends to follow the omni-channel approach and is looking to start selling online in the next few months by leveraging warehousing facilities of the Godrej group across 21 cities.

Replying to a query on the growing competition from international brands and e-commerce players, he said, “Nearly 80-85 per cent of the furniture segment is still unorganised. We believe the presence of these players will only help develop the ecosystem and fuel the growth of the overall organised furniture segment in the country.

“At the same time, we feel there is a vacuum in the attainable premium furniture retail segment and Script is well-positioned to bridge this gap.”

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