After achieving success in consumer goods, real estate, appliances sector, Godrej is now eyeing the mass premium furniture segment in India. With an investment of Rs 50 crore, Godrej & Boyce has launched its new furniture venture ‘Script’. The plan is to launch 3 stores in start across 3 cities namely Banglore, Delhi, and Mumbai in the first year and focus on further expanding Script in other big cities with 18 stores in 3 years. Although Godrej has presence in the furniture sector with Godrej Interio, the new brand Script and Interio will work as different entities.
On the occasion, Mr. Rajat Mathur, Business Head Script said, “Script is a new perspective on furniture and accessory design that is inspired by contemporary living. Currently, there is a limited number of international and national branded furniture players in the market. In addition, there is also a vacuum in the attainable premium segment in furniture retail. With Script we see a huge opportunity to bridge this gap.”
With the market size that is estimated to be over Rs 10,000 crore, Godrej is expecting a revenue of Rs 320 crore in the coming three years.
Apart from furniture, Script will also sell home accessories like rugs, soft furnishings, linens, pillows and pillow covers, lamps. The company will be spending around Rs 25-30 crore next year on marketing activities. The idea of Script is inspired by the contemporary lifestyle and it will try to offer ‘freedom of living’ to the customers.
“Currently there is a limited number of international and national branded furniture players in the market. In addition, there is also a vacuum in the attainable premium segment in furniture retail. With Script we see a huge opportunity to bridge this gap,” Script Business Head Rajat Mathur said to the reporters.
