Furniture Startup WoodenStreet Plans to invest ₹50 Cr in 2022
After an incredible FY2021-22, WoodenStreet is ready to grow exponentially by doubling its on-ground presence from 45 to 100 stores. They have set their eyes on generating approximately ₹600 Cr in revenue with an investment of ₹50 Cr. The brand will also be introducing new products in the market ranging from smart office furniture & modular kitchen solutions to an eye-pleasing gifting collection.
WoodenStreet, a name that grew from 20 stores to 45 in the past year, is ready with plans for 2022. Their prime focus this year will be on doubling their current presence in all the metro and Tier-II, Tier-III cities, which will also help generate 800-1000 job opportunities for the youth. The expansion will help WoodenStreet cover more than 500,000 sq. ft. as they plan to inaugurate multiple stores and warehouses in various cities. The aim is to bump up the number of stores from 45 to 100, boosting their revenue to a whopping ₹600 Cr.
“The year 2021 was nothing short of an amazing ride for WoodenStreet. We were able to expand our reach to almost every city in the country, which helped us to grow from 20 stores to 45 in no time. WoodenStreet has always focused on delivering quality at affordable prices and looking at the way people have loved the ergonomics of our products and the array of the product range that we have; we are sure of doubling our numbers in 2022.” Said Lokendra Ranawat, Co-founder, CEO, WoodenStreet.
Along with the expansion, the company will also be introducing new categories as an addition to their current extensive catalog of 100,000+ home decor and furnishing products. The categories include office furnishing, modular kitchen solutions & gifting products.
“Over the past couple of years, people have shown great response to our modular and smart work from home range. We realized that people need affordable ergonomically designed modular furniture in their homes, kitchens, and offices, which is why we are planning to introduce some amazingly innovative products which will create a better living experience in every home.” He added.
The smart office furniture category is targeted towards organizations looking for better modular options to enhance productivity. As far as modular kitchen solutions are concerned, WoodenStreet intends to create harmony between the aesthetics of home decor and kitchen drawers. The brand has also shown interest in creating a one-stop gifting solution on their website and stores.
