WoodenStreet to invest around $8 to $10 mn for offline expansion
By Retail4Growth Team | September 10, 2019
WoodenStreet laid out its plan to establish 50+ Experience Stores across the country within next 24 months.
Online custom furniture store, WoodenStreet, laid out its plan to establish 50+ Experience Stores across the country within next 24 months. This new expansion plan was announced recently with the launch of 4 new experience stores, bringing the total to 17 stores. The company will be investing between $8 million to $10 million for this nationwide expansion.
WoodenStreet’s CEO said, “This is an era of personalisation. The industry sees a dramatic shift towards personalised products to cater the needs of an individual. And this is why personalization drives WoodenStreet at the core. Because every Indian home is different, we provide the flexibility to customize furniture as per a Lokendra Ranawat individual’s taste.”
The new phase was initiated with the opening of two experience stores in the Whitefield and Kalyan Nagar suburbs of Bengaluru. These add to the existing store in HSR Layout of the metropolis.
Similarly, alongside the existing experience store in Miyapur, Hyderabad, the company will open a new storefront within the upscale Banjara Hills locality. And in Mumbai, where an experience store exists in Powai,a new store will open in the commercial neighbourhood of Parel.
These four experience stores are the first leg of the larger expansion picture, which sees a vast chain across the country.
According to the statement, currently, the company attracts about 12,000 – 15,000 visitors per day on their website, WoodenStreet.com, emerging as one of the most successful e-commerce platforms.
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Currently, the brand has more than 30 delivery hubs and 12 experience stores across India.