Jammu & Kashmir set to be new hub for this furniture retail brand
By Retail4Growth Bureau | April 17, 2023
WoodenStreet, the furniture store, has expanded its offline presence to Jammu & Kashmi with a new studio located at one of the prime locations - the Kunjwani Bypass, Srinagar Road (Jammu), spanning a carpet area of 3,500 sq. ft, and at an investment of around INR 3 crore.
WoodenStreet, the leading online furniture store, has expanded its offline presence to Jammu & Kashmir with the launch of its first store in the state & is set to become a top destination for furniture shoppers in the region.
The new studio is located at one of the prime locations at Kunjwani Bypass, Srinagar Road (Jammu), spanning across a carpet area of 3,500 sq. ft, at an investment of around INR 3 crore. The company also plans to make an additional investment of INR 3-5 crore to expand its warehousing and supply chain infrastructure in the state.
As part of the expansion project, WoodenStreet has already hired a team of 20 professionals to spearhead its operations in J&K and plans to create over 50 more job opportunities shortly. This move highlights the brand's unwavering focus on job creation and economic growth in the region.
Speaking on the launch, Lokendra Ranawat, CEO and Co-founder of WoodenStreet, said, "We are thrilled to bring WoodenStreet to Jammu & Kashmir and offer our customers access to our wide range of home furniture & furnishings. Our goal is to provide an exceptional in-store experience that matches the convenience and quality that our customers have come to expect from our online store."
“Tier-2 and Tier-3 cities are poised for a great leap forward post-pandemic. These cities offer enormous opportunities for the furniture and decor industry, with a focus on designs that are both beautiful and practical. As a result, they are likely to become the next hub for this industry,” he added further.
According to the company, the new launch is designed to offer customers a unique shopping experience, with a wide variety of furniture designs to choose from. To strengthen its omnichannel presence, WoodenStreet plans to build more of its experience stores in Tier 2 and 3 cities to give consumers a ‘touch and feel’ exposure to furniture and several other products.
Founded in 2015, the brand currently operates 100+ brick-and-mortar across India and has more than 350+ delivery hubs, delivering a huge range of over 30k+ home furniture, décor, and home furnishing products.
The company, in April last year, secured $30 million in Series-B funding with Westbridge Capital. In October 2022, WoodenStreet unveiled its plan to invest approximately $20 million to fuel its growth nationwide.
