Godrej Interio integrates brand U&Us and Script under its portfolio
- ~ Plans to expand the retail network by 100 outlets ~
- ~ Expands the ecommerce reach to 5,000 pincodes ~
Mumbai: Godrej & Boyce, the flagship company of the Godrej Group announced that its business Godrej Interio, India’s leading furniture solutions brand, in home and institutional segments, is consolidating their end-to-end home interior solutions brand; U&Us, and attainable premium furniture and home accessories brand; Script, in its portfolio. The integration will help the customers walking into the Godrej Interio store to get an exposure to the full range of G&B’s furniture offering, be it the core modular furniture solutions, customised furniture, end to end interiors or a modern, contemporary premium line of furniture.
Swapneel Nagarkar, Business Head, Godrej Interio said:“Godrej Interio, the retail furniture arm has seen exponential growth in the last 3 years across India and with a CAGR of 15% while the industry is growing at 6-7%. The group caters to both homes and offices as segments in the furniture category and aims at creating interior ecosystems and experiences by providing innovative ideas for homes spaces using patented cutting-edge technologies. Our recent customer segmentation study revealed that audience needs overlap across our 3 brands – Godrej Interio, Script and U & US Design Studio. Therefore, rather than address these needs separately through different brands, it only made sense to offer them under the larger umbrella of Godrej Interio. This helps us focus all our efforts and resources towards the Godrej Interio brand. Thus, the focus is to provide furniture solutions catering to the changing needs of the customer segment with the integrated approach.”
Commenting on the growth prospects, Swapneel added, “The idea is to widen our product portfolio with smart functionality and providing customized solutions through the interiors line of business. We will be focusing on widening the market penetration in the next 2-3 years thereby catering to tier 3 cities as well.We plan to strengthen our own D2C ecommerce channel by increasing deliveries to 5,000 pin codes with an improved backend for deliveries and aim to double the platform sales run rate by end of this financial year. The platform will soon be enabled to onboard our dealer network allowing them to upload their stock inventory and improve digital visibility; similar to the seller model at leading marketplace websites.”
U&Us design studios will now operate as Godrej Interio Home Interiors providing customized furniture and end-to-end home interior solutions from design to delivery. These exclusive design studios are currently present in Thane, Bangalore and Hyderabad and promise a retail experience that uses technology to aid visualisation, allowing customers to configure and visualize their own spaces. Similarly, Script’s range of premium furniture and home accessories will now be available under the Godrej Interio range in its stores as well as the website.
As a part of the consolidation, Godrej Interio also plans to offer these services through a shop-in-shop format at its COCO stores in Mumbai, Delhi, Gurgaon and Kolkata. The brand plans to eventually expand the model footprint to other cities as well.
The brand restructuring integrated operations will be completed by March 2023 and will contribute 5-8% to the overall revenue pie.With an aggressive expansion strategy, Godrej Interio plans to grow its retail network by 100 outlets across the country and is targeting an overall revenue growth of 25% in this fiscal.
Godrej Interio will also be eventually adopting a collection philosophy where they will club a collection of products that have a common thread like design language, functionality etc. and present this to the customer in an inspirational manner. The brand has currently formulated a strategy for it. The Godrej Interio website will also provide customers a glimpse of its work and services under Godrej Interio Home Interiors (erstwhile U&Us) which will have a dedicated section to itself. It will also allow prospective customers to book an in-person consultation with our designers at select cities and stores.