Furniture brand WoodenStreet announced it is ready to grow exponentially by doubling its on-ground presence from 45 to 100 stores. They have set their eyes on generating approximately Rs 600 crore in revenue with an investment of Rs 50 crore.
WoodenStreet 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 raise the number of stores from 45 to 100, boosting revenues to Rs 600 crore.
“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 and gifting products.