Godrej Interio to open 9 India Circus stores in 2 years
Mumbai: Godrej Interio, the furniture arm of Godrej & Boyce Mfg Co. Ltd, will open nine stores of India Circus, the home store run by designer Krsnaa Mehta, a top executive said on Friday.
Godrej Interio will spend Rs8-10 crore in setting up the stores in cities including Bangalore, Delhi, Pune, Chennai, and Hyderabad in the next two fiscal years, said chief operating officer Anil Mathur.
These are all likely to be 1,100 square feet in size each, and will largely be in high street shopping areas. The company has inaugurated its second store at High Street Phoenix Mall in south Mumbai. It already has a store in south Mumbai’s art district Kala Ghoda.
“We strategized that it’s good for the brand to be omnichannel,” Mathur said. “We had success with Godrej Interio stores when taking them online, and we are looking to replicate that success. Also, ATVS (average transaction values) is nearly double offline versus online,” said Mehta, design director and founder of India Circus.
Godrej also plans to introduce shop-in-shops of India Circus products at 30 of its 55 company-owned and company-operated Godrej Interio stores.
“We have also signed design deals with large clients including Future Group and Cello Plastics in exchange for design royalties,” Mehta said. The licensing business is the company’s third largest vertical.