Godrej enters premium home furniture market with a new brand ‘Script’
, Loknath Das , Comments Off on Godrej enters premium home furniture market with a new brand ‘Script’
MUMBAI: Godrej has launched a premium home furniture brand called ‘Script’, which is said to be inspired by contemporary lifestyle.
With an investment of Rs 50 crore in the new venture, the plan is to launch 3 stores across 3 cities in the first year and focus on further expanding the brand in metros.
Script will be tapping into a market size that is estimated to be in excess of Rs 10,000 crore. The first store will be launched in Bangalore followed by stores in Delhi and Mumbai. The business expects a turnover of Rs 320 crore by the end of the 3rd fiscal year.
On Script, Jamshyd Godrej, MD & Chairman, Godrej & Boyce, said, “It is the first brand from the house of Godrej & Boyce, which establishes Godrej in the attainable premium furniture category. Backed by a strong supply chain infrastructure owing to our existing leadership presence in the furniture segment, we believe Script will be a preferred brand amongst our stakeholders.”
Anil Mathur, COO Godrej & Boyce said, “The brand is premium and niche but endeavours to reach the mass market wherein aspiration for cutting-edge products exists but prevailing range remains non-existent.”