Godrej Interio Targets to Achieve Rs. 3,500 Crore Sales by 2020, Plan to go Online by EoY
The furniture arm of Godrej Group -Godrej Interio is targeting to register Rs 3,500 Crore sales in next three years and would go online by the end of this year to tap the upwardly mobile Indian consmer.
Besides, it is also expanding presence in the B2C category and expects both B2B and B2C formats to contribute equally three years from now.
“We are working on a new website and by the end of this year our online e-commerce would be ready,” said Anil Mathur, COO of Godrej Interio.
He added, “It is difficult to put an estimate of the total sales revenue which would be generated from the e commerce venture, however, we estimate to generate a revenue of 10 crore from online sales this year.”
The company would adopt the omni channel system, where it would integrate its offline stores with online e-commerce channel.
“Our focus area is to have an omni channel system, which has several advantages. We have a strong offline presence and would provide a customer both online and offline opportunity,” he added.
Last fiscal, the company had a sales of Rs 2,000 crore and is expecting to achieve 20 per cent growth this fiscal with around Rs 2,500 crore.
“Godrej Interio aims to clock 3,500 crore revenues in the next three years, with an estimated share of 50 per cent of both B2B and B2C division,” Mathur added.
Some of the company’s B2C products already has online presence through its various channel partners like Flipkart, Snapdeal etc, he added.
“Our biggest opportunity to create our own online portal to get a batter experience of the whole opportunity,” he said
Currently, the ratio of the business revenue between homes and offices segments in the furniture category is 40 per cent for B2C and 60 per cent for B2B.