D’Decor, a specialist in premium home decor and furnishing, has expanded its retail presence by launching an exclusive showroom in Chennai. The store, its second in the city brings its footprint to 3 stores in Tamil Nadu, which the company hopes to double in the future.
He adds, “Although historically, Tamil Nadu had been lagging in this space, it has now gradually caught up and we are seeing demand coming from smaller towns as well. Consumers in the state are now spending more money on decorating their homes. We expect the housing sector also to pick up which should further drive demand. We are also benefiting from a shift as the market is moving from an unorganised to a branded ecosystem.”
The brand has as many as 32 exclusive outlets spread across 26 cities pan-India. When asked about expansion in the coming few years, Bagade says, “We are present across about 2,000 multi brand outlets (MBOs) in over 300 cities. The expansion through the multi brand outlets would continue.
This being our second exclusive outlet in the city, we could look at further expansion in Chennai only after a year or so. However, nationally, we hope to add about 10-12 stores every year, as part of covering all major Tier 1 cities.”
When asked about possible investments in the state, Bagade says, “We have our manufacturing base at Tarapur in Maharashtra. And presently we do not have any manufacturing investments outside Maharashtra right. Having said that, we will be continuing with our investments in the retail and distribution aspects of our business.”