CHENNAI: Furniture brand Interio by Godrej is stepping up its business with a revamped store launch in India as it targets 25 per cent annual growth over its Rs 4,500 cr revenue to achieve Rs 10,000 crore by 2029.
Aiming to capture a market share of 40 per cent in Chennai over the next three years, the company expects to generate revenues of Rs 45 crore from the city and Rs 65 crore from TN in FY27, Dev Narayan Sarkar, senior vice president and head of consumer business, Interio by Godrej, told the media here on Wednesday.
The company targets Rs 550 crore from south in FY26-27 and 25 per cent market share in Chennai.
Of the Rs 1.40 lakh crore overall market, the organised players in the furniture category are pegged at Rs 8,500 crore.
Interio by Godrej, the omnichannel player, is upbeat on the growth of business, he said, adding the configurable aspect to design makes it easier for the consumer to plan and purchase the products to meet their needs.
Sarkar also said the special economic zone unit in Tambaram caters to south east Asia and out of the overall revenue, exports contribute Rs 400 crore with the free trade agreements opening up fresh opportunities.
While institutional sales has contributed 55 per cent of sales, the retail generates the balance. The digital channel, launched about four years ago has also done well. “We have seen 11 per cent of value from online sales,” he said, adding the brand is able to service 18,000 out of the 19,100 pin codes in the country.
Interio’s retail and distribution footprint in Chennai is through 8 new showrooms, 45 channel partners and 250 retailers.
To a question on the impact of the Iran-US war, Sarkar said it has caused the input costs to go up by 10 per cent but the company is observing the situation for now.
He also said the company has launched two new categories – garden and gaming furniture.