Godrej Interio, the furniture arm of Godrej Group, is looking to double its mattress segment turnover up to Rs 400 crore in the next three years.
“We have around 5 per cent market share in the organised mattress segment now but we are expecting to double our turnover in the next three years.
“We have a turnover of Rs 170 crore at present from the mattress segment and in the next three years we want to double it and go up to Rs 350-Rs 400 crore,” Godrej Interio Chief Operating Officer Anil Mathur said.
The organised mattress segment in the country is estimated to be around Rs 3,000 crore, growing at 8-9 per cent. The company aims to clock a total revenue of Rs 2,000 crore this fiscal and is aiming to grow at a compounded annual growth rate (CAGR) of 15-16 per cent over the next three years.
Last year, the company had recorded a turnover of Rs 1,700 crore.
In the estimated Rs 8,000 crore branded furniture space that is growing at 10-12 per cent, the company has a market share of 15 per cent.
The business-to-consumer segment contributes over Rs 500 crore in the branded furniture space, with the remaining coming from business-to-business sector.
The company is also planning to set up a greenfield plant at Khalapur in the next two years to manufacture both furnitures and mattresses.
“We are spread over three locations — Vikhroli, Shirwal, Haridwar and we are coming with a greenfield project two years from now at Khalapur, on the Mumbai-Pune expressway,” Mathur said.
He, however, did not divulge the quantum of investment for the same.
Godrej Interio has presence in 700 outlets across the country, including 55 company-owned stores. It is also planning to launch its e-commerce platform this April.
“Online will play an important role in the omni-channel strategy that we have developed. We are looking at e-commerce not just for online sales but to drive traffic to stores,” Mathur added.
The company has already partnered with e-commerce players like Flipkart and Pepperfry to retail its products online and is also planning to tie-up with Amazon.