Godrej eyes furniture markets in eastern India

Leader in the Indian home furniture segment Godrej Interio intends to open five new outlets in eastern India by the end of next month the Assistant Vice President, Sales Ratul Mazumder disclosed this to TSI. Originally, the company had planned to open 7 new outlets, out of which the one Bhubaneshwar has already opened.

The company has a total 130 outlets in eastern India, of which 13 are dedicated company outlets. Godrej Interio’s biggest outlet in West Bengal was inaugurated at the northern end of the city on Saturday. The new outlets will come up at Guwahati, Ranchi, Shiliguri, Patna and Muzaffarpur.  “Already we have one at Ranchi and are looking for land or building for the second. The new outlet at Patna will be opened by the end of this month,” he added.

Claiming Godrej as the market leader, Mr Mazumder admits Kolkata shares only Rs 130 crore of its Rs 1400 crore annual turnovers while eastern India’s share to company’s sales is nearly Rs 350 crore. The company is now looking for a quantum jump in growth rate from 25 per cent to 30 percent.

The major challenge the company faces is not from other brands but from the small entrepreneurs. “The unorganised sector, including the roadside manufacturers, holds nearly 60 per cent of India’s furniture market”, Mazumder added. This is the reason why he prefers not to quantify the market share Godrej Interio enjoys.