Godrej Enters Premium Home Furniture Segment
Godrej & Boyce entered the Rs 10,000 crore premium furniture segment through its new brand Script and expects a turnover of Rs 320 crore from this segment by the financial year 2020-21.
Script will be first launched in Bangalore and later in Mumbai and Delhi in the current financial year. The company will later open stores in Kolkata, Chennai and Chandigarh, taking its store count to 18 in the next three years.
The company is already present in the furniture category with Godrej Interio.
Despite some slowdown in the appliances business due to disruptions related to demonetisation and the implementation of the Goods and Services Tax, Godrej & Boyce is targeting an overall turnover of Rs 4,000 crore for this financial year.
The growth rate of the appliances has slowdown to 11-12 percent from 15 percent due to GST and the note ban, Jamshyd Godrej, chairman and managing director of Godrej & Boyce told BloombergQuint.