20 stores! Rs 10 cr investment! This furniture brand to expand physical presence in tier-II cities

Furniture brand WoodenStreet plans to expand its physical presence by opening more than 20 stores, including 12 in tier-II cities, by July next year with an investment of Rs 8-10 crore, the company said on Thursday.

Currently, the company has over 25 experience stores across the country.

"The company is planning to expand its physical presence across the country by adding over 20 experience stores in the next 12 months with an investment of Rs 8-10 crore. Of this, around 12 are expected to be in tier II cities," the company said in a statement.

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The company also stated that about 30 per cent of its clients during the lockdown were from tier-II cities, which has motivated WoodenStreet to invest and expand its presence in smaller cities.

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"The tier II city market has been the backbone of the industry. So far, our experience in cities like Jaipur, Ahmedabad, Indore, Agartala and Kochi has been nothing short of amazing. We have designed an exclusive range of products that are highly in-demand in the tier II cities and we believe our customers from these parts of the country will love what we have in store,? WoodenStreet CEO Lokendra Singh Ranawat added.