WoodenStreet, a furniture startup, plans to double its store count in 2022 and invest Rs 50 crore

WoodenStreet, a furniture startup, announced on Wednesday that it will invest Rs 50 crore in 2022 and wants to expand its on-ground presence from 45 to 100 stores this year. According to a statement, WoodenStreet wants to lease more than 5 lakh sqft of retail space as it expects to open many stores and warehouses in various locations.

The brand will also introduce new products in the market ranging from smart office furniture and modular kitchen solutions, and aims to generate around Rs600 crore in revenue in 2022, it added.

WoodenStreet Co-founder LokendraRanawat said:" The year 2021 was nothing short of  an amazing ride for WoodenStreet. We were able to expand our reach to almost every city in the country, which helped us to grow from 20 stores to 45 in no time.

"Over the past couple of years, people have shown great response to our modular and smart work from home range. We are planning to introduce some innovative products that will create a better living experience in every home," he added.

Ranawat further stated that by 2022, the company will have doubled the amount of items.

In addition to the expansion, the company will introduce new  categories  to  their already wide catalogue.

Courtesy: economictimes.indiatimes