To boost home solutions business
Godrej & Boyce Manufacturing Company Ltd. has unveiled a retail concept called ‘One Godrej’ under its U&Us (You and Us) brand as part of its strategy to further strengthen its presence in the home solutions space.
The company would open seven ‘One Godrej’ experience centres in key cities featuring Godrej & Boyce products starting from furniture to consumer durables, appliances, storage solutions and locks, security solutions and home decor where customers can walk in and buy gethave home interior solutions from a one-stop-shop.
The company has tied up with third parties having expertise in painting, false ceiling and civil construction to deliver the integrated solution. Everything can be availed under one bill starting from design to delivery of the furnished homes in a maximum 45 days.
As part of this strategy, the company has consolidated all consumer durable businesses across the group to offer an integrated home solutions platform, it said.
The company has announced plans to invest ₹50 crore in this new initiative, including deployment of technology and in the new business strategy.
U&Us, which is now a ₹20 crore business of customised furniture, plans to strengthen its reach in 20 cities with an expanded network of 50 centres by 2025.
“There is a significant opportunity for Godrej to provide greater value by offering a comprehensive solutions for homes, Consumer facing businesses from across the group have consolidated their channels to provide services and products on a common platform called One Godrej by U&Us,” said Nyrika Holkar, executive director, Godrej & Boyce Manufacturing Company Ltd.
“For 120 years we have been at the forefront of the home interior and durable market in India. With continued consumer focus and innovation, we expect a CAGR of 25% from these lines of businesses over the next three years,” Ms. Holkar, a member of the Godrej family, said in her interaction with the press.
The offering also includes architects, designers, carpenters and work persons who will execute the work.
“The One Godrej concept has emerged from the opportunity to harness the strength across all our consumer durables business and be consumed as one stop home solution brand by our consumers,” Anil Mathur, COO and business head, Interio division, Godrej & Boyce said.
With this new business format U&Us would grow to a ₹1,000 crore business by 2025, he added.