Godrej and Boyce introduces new business format in home solutions space
The company announces its intent to further strengthen its presence through the 'One Godrej' retail concept
Godrej & Boyce has established a strong footprint in the lifestyle space with its portfolio of consumer durable businesses. Nyrika Holkar, executive director, Godrej & Boyce, announced their innovation and business strategy to further strengthen their presence in the home solutions space by introducing ‘One Godrej’ experience through its U&Us offering. These centres will allow consumers to experience the entire gamut of home solutions from the house of G&B from a single source. The company plans to invest Rs.50 crore towards this innovation and business strategy over the next three years.
The newly introduced retail concept ‘One Godrej’ is an ideal platform to establish a dialogue with today’s consumer and showcase offerings that are customised and integrated into an overall home interiors plan offered by a team of expert interior designers and project managers. U&Us plans to strengthen its reach in 20 key markets in India with an expanded network of 50 centres by 2025. Of these, 7 large format One Godrej experience centres will be operational across 7 markets in FY2020. With this, U&Us expects to touch a revenue of INR1000cr by FY2025.
Holkar commented, “We have listened closely to our customers, and believe there is a significant opportunity for Godrej to provide greater value by offering a comprehensive solution for the home. Consumers 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. For 120 years, we have been at the forefront of the home interior and durables markets in India. With continued customer focus and innovation, we expect a CAGR of 25% from these lines of businesses over the next three years.”
Driving commitment to provide an unparalleled level of service to partners comprising architects and designers, Anil Mathur, COO and Business Head, Interio Division, added saying, “The One Godrej concept has emerged from the opportunity to harness the strength across all our consumer durables businesses and be consumed as a one stop home solutions brand by our consumers. With this new business format, we are expecting U&Us to achieve a total turnover of Rs.1000 crore by 2025.”