Spacewood Furnishers Aims ₹1.5k Cr Revenue by 2029

New Delhi, November 18, 2024: Spacewood Furnishers has unveiled its strategic growth plan to achieve a revenue milestone of ₹1,500 crore by 2029. With a strong recovery post-fire and a turnover of ₹525 crore for fiscal year 2023-24, Spacewood has maintained an year-on-year growth rate of 18-20%. The company now aims to bolster its presence in metro, Tier 2, and Tier 3 cities, while transitioning towards a B2C model and expanding its dealer network and Exclusive Brand Outlets (EBO), says a press release issued by the company.

“Our vision for Spacewood’s future is rooted in our commitment to deliver world-class, consumer-first solutions. With an ambitious growth target of ₹1,500 crore by 2029, we are focused on expanding our reach to underserved markets, providing high-quality modular furniture that blends innovation, style, and functionality,” said Mr. Kirit Joshi, Co-Founder of Spacewood Furnishers. “Our strategy is to make premium, made-in-India products accessible to consumers across the country. We are moving forward with a fresh B2C approach, expanding our dealer network and establishing more EBOs. We aim to position ourselves as market leaders and redefine how furniture solutions are experienced across India.”

Spacewood plans to further accelerate its presence in Tier 2 and Tier 3 cities, enhancing its dealer network from 650 to 1,000 in the next 3-4 years, and expanding its Exclusive Brand Outlets (EB0) from 34 to 75 within the same period, with a long-term goal of reaching 100 outlets by 2029.