Wooden Street to Expand its Offline Presence by Opening more Stores in 2019

Rachana | Updated: 01-02-2019 17:19 IST | Created: 01-02-2019 17:19 IST
Wooden Street to Expand its Offline Presence by Opening more Stores in 2019
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Wooden Street started its journey as India’s first online custom furniture store and became synonymous with quality furniture in India for providing solid wood products which excel in comfort, designs and are affordable. Registering over a 100% YoY increase in its revenue by the end of FY 2018, WoodenStreet.com aims to expand its reach in the online furniture market.

Recently, Wooden Street successfully raised USD 1 Million in Series-A round. The funding was led by RVCF (Rajasthan Venture Capital Fund), and the investment was overseen by Growth India Fund. “We had our experience stores already set-up in Bengaluru, Mumbai and Jaipur, and after this successful funding, we focused on furniture retail market by opening more stores. Thankfully, we have reached our goal of 12 stores in 2018.”, says the company CEO Mr Lokendra Ranawat.

Wooden Street’s Experience Stores allow customers to touch and feel the exquisite beauty and premium quality of its solid-wood furniture and also consult professional designers for their interior designing requirements.  

Wooden Street launched its first offline store in 2015 in Bengaluru, and since then, there has been no looking back. Proceeding the strategy of building a larger omnichannel business in furniture and home décor segment, Wooden Street opened 9 new experience store in 2018.

For the next phase of expansion, the company continues to study other cities, aiming to open more stores in 2019. “Experience Stores have doubled the revenue each year. Now, we aim to open 25 more stores by the end of next financial year, and 50 stores in the next four years.”, Mr Ranawat added.

Wooden street has served more than 25,000 happy customers in the past four years and developing its presence in both online and offline fronts has been a key step towards profitability in FY 2019-2020.

Boasting a range of more than 8,000 pre-made designs, covering all major home décor and furniture categories, and curated furniture displayed within the experience stores, WoodenStreet is on the path to becoming a one-stop-shop for all things furniture.

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