In a bid to tap the growing ecommerce market in India, the Godrej Group is planning to foray into online furniture retail through Godrej Interio, the furniture retail arm of the Godrej Group.
The company has also confirmed an investment of about $62.6 mnto facilitate online retail over next three years.
Godrej Interio currently has about 52 company-owned stores & looks to add another 8-10 stores, in line with the new development.
The company is now focusing more on a franchise model & also plans to launch an e-commerce platformby the end of 2017.
With furniture being placed under the 28% tax slab in the Goods & Services Tax (GST) regime, the company is trying to keep the prices from impacting customers.
Godrej Group currently runs online grocery delivery platform Nature’s Basket.
Once the group forays into online retail it will be in competition with UrbanLadder, PepperFry, Furdo, FabFurnish, Furlenco, apart from ecommerce giants like Amazon & Flipkart.
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