Furniture start-up WoodenStreet to invest Rs 50 cr to double stores in 2022

Furniture start-up WoodenStreet on Wednesday said it will invest Rs 50 crore in 2022 and plans to double its on-ground presence from 45 to 100 stores this year by adding more stores across the country.

It plans to take more than 5 lakh sqft of retail space on lease as WoodenStreet expects to inaugurate multiple stores and warehouses in various cities, according to a statement.

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The brand will also introduce new products in the market ranging from smart office furniture and modular kitchen solutions, and aims to generate around Rs 600 crore in revenue in 2022, it added.

WoodenStreet Co-founder Lokendra Ranawat said:" The year 2021 was nothing short of an amazing ride for WoodenStreet. We were able to expand our reach to almost every city in the country, which helped us to grow from 20 stores to 45 in no time."

Ranawat added that the company is sure of doubling the number of products in 2022.

Along with the expansion, the company will also introduce new categories as an addition to their current extensive catalogue.

"Over the past couple of years, people have shown great response to our modular and smart work from home range. We are planning to introduce some innovative products that will create a better living experience in every home," he added.