Furniture Brand Evok Aiming For Three-Digit Store Count in FY2022
Evok by Hindware is looking forward to cross the three-digit store count mark in 2022. Rakesh Kaul, CEO and Whole Time Director, Somany Home Innovation Limited (SHIL) said, “The business model for us is to be much leaner. And when you make a leaner business model, it's inevitable that you focus more on your competencies, which at this point is more on product and brand and giving experience to the consumers. So our focus would be more on expanding franchise stores than our own stores. We are focused on delivering profits by improving efficiency and lowering costs." Evok has 29 franchises and 2 standalone retail stores. By the end of this year, the brand plans to add 18 more franchise stores and take the count to 50. Evok presently selling through its website, franchise and retail stores, and online marketplaces such as Amazon, Pepperfry, and Flipkart. Evok will focus more on its Direct to Consumer (D2C) strategy. It is plannig to expand across the major towns and reach out to more than 18,000 pin codes. SHIL is the parent company of Evok working in consumer appliances, home retail solutions and furniture, and kitchen fittings business. According to report SHIL’s consolidated revenue from operations was Rs 1,775 crore.
Tags : ALLIED revenue SHIL Somany Home Innovation Furniture Brand Evok Online Marketplaces Home Retail Solutions