Livspace Plans Business Expansion with $50 Million Investment
Livspace, an Omni channel home interiors and renovation platform, plans to invest $50 million for its retail business expansion across India and Asia Pacific (APAC), the company said in a press release. The company holds a 65% market share in the organised home interiors sector and also plans to set up 150 Design Experience Centre (ECs) over the next 18 months. With this phase of expansion, the company expects to capture the demand for modular solutions from markets such as Indore, Surat, Lucknow, Mysore, and more. "The home industry suffers from massive fragmentation. By setting up another 150 Design Experience Centres in over 60 cities in India and over 20 cities in the Asia Pacific we intend to bring the same goodness to these new markets", said Ramakant Sharma, founder, and COO, Livspace. The new centers will supplement an existing network of over 25 stores in both metros and non-metros, such as Delhi-NCR, Bengaluru, Mumbai, Ahmedabad, Jaipur, Kochi, etc. During this phase, the company will look to on-board over 1,000 new design entrepreneurs across the country and also look to grow the team overseas.