Startup WoodenStreet USD 1 Million Expansion Plan
With an investment of INR 7.4 Crores (USD 1 Million), custom furniture startup WoodenStreet is expanding into the markets of West Bengal and Kerala by launching two new Experience Stores in the cities of Kolkata and Kochi, respectively. The company will also target the cities of Coimbatore and Mysuru to launch stores in the upcoming months. These experience stores bring the company’s premium range of furniture and home-decor accessories along with many of its services. The first-ever Kolkata store opens in Salt Lake, and in Kochi, the commercial and residential centre Edappally is the selected location. This marks the return of the company’s expansion drive post-lockdown - especially focused towards South India, along with an eastbound expansion that begins with Kolkata. “The diversity of India makes it difficult to attach a stereotypical category of furniture to its people”, explains Lokendra Ranawat, CEO of WoodenStreet. WoodenStreet will continue its southward expansion with multiple stores in the upcoming 12 to 18 months. The company currently operates 25 brick-and-mortar stores across 15 major cities of India, delivering a range of over 10,000 furniture and décor products to over 300 Indian cities.
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