Godrej & Boyce Manufacturing today launched a unified brand for its furniture business, Godrej Interio. With the launch, the company has brought its home and office furniture and special projects lines under a common platform.
Jamshyd Godrej, chairman and managing director, Godrej & Boyce Manufacturing said the idea behind the new brand was to present one common brand to the consumer to cater to their different needs.
“Godrej Interio is an amalgamation with a contemporary outlook towards business,” he said. The company will be investing up to Rs 100 crore in technology and brand building over the next few years.
The company is also looking at expanding its product offerings by launching stadium seating and healthcare and hospital furniture by the end of the year.
“We will be looking at entering the hospitality segment too by next year,” said Anil Mathur, chief operating officer, Godrej & Boyce.
He said that over a period of time, the new segments would contribute about 20 per cent to the brand turnover.
The turnover of the furniture division was Rs 600 crore last year. “For 2006-07 we are targetting a turnover of Rs 800 crore which we expect to go up to Rs 1500 crore by 2010,” said Godrej.
Mathur said at present there was a larger skew towards office furniture with the category accounting for 67 per cent of the sales. But over the next three years, the company hopes for a balanced portfolio with a 50:50 mix between home and office furniture.