Godrej & Boyce targets Rs 320 crore by FY21 for its new premium furniture brand Script
After tasting success with Interio, Godrej & Boyce now went ahead and launched a new premium furniture brand for contemporary living called Script. Starting with Bangalore this month, the company plans to take the brand to Mumbai and Delhi this fiscal year and is eyeing Rs 320 crore by FY21. It is looking to launch 18 stores across five cities.
On how itâs different from Interio Anil Mathur, COO Godrej & Boyce and Rajat Mathur, Business Head Script, pointed out that the latter is mainline while Script is more on the experiential level offering personalisation. They insist that both are distinct entities with separate stores and websites.
Rajat Mathur mentioned that Script will also offer accessories in categories like rugs, bed linens, lamps and kitchenwear among others. He explains, âScript is a new perspective on furniture and accessory design that is inspired by contemporary living. Currently there is a limited number of national and international branded furniture players in the market. In addition, there is also a vacuum in the attainable premium segment in furniture retail. With Script we see a huge opportunity to bridge this gap. Backed by a very strong design and R&D team, Script promises to offer our consumers the freedom of living. We will start looking at accessories going online in some of the good online environments because consumer behaviour around online buying will support that.
Godrej is investing around Rs 150 crores in the next three years on Script. It has set a marketing budget of Rs 25-30 crores with more emphasis on digital. Rajat explains âWe will be marketing through offline and online media. Online is going to be our main channel because thatâs what our TG consumes. Percentile reference in terms of frequency of campaigns is 70:30. We will be using digital in a very big way.â
For Anil Mathur the brand is premium and niche. He explains, âWe have always believed in going beyond the mundane and therefore consistently provided extraordinarily innovative products to our customers. Script is an earnest endeavour in the same direction. It doesnât merely attempt to satisfy customers but delight them through finest design features. The brand is premium and niche but endeavours to reach the mass market wherein aspiration for cutting-edge products exists but prevailing range remains nonexistent.â
Jamshyd Godrej, MD & Chairman Godrej & Boyce said, âGodrej has always been celebrated for offering innovations that use cutting edge technology and best in class manufacturing methods with a purpose of providing a great experience to our consumers. Script is a brand that strengthens our commitment to the latter. It is also the first brand from the house of Godrej & Boyce, which establishes Godrej in the attainable premium furniture category. Backed by a strong supply chain infrastructure owing to our existing leadership presence i
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