Godrej & Boyce launches 'One Godrej', expects CAGR growth of 25% in three years

To further strengthen its presence in the home solutions space, Godrej & Boyce has launched its new offering called ‘One Godrej’ as part of its U&Us section. The company hopes to achieve a total turnover of Rs 1,000 crore by 2025 with this new concept.

These ‘One Godrej’ centres will allow consumers to experience the entire gamut of home solutions from the brand from a single source.

The company plans to invest Rs 50 crore towards this innovation and business strategy over the next three years and will go for a 360-degree marketing plan to reach consumers.

Nyrika Holkar

Nyrika Holkar, Executive Director, Godrej & Boyce, announced the innovation and business strategy on February 27. “With continued customer focus and innovation, we expect a CAGR of 25% from One Godrej over the next three years,” said Holkar.

The newly introduced retail concept, ‘One Godrej’, is an ideal platform to establish a dialogue with today’s consumer and showcase unique offerings that are customised and integrated into an overall home interiors plan offered by a team of expert interior designers and project managers at U&Us.

The company through this new segment plans to strengthen its reach in 20 key markets in India with an expanded network of 50 centres by 2025. Of these, seven large format One Godrej experience centres will be operational across seven markets in FY2020.

U&Us has invested over Rs 10 crore in technology to enhance customer experience as part of its innovation strategy.

Speaking on revenue growth, Anil Mathur, COO and Business Head, Interio Division, said, “We are expecting U&Us to achieve a total turnover of Rs 1,000 crore by 2025 with this new business format.”

On the challenges in the furniture sector, Mathur said, “The challenge is to get the accuracies right while designing the product, because the civil construction is not always ready to redesign these re-dimensions. Training of designers and carpenters at the backend is other big challenge; the backend is used to work in a particular manner but reskilling them and bringing them to a level, where the skill sets required are different for power tools and machines, are difficult.”

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