The home decor start-up, WallMantra has seen its turnover go up from Rs 2 crore to Rs 20 crore since lockdown. It now aims to reach the Rs 100-crore mark by 2025.
Jitesh Agarwal, CEO of WallMantra, said, “When we started WallMantra in 2017, our goal was to give a trendy décor option - wall decal - at an affordable cost. Last year, our revenue touched Rs 18 crore, which is 10-times more than what we normally make. This has encouraged us to aim higher and reset our goals – we are now aiming to become a Rs 100-crore brand in the next three years.”
The plan also includes opening two stores in the NCR region and increasing the number of online sellers on their website.
WallMantra, founded by Jitesh Agarwal, Shivam Agarwal and Kundan Lal, manufactures and sells a collection of wall decals, wall paintings, mirrors, smart furniture, curtains, bedsheets, and other home decor items.
Agarwal, said, “We are currently looking for funding and we require around $2 million (which is around Rs 15-crore).” Early this year, the start-up received its first biggest investment of Rs 1.95 crore from Fluid Ventures, which they will use for marketing, publicity, and hiring people.
The new plans for the e-commerce start-up also include upgrading the numbers of their online sellers and expanding their manufacturing unit. “We already have 50-plus sellers who are live on our website. We want to grow it to 300 sellers in three years,” said the CEO of the home décor brand, adding, “As far as manufacturing goes, we plan to expand from wood and metal stuff to new categories like designer electronics and home automation in the next three years.”
The home décor brand hopes to revolutionise the luxury and lifestyle outlook in the country by venturing into designer electronics and home automation. “We will take luxury items like remote-operated curtains and make them accessible to the middle-class Indians,” said Agarwal. The home automation products will not only mark WallMantra’s entry into IoT (Internet of Things) but lend an edge to their image as a home improvement supplier. The start-up currently has around 2.5 lakh customers and sells over 10,000 products per month.