Now Reading: Wakefit plans jumbo stores; furniture top business in three years
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Wakefit plans jumbo stores; furniture top business in three years
Wakefit plans jumbo stores; furniture top business in three years
Wakefit is opening its first jumbo-format furniture store, which co-founder Ankit Garg says will be bigger than Ikea, with a second store to follow in months. The company is investing roughly Rs…
The Story in Brief
Wakefit is opening its first jumbo-format furniture store, which co-founder Ankit Garg says will be bigger than Ikea, with a second store to follow in months. The company is investing roughly Rs 100 crore in each outlet, envisioned as destination experience centres with over 200 curated room setups. Wakefit expects furniture to overtake mattresses as its largest business within three years. The Bengaluru-based retailer reported consolidated revenue of Rs 405 crore in the June quarter, up 16.6% year-on-year, with mattress revenue growing 27.3% and offsetting slower furniture growth.
The Indian Opinion
The claim that Wakefit's jumbo stores will be 'even bigger than Ikea' invites scepticism, Ikea's big-box stores are at least three times the area Wakefit targets. Yet the company is not rushing: two pilot stores, a year of refinement, then two stores a year from 2029. That caution is the real story. The test will not be size but whether these 'Pinterest offline' stores actually convert footfall into furniture sales faster than Wakefit's existing omnichannel model. Watch the revenue share of furniture against mattresses in quarterly results.
Source: livemint.com
This story was synthesised by AI from the source linked above.
