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For three years in a row, the online custom furniture platform WoodenStreet has continued on its path of sustained growth, registering over a 100% YoY increase in its revenue for the fourth year, 2018. Keeping a tight control on finances, WoodenStreet aims to expand its reach with even more stores in the future.
Sustainability is the Key
WoodenStreet’s profitable success boils down to its unique model which cuts down the burn, coupled with its low-cost marketing techniques. This form of saving has helped in launching new experience stores to expand the company to new horizons while maintaining its momentum in the market.
“Thanks to the opening of 9 more experience stores”, says the company CEO Mr. Lokendra Ranawat, “we have reached our goal of 12 stores in 2018. Experience Stores have doubled the revenue each year. Now, we aim to open 25 more stores by the next year, and 50 stores in the next four years.”
WoodenStreet’s Experience Stores allow customers to touch and feel the beauty and quality of solid-wood furniture and also consult professional designers for their interior designing requirements.
Customization at the Core:
WoodenStreet’s USP has been a game changer in the market, providing its customers with the freedom to customize their furniture as per their needs. This makes it flexible for everyone to own furniture which is designed to reflect their tastes and to serve them better.
An Omnichannel Approach:
Opening new Experience Stores has been the core of expansion for WoodenStreet. The greater the number, the easy it becomes for everyone to shop for furniture. With 12 Experience Stores already established, people get access to the same level of quality through brick-and-mortar stores that WoodenStreet provides online.
Leading with Technology:
At every step, WoodenStreet leads a technologically rich system, from manufacturing through automated machines and providing an easy-to-access User Interface, 3D designs, product videos and a centralized communication across all its stores and offices.
A Message from the CEO
Mr. Lokendra Ranawat has been engaged deeply to build WoodenStreet from the ground up. In his mind, the clear picture of providing individuals with the opportunity to customize their furniture has finally come to fruition.
He says, “Our goal was to make it easy for people to decide the kind of furniture they need. India, being a diverse nation, is home to people who vary in every aspect, and a single type of furniture does not fit everyone’s lifestyle and personality. With WoodenStreet’s online presence and brick-and-mortar stores, we are providing people the power to not only visualize and feel a different breed of furniture, but also customize it as per their needs. And we have just begun this monumental climb.”
For now, WoodenStreet is looking forward to open more Experience Stores across India, and increase its reach with more delivery hubs, so that the customization and quality solid-wood furniture becomes accessible to everyone.