The funds will be utilised for building infrastructure, brand-building and customer acquisition
Livspace.com, Indian home interiors and renovation platform, announced the expansion of its services to Hyderabad. A sum of Rs 20 crore has been earmarked for the expansion in the city and the funds will be utilised towards infrastructure, brand building, and customer acquisition.
To serve its newest city, Livspace plans to open multiple design centres and experience apartments spread across areas such as Jubilee Hills, HITEC city, Gachibowli, etc. The large-format design centre will feature the company’s signature home-in-store experience. It will include assorted designs for all rooms, a dedicated virtual reality zone, 50,000+ materials to choose from, and an office space for design-partners. This is in tune with Livspace flagship centres in Bangalore, Delhi, Gurgaon, and Mumbai that were inaugurated a year ago. A portion of the investment is also dedicated to small-format design centres, which will focus on the company’s modular offering. Furthermore, a network of experience apartments across Hyderabad will allow customers to view a fully designed Livspace homes.
As part of its pilot in the city, the company on-boarded 50 design-partners and also completed several projects, the first being a 4500 sq. ft villa located on the outskirts. To fuel growth, Livspace aims to appoint an additional 500 design-partners within the next 12 months, and reach 2-2.5 lakh homeowners in Hyderabad.
Ramakant Sharma, Co-founder and COO of Livspace said, “We are excited about bringing a hassle-free, end-to-end home design experience to Hyderabad. It is one of the fastest growing cities and the people are well versed with global interior trends. We are positive that Hyderabad will be a very strong market for us and we will move one step closer to our goal of designing one in every 10 homes in India by 2022. Next, we are looking towards cities such as Chennai and Pune.”
Lakshminarayan B, General Manager Livspace Hyderabad, added, “In Hyderabad, homeowners have been very perceptive of the superior quality of design, products, and experience offered by Livspace. We have received great feedback thus far, especially for our modular range—some believe it’s the best product in the market at a great price point. Currently, we are catering to a wide variety of projects—budget homes with minimum interior requirements to luxury villas, with order values ranging from anywhere between INR 5 lakhs to INR 50 lakhs”.
Hyderabad marks the seventh operational city for Livspace. Debuting in Bengaluru, Livspace expanded to Mumbai, Thane, Delhi, Gurgaon, and Noida in less than 24 months since its launch.
Source: BW Disrupt