Competition and Industry News
EXPANSION PLANS FOR UPedit
Godrej Interio is all set to strengthen their retail presence in Lucknow and across Uttar Pradesh. Home Storage is predominantly the popular category and growing handsomely in Modular Storages wherein Godrej Interio also has product offerings under the brand, Kreation and Kalista which is growing much faster than the prevailing market rate, said Subodh Mehta its senior vice president.
Publication: Hindustan Times (Online)
Date: June 15 2018
Ad-for-equity investor BCCL backs interior design solutions marketplace HomeLaneedit
Six months after raising $10 million, interior design solutions marketplace HomeLane has struck a $3.5 million (Rs 24 crore) deal with Brand Capital, the ad-for-equity investment arm of media firm Bennett, Coleman and Company Ltd (BCCL). Bengaluru-based HomeLane expects to fuel its expansion and brand-strengthening initiatives through the deal, the company said.
Publication: VC Circle (Online)
Date: June 14, 2018
IKEA promises strong service package, ‘better homes’ for Indiaedit
After launching in Hyderabad, IKEA will move into Mumbai in 2019, followed by Bengaluru and Delhi NCR. Leading Swedish home furnishings retailer IKEA, says it is making a lot of effort to provide good service for India, as it expands its mission to provide a better “life at home” and healthy lifestyle across the world.
Publication: ET Retail (Online)
Date: June 15, 2018
Ikea may buy more land for its Gurugram storeedit
Global furniture giant Ikea is believed to have sought additional land from Huda for the store it plans to open in the city. Sources in Huda said Ikea is interested in a plot of 20.46 acres, more than double the size of the plot that the company had earlier bought.
Publication: Times of India (Online)
Date: June 15, 2018