“The store count is set to go up from 14 to 21 by the end of the current fiscal year, while in the next three to four years, it will increase to 50.” The average size of its large format stores is 16,000 to 20000 square feet, while smaller stores have a size of 7,500 square feet.
The group has employed 750 people for the business, with second-generation entrepreneurs from the family — Manish Parekh, Hiten Parekh and Nayan Parekh leading from the top. The company sources furniture from countries like China and Malaysia and incurs a fixed cost of Rs. 3 crore per store.
The company is focusing on ‘quality assurance’ to enable customers overcome concerns of quality of ready-made furniture.
The organised market for the home furnishings has attracted the interest of other players such as Future Group and Dubai-based Landmark group.