Further Expansion plan for Indian furniture chain Stanley Lifestyles
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Premium furniture and home-decor manufacturer Stanley Lifestyles in India has launched a new flagship in Bangalore as part of its extensive expansion plans for the region.
The brand is preparing to build a network of 55 new retail outlets in the territory, at an investment of US$9.6 million. The new stores will include five high-end Stanley Level Next-branded outlets and 50 mid-range Sofas & More stores in the territory, targeting revenues of $89.7 million.
“We compete with international brands and are known for our high-quality standards & craftsmanship and proudly position ourselves in high-end home and lifestyle business,” said Stanley Group founder, chairman, and MD Sunil Suresh. “As India’s very own luxury brand, we strive to exceed the expectations of the discerning Indian consumers, and design and develop modern offerings with an international touch that are customized to suit Indian lifestyle and living conditions.”
Stanley Lifestyles in India moved to build two new factories last year, one for kitchen and wardrobes and the other for premium mattresses and bedding. It is the first manufacturer/retailer for home furnishing in India, and sells internationally to Ikea, La-Z-Boy, and many car and aviation manufacturers as well as hospitality groups.
Questions & Answers
Q.What is the total planned investment for Stanley Lifestyles' new retail outlets?
What is the total planned investment for Stanley Lifestyles' new retail outlets?
Stanley Lifestyles plans to invest US$9.6 million into building its network of 55 new retail outlets across the territory. This investment supports both high-end and mid-range store concepts.
Q.Which types of new stores will Stanley Lifestyles be opening?
Which types of new stores will Stanley Lifestyles be opening?
The company will open five high-end Stanley Level Next-branded outlets and 50 mid-range Sofas & More stores. This expansion targets different segments of the furniture market.
Q.What kind of factories did Stanley Lifestyles build last year?
What kind of factories did Stanley Lifestyles build last year?
Last year, Stanley Lifestyles built two new factories: one for kitchen and wardrobes, and another for premium mattresses and bedding. This expanded their manufacturing capabilities.
Q.Does Stanley Lifestyles only sell within India?
Does Stanley Lifestyles only sell within India?
No, Stanley Lifestyles also sells internationally to companies such as Ikea, La-Z-Boy, car and aviation manufacturers, and various hospitality groups, indicating a broader market reach.
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