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Business EconomyPosted at: Feb 27 2020 10:06PM


Stanley aims to achieve Rs 650 crore revenue in the next five years

Bengaluru, Feb 27(UNI) The Stanley, India’s leading luxury furniture and home decor brand, is preparing for a global foray and targeting a revenue of Rs 650 crore in the next five years, Founder Chairman and MD, the Stanley group Sunil Suresh informed here on Thursday.
Addressing a press conference here, he said that ''We compete with international brands and are known for our high quality standards and craftsmanship and proudly position ourselves in high-end home and lifestyle business''.

Stating that Stanley, is committed to the ''Make In India'' initiative, he further said that we have plans to extend the state-of-the-art manufacturing located in Bengaluru with an additional two lakh sq ft to meet the growing demand and said that we look forward to increase the employee base from 1200 to over 5000 in the next five years.

He stated that the company, which is India’s first manufacturing retail home furnishing brand, is a global vendor to IKEA and La-Z-Boy and caters to the automobile manufacturers in India, including Tata, Toyota, Ford, Mahindra and Mahindra, Renault, and also aviation companies, including Boeing.

He further stated that the Stanley, is a 'A' rated debt free company with adequate cash reserves and has successfully raised growth capital fund with a company valuation of USD 125 million.

Outlining the expansion plans of the company, he revealed that ''the company plans to open five more Stanley Level Next new-gen retail outlets with an investment of Rs 20 crore and expand the omni-channel mid-segment furniture outlets from 7 to 50 outlets, across the country''.

He further revealed that presently the Stanley has over 20 exclusive stores and 30 sales points in ten Indian cities including Delhi, Hyderabad, Mumbai, Guragaon, Hyderabad, Bengaluru, Chennai and others.

''We gave set a target to achieve a sales turnover of Rs 700 crores by 2025 from the present volume of over Rs 360 crores'', he added.
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