Furniture renting startup Furlenco on Wednesday (September 6) said it is taking the omnichannel approach for growth and has launched two offline stores in Bengaluru as part of this strategy.
Founded in 2012 by Ajith Mohan Karimpana, Furlenco operates an online subscription-based furniture rental platform in Bengaluru, Mumbai, Delhi NCR, among others. It also sells furniture through its marketplace.
The startup said its offline stores would offer customers the opportunity to experience the products and make informed purchase decisions. Like its app and website, Furlenco’s offline stores will offer both buying and renting options.
“While the online platform has been instrumental in building our brand, we understand the value of offline touchpoints. As Furlenco expands its horizons beyond the confines of a furniture rental brand, we are committed to seize the untapped potential of offline opportunities to scale our operations and propel growth,” Furlenco founder and CEO Karimpana said.
Calling the launch of the stores just a beginning of the startup’s offline expansion plans, the CEO said Furlenco aims to enhance the customer experience and cater to their diverse buying habits via these stores. Going ahead, the startup aims to open offline stores across major Indian cities.
The stores will have a material library displaying physical material swatches, miniature furniture designs, furniture joinery, and finished products.
The development comes months after mattress brand Sleepwell’s parent Sheela Foam announced acquisition of a 35% stake in Furlenco’s parent House of Kieraya for INR 300 Cr.
In FY22, Furlenco’s net loss rose 71% to INR 149 Cr, while operating revenue surged 1.5X to INR 129 Cr.
Amid mounting losses, Furlenco laid off about 180 employees last year as part of a cost-cutting exercise to attain profitability.
Furlenco competes with the likes of Rentomojo, Pepperfry, and Urban Ladder. On Tuesday, Pepperfry said it has raised $23 Mn from existing investors, including institutional investors and family offices.
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