51 Housefull stores in coming half decade: mission of Housefull International
Housefull International launched Housefull, a home improvement store. The organization claims that it is the first retail chain store in the nation, which will be the ultimate service destination for common clients alongside professionals. Its Its services include building materials, customized furniture and furnishing material.
Housefull International is planning to open 51 more Housefull stores across the country in coming 5 years. CEO and president of Housefull International, Arif Sheik mentioned that 9 of those 51 stores will be propelled before the end of current financial year. These stores will be covering more than 3.6 lakh square feet region.
The organization will be putting Rs 320 crore in this chain store business and will be bringing a turnover between Rs 2000 and 2500 crore after a large portion of 10 years. The first Housefull store will be gracing Pune within a week, followed by Surat.
The Managing Director of Housefull International, Sumit Shah is hopeful that the organization will reach up to Rs 350 crore with regards to the turnover in coming 2 years. He additionally told the media that the initial investments have been done through internal collections worth Rs 150 crore. After accomplishing the objective of Rs 350 crore, the organization might likewise take a look at Initial Public Offering or project financing for further investments.
The organization will be focusing on the urban areas with particular spending power and cities with upcoming projects. Sheik clarified that how the organization would go anti clock wise on map of India while building up the retail chain stores. Beginning with West and taking after South and East, Housefull will reach the North in approaching half a decade.
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