The retailer plans this expansion over the next two years to enhance its direct-to-consumer network
10Club Homes, a prominent retailer of home products and household accessories, is set to expand its physical retail presence with plans to open approximately 30 new stores over the next two years. This move is part of the brand’s strategy to enhance its direct-to-consumer (D2C) network.
“Almost 75 per cent of the market is in physical retailing and that is why it is important for us to have a robust physical presence. We, however, don’t do the furniture part. By the middle of the next year, we will reach an SKU level of 1,500 and that is a good number to reach,” said Kavitha Rao, Co-Founder, 10Club Homes.
Currently, 10Club Homes offers around 1,000 stock-keeping units (SKUs) covering a range of home-related products, including items for gardens, kitchens, décor, flowers, furnishings and dining. However, the company does not delve into furniture. Rao noted, “By the middle of next year, we will reach an SKU level of 1,500 and that is a good number to reach.”
Rao, who has a background as the Chief Commercial Officer at IKEA India and as a former Managing Director at Accenture, highlighted the distinctiveness of 10Club Homes’ offerings. “IKEA’s designs are too Scandinavian, and 10Club Homes is trying to Indianize its home products. We add a lot of colours to our products that Indians love,” she explained. Additionally, nearly 95 per cent of the company’s products are sourced locally from within India.
Initially selling through Amazon, Flipkart and other online platforms, 10Club Homes launched its own webstore in January. The company opened its first physical store in Forum South Mall in Bengaluru about four months ago. Moving forward, 10Club Homes plans to open 2-3 more stores in Bengaluru in the coming fiscal year and expand to 30 locations across the top 10 Indian cities over the next two years.
With this expansion, the company anticipates that offline stores will contribute to about half of its total sales within the next three years, compared to the current 95 per cent share of online sales.
In 2021, 10Club Homes secured 40 million USD in a significant seed funding round led by Fireside Ventures and other US-based investors.
