Godrej & Boyce is set to invest approximately Rs 40 crore over the next three years to expand its distribution network for consumer brands in tier-II and tier-III cities.
The company, known for selling interior solutions, furniture, appliances and locks, aims to double its footprint to more than 400 towns by FY27 with these fresh investments.
According to the news agency PTI, Godrej & Boyce plans to allocate around Rs 10-15 crore annually for store expansion and renovation over the next three years. This move is part of the company’s strategy to achieve a 15-20 per cent year-on-year growth in its topline. The spokesperson emphasised that store expansion would be a key initiative among various strategies to realise this growth target.
When questioned about the nature of expansion activities, the spokesperson clarified that store expansion would be driven by both the company and its channel partners, indicating a combination of company-owned and franchisee-operated stores.
According to the company’s website, Godrej & Boyce reported revenues of Rs 14,796 crore in FY23 and operated in more than ten industries, spanning engineering solutions, consumer appliances manufacturing, furniture, locks and security solutions.
Anil G Verma, the executive director and chief executive, expressed the company’s vision beyond mere expansion, emphasising a commitment to crafting market-specific product portfolios that align with region-specific consumer needs. The company’s strategic approach includes increasing retail presence, fostering customised product innovation and building a robust and sustainable supply chain to tap into market potential.
