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Stanley Lifestyles to Invest Rs.70 Crore for Launching 55 new retail outlets

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Stanley Lifestyles to Invest Rs.70 Crore for Launching 55 new retail outlets

CEO Insights team , Press Release

Stanley Lifestyles, manufacturers of premium furniture & home décor products, announces its foray into complete luxury home interior solutions & personal accessories through Stanley Level Next, its new flagship premium lifestyle store in Bangalore. Over the next two years, the company plans to open five more Stanley Level Next new-gen retail outlets with an investment of Rs.20 crore and expand its Omni-channel mid-segment furniture outlets - ‘Sofas & More’, from seven to 50 stores with an investment of Rs.50 crore. Preparing for a global foray & planning for an IPO by fiscal year 2024, the company is targeting revenue of Rs.650 Crore.

Committed to the ‘Make in India’ initiative, Stanley plans to expand its 3.5 lakh sq. ft. state-of-the-art manufacturing facility in Bangalore, with an additional two lakh sq. ft. to meet the growing demand & looks to increase its employee base from 1200 to 5000 in the next five years. Moreover, the company has commissioned two new factories in 2019, one for kitchen & wardrobes, and the other for premium mattress & bedding, with an investment of Rs.15 crore.

Present across 20 exclusive stores and 30 sales points in 10 Indian cities, including Delhi, Mumbai, Gurgaon, Hyderabad, Bangalore, Chennai, Kolkata, and Kochi, Stanley group aims to achieve Rs.700 crore by fiscal year 2025 from its current sales worth Rs.360 crore.

We compete with international brands and are known for our high-quality standards & craftsmanship and proudly position ourselves in high-end home & lifestyle business



The company, which is India’s first manufacturing-retail home furnishing brand, is a global vendor to IKEA & La-Z-Boy and caters to the automobile manufacturers in India such as Tata, Toyota, Ford, Mahindra & Mahindra, Renault; aviation manufacturers such as Boeing; and hospitality customers like Taj Hotels, Intercontinental Hotel Group, Starwood, among others.

Commenting on this development, Sunil Suresh, Founder Chairman & MD, Stanley Group, who is committed to make Stanley a truly global Indian company, says, “We compete with international brands and are known for our high-quality standards & craftsmanship and proudly position ourselves in high-end home & lifestyle business. As India’s very own luxury brand, we strive to exceed the expectations of the discerning Indian consumers, and design and develop modern offerings with an International touch that are customized to suit Indian lifestyle and living conditions.” “Our rich legacy of upholstering for top OEMs and our award-winning OEM divisions has served some of the most iconic global brands. We have set up a cabinetry manufacturing unit with German know-how, to design and manufacture kitchens, wardrobes and storage units. We have also commissioned a prestigious design team to helm our collection of bespoke footwear and personal accessories,” he concludes.
Source : Press Release

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