Stanley Lifestyles, manufacturer of premium furniture and home décor products, recently announced its foray into complete luxury home interior solutions and personal accessories through Stanley Level Next, its new flagship premium lifestyle store launched in Bangalore. Over the next two years, the company is planning to open five more Stanley Level Next new-gen retail outlets with an investment of Rs 20 Crs and expand its omni-channel mid-segment furniture outlets - ‘Sofas & More’, from 7 to 50 stores with an investment of Rs 50 Crs. Company is also Preparing for a global foray and plans for an IPO by FY 2024 and targeting a revenue of Rs 650 Crs.
As per announcement made from company, Stanley plans to expand its 3.5 Lakh sq. ft. state-of-the-art manufacturing facility in Bangalore, with an additional 2 Lakh sq. ft. to meet the growing demand and looks to increase its employee base from 1200 to 5000 in the next five years. The company has commissioned two new factories in 2019, one for kitchen and wardrobes and the other for premium mattress and bedding, with an investment of Rs 15 Crs.
Present across 20 exclusive stores and 30 sales points in 10 Indian cities, which include Delhi, Mumbai, Gurgaon, Hyderabad, Bangalore, Chennai, Kolkata, Kochi, and with plans to grow, Stanley group aims to achieve Rs 700 Crs by FY 25 from its current sales of Rs 360 Crs.
Mr. Sunil Suresh, Founder Chairman and MD, Stanley Group said, “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 customised to suit Indian lifestyle and living conditions.”