Stanley Lifestyles plans to launch 55 retail outlets with an investment of Rs 70 Crs and targets an IPO
Kolkata/IBNS: Stanley Lifestyles, the maker of premium furniture and home décor products, has 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 plans 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.
Preparing for a global foray and plans for an IPO by FY 24, the company is targeting a revenue of Rs 650 Crs.
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.
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.Stanley is an ‘A’ rated debt free company, with adequate cash reserves and has successfully raised growth capital fund with a company valuation of USD 125 million.
On his quest to make Stanley a truly global Indian company, 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.”
“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 further added.
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