Livspace, a home interiors and renovation platform, will foray into four new cities, including Kolkata, Ahmedabad, Jaipur, Kochi, offering its high-demand modular solutions in the new markets. Further, to help homeowners experience, personalize and purchase these solutions, the company simultaneously opened Experience Centres (ECs) spanning 1500-sq.ft each in prime locations in all four cities.
As per internal estimates of Livspace, the modular solutions market in the four cities is valued at around $500 million. By tapping into this large opportunity, Livspace expects these new markets to contribute to over 10% of its overall revenue in the next two years. As Livspace is the first organised player in its segment to enter Jaipur, Ahmedabad, and Kochi, the company is focused on establishing itself firmly in the minds of consumers as well as its ecosystem partners that include designers, contractors, and vendors.
In addition to this, Livspace is on a rapid expansion path in both India and APAC region. In India, the company plans to be present in 30 Indian cities including markets like Mysore, Lucknow, Mangalore, and Surat in the next 12-18 months. The market entries will be accompanied by an expansion of its retail footprint as well through tens of Experience Centres (ECs) owned by franchisees. In the APAC region, Livspace is deeply evaluating markets like Australia, Malaysia, and Indonesia.
In the coming year, over 500 design entrepreneurs from its new markets can expect to join the Livspace ecosystem that currently boasts over 5000 members, making it one of the largest in the country.