Furniture has immovably moored on the online market representing 12% of US online sales in the year 2019, as per Statista statistics. Furniture is the sort of procurement clients view in a serious way. When in doubt, they completely analyze things, think about contributions from various brands, and include a few leaders to pick the most appropriate one.
HomeTown is a company that is performing great in the furniture sector around India. HomeTown is an internet-based website that sells home furniture and outfitting items and accomplices to private and business areas.
So in this article, you gonna get the case study of HomeTown furniture store.
|Parent Company||Future Group|
|Founders||Mehul Agrawal, Vaibhav Aggarwal, Vikram Chopra|
|Headquarters||Kanjurmarg East, Mumbai|
HomeTown Business Model
HomeTown is an e-commerce platform for furniture and home furniture stylistic layout items. The organization conveys and introduces every one of the items it offers giving start to finish furniture solutions for its clients.
However, not at all like its rivals which work as commercial centers, HomeTown possesses processes to start to finish, which implies they control everything from the choice of wood and planning the furniture to the delivery of the items.
After the year 2012, there are many startups that were brought into the world with a similar target of being the number one internet-based commercial center for Homestyle and furniture. In January 2012, Pepperfry began its activity following Fab Furnish and Urban Ladder. Today Pepperfry and Urban Ladder are the leaders in the race and HomeTown is giving a tough competition to them.
HomeTown revenue from sales was over INR 48 crore in Q1 FY22, contrasted with INR 24 crore in Q1 of FY21 and ₹162 crores in Q1 of the financial year 2020. The company’s losses also have diminished.
To pipe its momentary burdens, Shah said that HomeTown may raise up to 50 crores in the following, not many months.
HomeTown funding information is not available currently.
Future Group’s furniture and home stylistic décor firm, HomeTown is on a development binge. The corporate store which has a turnover of INR 800 crore expects to cross a turnover of INR 1,100 crore by one year from now, said a high-ranking representative.
It is set to add 100 stores over the course of the following 3 years.
Addressing Business Line, Mahesh Shah, MD, HomeTown said that “Post the Covid-19-prompted slump last year, the organization is presently seeing a vertical pattern in its incomes. Thus, the organization has now been zeroing in on its extension plans.”
HomeTown at present obliges more than 1,200 pin codes across India and it intends to add another 300 pin codes in the following three months. For this, the organization is reinforcing its backend dissemination framework and restricting with different warehousing accomplices to meet this objective.
— HomeTown (@HomeTown_In) November 14, 2019
About six online business organizations, including Flipkart and Amazon, have entered the market in the new past. HomeTown has 42 stores as of now and plans to add eight by year’s end. The organization said the normal ticket size at HomeTown is about INR 44,000, which isn’t effectively coordinated at online portals.
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