Expansion plan for furniture chain Stanley Lifestyles in India
Premium furniture and home-decor manufacturer Stanley Lifestyles in India has launched a new flagship in Bangalore as part of its extensive expansion plans for the region.
The brand is preparing to build a network of 55 new retail outlets in the territory, at an investment of US$9.6 million. The new stores will include five high-end Stanley Level Next-branded outlets and 50 mid-range Sofas & More stores in the territory, targeting revenues of $89.7 million.
“We compete with international brands and are known for our high-quality standards & craftsmanship and proudly position ourselves in high-end home and lifestyle business,” said Stanley Group founder, chairman and MD Sunil Suresh. “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.”
Stanley Lifestyles in India moved to build two new factories last year, one for kitchen and wardrobes and the other for premium mattress and bedding. It is the first manufacturer/retailer for home furnishing in India, and sells internationally to Ikea, La-Z-Boy, and many car and aviation manufacturers as well as hospitality groups.