Online home décor and designing platform LivSpace is the latest among the big boys of the e-commerce to jump onto the omnichannel bandwagon after its five-year online stint.
LivSpace to invest ₹25 crore in strengthening its brick and mortar presence, a move that is likely to help the company expand its customer base and increase revenue.
LivSpace, which currently operates 15 experience centers in Delhi, Bengaluru, and Mumbai, aims to establish 25 experience centers and apartments over the next 12-18 months., the company said in a statement on Wednesday. The company aims at generating Rs4-6 crore in annual sales from each of these centers.
LivSpace founder Anuj Srivastava said,
“We are earmarking a sum of Rs 25 crore towards building the experience centers and will go up as needed depending upon the growth requirements. Our design centres allow consumers to select one of the pre-designed looks on our website, customise them from our library of over 10,000 finishes, see the various looks in our design centers, get a virtual reality experience, and, do all this seamlessly between our website and physical locations.”
LivSpace’s heavy investment in building an offline channel to support a business that depends on touch-and-feel comes at a time when players in the online homeware and furniture industry have been looking at strategies to recuperate a 15-20% dip in annual sales growth in the sector, as per industry estimates.