Godrej and Boyce Mfg. Co. Ltd has recently acquired 51% stake in home decor and accessories online portal India Circus Retail Pvt. Ltd.
The firm hopes to buttress its online presence while India Circus will also get an offline channel of sales as its products will now be available at the 50 company-owned and 200 franchise outlets of Godrej.
With this collaboration, India Circus hopes its market revenue to grow by 500% over the next two years and will close fiscal 2016 with revenue of Rs 20 crore. However, India Circus will retain its brand name and identity and will not be merged with Godrej Interio.
The Godrej Group plans to retain the India Circus brand and is also in the process of launching its own web presence that will showcase the entire range of products available across the different group companies shortly.
Godrej & Boyce Mfg. Co. Ltd, the holding company of the Godrej Group, started its journey with the manufacture of high quality locks in 1897. Today, it has 15 diverse business divisions offering consumer, office, and industrial products and services of the highest quality to every corner of India and across the globe.