The company is making an investment of up to Rs 40 crore for growing business in the two cities.
Livspace.com, home interiors and renovation platform, is expanding its operations to Chennai and Pune. The company is making an investment of up to Rs 40 crore for growing business in the two cities.
The amount will be used for customer acquisition through brand building, opening Livspace Design Centers and growing the designer and seller community. By expanding in these two cities, Livspace in now operational in nine cities such as Bengaluru, Mumbai, Thane, Delhi, Gurgaon, Noida and Hyderabad
Ramakant Sharma, Co-founder and COO, Livspace, said, "Chennai and Pune each present a $1 billion opportunity for our solutions, where we estimate that customers will spend Rs 5 lakh to Rs 30 lakh per home. In Hyderabad, where we launched operations in August, we have nearly 100 bookings that will be completed by December end. We are confident of closing 100 homes each in Chennai and Pune by March 2019."
Livspace is planning to have a strong presence in 13 metros by the end of 2019. It also aims to achieve profitability in Chennai and Pune in the next 24-36 months.