In line with its core philosophy of providing freedom and flexibility to its customers, Furlenco, India’s leading furniture and lifestyle brand is now evolving to expand its basket of access, where consumers can now also buy brand new furniture with the option to sell back. With the latest addition, Furlenco aims to become India’s largest furniture and lifestyle brand by 2024.
This latest offering provides customers with the freedom of choice, where they can choose which furniture they want; access it the way they want (rent existing or buy brand new furniture) and change it as and when needed by returning or selling it back to Furlenco.
This basket of access will enable Furlenco to increase its annual revenue run rate by 2.5X by June 2023. Also in the last year Furlenco had doubled its Annualised Revenue Run rate (ARR) from ₹100cr to an ARR of ₹200cr.
Furlenco aims to add 500+ products and 250 + designs to its arsenal over the next 12 months.
Speaking on the new offering, Ajith Mohan Karimpana, Founder and CEO, House of Kieraya (HoK) and Furlenco commented, “Furlenco has been a pioneer in the rental industry for a decade now and rental is our core proposition. However, we have also seen that there are individuals who want to own products but don’t want to be stuck with them. So what we decided to do is, sell brand new furniture but with the unique proposition where customers can sell it back to us.”
He further added, “And today after carving a niche in the D2C furniture industry and establishing a world-class refurbishment centre, we are ready to expand our basket of access to our consumers. This will make Furlenco the preferred choice of customers across age groups and life stages. We want to touch the lives of 1 million households by the end of 2024. ”
By early 2023, Furlenco plans to launch a first-of-its-kind unified storefront to offer their basket of access across urban India. Their product catalogue consists of all home and lifestyle products for living room, dining room, bedrooms, study and storage. Rental packages start at Rs.999 per month and brand new designer furniture is available for buying starting at Rs.5999. Customers can currently access the latest offerings on furlenco.com and its microsite store.furlenco.com.