Hyderabads e retailer customfurnish.com plans for expansion

Q: Hello. Does anybody have an idea about the expansion of the e retail company customfurnish in the city? I heard they are planning to start a new unit in the city.

Verma, Hyderabad

6th March 2015

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Replies (3)

They have a seed round of Rs 16 crore from six individual investors and a loan of Rs 3 crore from Small Industries Development Bank of India ( SIDBI), Customfurnish.com will enter Bangalore and Chennai markets in the next two to three months. To fund its expansion plans pan-India, they have started discussions to raise Rs 100 crore in a subsequent round from institutional investors.

Vineet raj, Hyderabad

8th March 2015

Comment

They are also targetting the North market in six months by setting up a factory in Delhi at an average cost of Rs 2-2.5 crore. The company proposes to add 10 such units by end of 2016. Small homes and offices will be the chief clients for the company's customised offering, with addition of furnishings category.

Ramesh Hegde, Hyderabad

7th March 2015

Comment

Yeah, they currently have a 30,000 sq ft automated factory in Hyderabad and will add a larger unit of 60,000 sq ft to serve the Southern market at an investment of Rs 5 crore. this retailer work on furniture design, customization and manufacturing services on a single platform.

Ramakrishna, Hyderabad

6th March 2015

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