Bangalore-based premium leather furniture manufacture company has pnanned its expansion in Europe, Middle East along with India. Stanley Lifestyles Ltd has opened its fourth outlet in Pune today. The company is opening stores in New York, Paris, London and Dubai by 2013.
In India, it will be opened in the cities like Ahmadabad, Ludhiana, Chandigarh and Mumbai. The total investment for this expansion is Rs 20 crore. The company is investing over Rs 35 crore for Europe expansion.
Commenting on this, Sunil Suresh, CEO, Stanley Lifestyle said, “Considering the demand for premium housing projects, we have planned to expand our business in India as well as in Europe and Middle East. For Middle East, we have singed an MoU with a company to open four more stores in Doha Qatar, Jeddah and Dubai. Our 40 per cent business comes from OEMs to which Stanley provides interior solutions for upholstery. Our major customers are Tata Motors, General Motors, Mahindra & Mahindra and Ford.
Suresh told that the company provides solution to customisation of cars for individuals. The company is keen on doing business on franchise basis where it ties up local furniture manufacturers. Most of the stores are running on franchise basis. He added, The car upholstery solution services will be provided to the customers within next here months from the same store and the practice is managed in every store in India.