Home interiors and renovation platform Livspace.com Wednesday announced its entry into Chennai and Pune, earmarking an investment of Rs 40 crore for growing business in the two cities.
The funds will be used for customer acquisitionthrough brand building, opening Livspace design centers aswell as growing the designer and seller community, Livspace said.
With this launch, Livspace has expanded to three new major markets just this year, the company said in a release.
It said, the company is on track to establish a strong presence in a total of 13 metro areas by the end of 2019.
"Given the high ASP of home interiors, homeowners in these cities value a brand they can trust. Hence, we see a great product-market fit," Livspace.com Co-founder and COO Ramakant Sharma said.
Livspace said, Chennai and Pune mark the eighth and ninth operational cities for the company.
Debuting in Bengaluru in 2015, Livspace expanded to Mumbai, Thane, Delhi, Gurgaon, and Noida in less than 24 months of its launch, it said adding, that the company launched its services in Hyderabad in July with an investment of about Rs 20 crore.