Spacewood Furnishers, a leading name in modular furniture solutions, has unveiled its strategic growth plan to achieve a revenue milestone of Rs 1,500 crore by 2029. With a strong recovery post-fire and a turnover of Rs 525 crore for fiscal year 2023-24, Spacewood has maintained an impressive year-on-year growth rate of 18-20%. The company now aims to bolster its presence in metro, Tier 2, and Tier 3 cities, while transitioning towards a B2C model and expanding its dealer network and Exclusive Brand Outlets (EBO)
Founded in 1996, Spacewood has evolved into one of India’s most recognized furniture manufacturers, known for its premium Modular Furniture, Home Furniture, Pre-Hung Doors, Desking, and Institutional Solutions. The company has built a strong market presence since inception, as a key partner for leading retail brands like Pepperfry, Amazon, and Flipkart. Now, Spacewood is gearing up for its next phase of growth, focusing on providing accessible, high-quality modular furniture solutions across India.
Spacewood plans to further accelerate its presence in Tier 2 and Tier 3 cities, enhancing its dealer network from 650 to 1,000 in the next 3-4 years, and expanding its Exclusive Brand Outlets (EB0) from 34 to 75 within the same period, with a long-term goal of reaching 100 outlets by 2029. These outlets will provide customers with immersive experiences of Spacewood’s premium offerings, aligning with their vision of offering consumer-centric, premium, and accessible furniture solutions for homes, offices, and institutional spaces.
With a growth target of Rs 1,000 crore in the next three years and Rs 1,500 crore by 2029, Spacewood is positioned to lead the modular furniture industry in India. Its strategic focus includes a B2C transition while maintaining leadership in the B2B segment, continuing to offer innovative solutions for residential, commercial, and institutional spaces. As the company plans for a 20-30% growth rate over the next 3-5 years, Spacewood remains committed to its vision of providing high-quality, ‘Made in India’ furniture that blends aesthetics, durability, and functionality.
