HomeLane targets Rs 60 crore revenues from Madhya Pradesh markets by FY23, launches first HomeLane Studio in Indore

HomeLane Studio in Indore
HomeLane, India’s leading tech-based Home Interiors company, has developed an aggressive growth plan for its business operations in Madhya Pradesh. It is targeting an annual sales revenue of more than Rs 60 crores by FY23 from the State. The Company has just launched its first HomeLane Studio in Indore and has plans to set-up another 5-6 such HomeLane Studios across Bhopal, Gwalior, Jabalpur and other key regions of the State in the next two years. HomeLane plans to invest more than Rs 10 crores in Madhya Pradesh in setting up these studios and provide required marketing support. The HomeLane Studio in Indore marks the company’s formal foray into Madhya Pradesh.

The studio model is a lite version of HomeLane’s flagship experience centres. HomeLane studio optimises for size and presents a wide range of interior solutions, in addition to their 3D design platform, SpaceCraft, to provide a seamless consumer experience even in non-metro cities. The new studio in Indore is a compact 675 sq.ft square space featuring the essence of traditional Indian homes with a modern and aspirational quality.

Commenting on its newly established business operations in Madhya Pradesh, Srikanth Iyer, Founder & CEO of HomeLane said, “Madhya Pradesh is a strategic market for HomeLane’s next phase of growth. It is part of our focus to establish a strong presence across key Non-Metro markets and the new HomeLane Studio launched in Indore is just the beginning. Our research indicates that Indore’s residents are increasingly looking for contemporary interiors infused with traditional elements like doll crafts, large windows, etc. Through this confluence, we are offering Indore-based homeowners the best of modern concepts combined with affordable prices delivered within 45 days. Over the next two years, we plan to invest more than Rs 10 crore to set up new studios across Madhya Pradesh.”

Reverse migration due to Covid-19 has induced new normal and emerging preference for remote working has pushed up demand for homes across Tier-2 and Tier-3 cities. Moreover, readily available bigger spaces, lower interest rates and enhanced value for money in terms of property prices are inducing consumers to spend more on homes in these markets. Homeowners are also opting for a lifestyle away from the hustle and bustle of metropolitan cities while desiring all major amenities that they were used to. 
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