Godrej is developing products by understanding people’s gestures in Brainlab: Furniture business is expected to reach 27% annual growth

Godrej Enterprises Group’s home and office furniture brand Interio is now expanding in tier-2 cities. We spoke to the company’s senior vice president and consumer head Dev Narayan Sarkar about this. Read his full interview…

1. Does the company design the same products for the whole world or are they region-wise?

We make our products keeping the region in mind. The same kind of products cannot be sold all over the world. We understand the preferences of the region. For example, people in Kerala like rubberwood furniture, so we make the same furniture for them. This furniture will be available only in Kerala.

People in Punjab like furniture with big headboards and lights. People in Rajasthan like carved solid wood furniture. In Nagaland, every house has a mosquito net, so furniture is made accordingly. Furniture has been made for the people of Madhya Pradesh on the same basis.

2. How does the company do research and development to make its new products?

XLRI has set up a brain lab. In this, different furniture is shown to the people. By analyzing the heart rate and eyes, it is understood how they liked these things in the first impression. If people speak after thinking, their choice may be different, so this research is based on first impression. The company is going to launch its new product on the basis of this research.

3. Do people prefer to buy furniture from unorganized market because it is cheaper?

Consumer trend is now shifting towards organized market. Its quality is good. This furniture is made through robotic process, so there is consistency in quality. The type of paint and coating used does not have a bad effect on health. Dev Narayan claimed that no local vendor can provide furniture of this quality at this price.

4. What is the revenue of the company, at what speed can it grow in the coming time?

This entire industry is worth Rs 1.40 lakh crore. The revenue of the organized sector is Rs 8 thousand crore. At the same time, our revenue is close to Rs 3,200 crore. Right now we are growing at 25% CAGR. In the next two years, many of our products are going to be launched, due to which we will reach a growth of 27%. Our growth is directly proportional to real estate growth.