French multinational company Saint-Gobain has acquired a minority stake in Livspace, a home interiors company.
B Santhanam, CEO of Asia-Pacific of Saint-Gobain told the media that This partnership benefits both companies by allowing them to scale up faster and reach a wider audience. Livspace provides a complementary route to market by promoting Saint-Gobain-branded solutions. In terms of customer behaviour, technology platform, services, and supply chain, we will derive significant synergies and learnings. Livspace, which was founded in 2015, serves approximately 20,000 homes in India each year. The company recently announced plans to invest $50 million in expanding its business across 80 markets, including 60 new market entries in India and 20 cities across the Asia Pacific. Livspace said that over the next 18 months, it also plans to open 150 Design Experience Centres (ECs). The company hopes to capture demand for modular solutions in markets such as Indore, Surat, Lucknow, and Mysore, among others, with this phase of expansion. Over 1,000 new design entrepreneurs will be onboarded by the company across the country. In India, Saint-Gobain India Private Limited - Glass Business formerly Saint-Gobain Glass India Limited manufactures and markets solar control glass, fire-resistant glass, and other types of float glass. Its manufacturing facility is located in Sriperumbudur, about 40 km from Chennai. The float-line business of Sezal Glass, based in Gujarat, India, was acquired by Saint Gobain Glass India in June 2011. The deal was worth around $150 million and adds about 550 tonnes per day to the company's capacity. Image Source
