Home renovation platform Livspace plans $50 mn biz expansion

21 Sep 2021 CW Team

Livspace, a home interior and renovation platform, has announced plans to invest $50 million in developing its business across 80 markets, including 60 new market entries in India and 20 cities in the Asia Pacific, the company said in a press release.

Over the next 18 months, Livspace, which claims to have a 65% market share in the organised home interiors sector, plans to open 150 Design Experience Centres (ECs).

The company aims to capture demand for modular solutions in markets such as Indore, Surat, Lucknow, and Mysore, among others, during this phase of expansion.

It currently has over 25 locations in metros and non-metro areas such as Delhi-NCR, Bengaluru, Mumbai, Ahmedabad, Jaipur, Kochi, and others.

Livspace will also look to onboard over 1,000 new design entrepreneurs across the country to help support its expansion plans.

Livspace is a Singapore-based firm that specialises in home interior design and renovation. It works in Singapore and India on interior design and renovation projects. Anuj Srivastava and Ramakant Sharma founded the company in 2014, and it has since raised $200 million in funding.

It has 22 Experience Centres across India, the largest of which is in Marathahalli, Bangalore, and is 23,000 sq ft.

The company launched its own brand of modular kitchens and wardrobes in December 2015 and began offering services in Bengaluru, New Delhi, and Mumbai. Livspace announced its design partner community programme and launched its home design automation platform for interior designers in 2016. Later, the company opened four virtual reality-enabled design stores in Bengaluru, Delhi, Gurugram, and Mumbai. Livspace announced in 2018 that it would be expanding its services to Hyderabad.

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