Livspace eyes expansion in Middle East, starting with Saudi Arabia
Interiors

Livspace eyes expansion in Middle East, starting with Saudi Arabia

According to a senior corporate official, omnichannel home interior platform Livspace is expanding to the Middle East, starting with Saudi Arabia, where it has created a joint venture with the Alsulaiman Group (ASG).

In the joint venture with ASG, the operational partner of Swedish furnishings retailer Ikea in the area, the business would invest $25 million (Rs 187.5 crore).

According to Sharma, who is also the company's chief operating officer, the company's growth over the next year to year and a half would come from development into new markets abroad, more non-metro and smaller cities inside India, and improved unit economics.

Sharma estimates that the company's current revenue run-rate is roughly $175-180 million, and that it will increase to $300-350 million in the next two years. Currently, the organisation is active in India and Southeast Asian regions such as Singapore.

The firm generated $225 million in new sales during the fiscal year ending March 31, 2020. "Over the next 24 months, we estimate new sales to be approximately $650-700 million," Sharma added.

Livspace claims to be the largest omni-channel home interior and remodelling platform today, having been founded in 2014 by Sharma and Anuj Srivastava. It has provided over 100,000 rooms and has over 7.5 million products for sale on its marketplace.

Livspace has so far garnered more than $200 million in funding from investors such as Ikea's investment arm, Ingka Ventures, TPG Growth, and Goldman Sachs. The Saudi JV intends to invest in outstanding talent at all levels, and by 2022, it hopes to have 500 design and execution partners in the area. Livspace provides interior design, interior design execution, remodelling services, material supply, and home fit-out aspects. Mobile apps, artificial intelligence, machine learning, and visualisation solutions for the home renovation business are also priorities.

Livspace provides interior design, interior design execution, remodelling services, material supply, and home fit-out aspects. Mobile apps, artificial intelligence, machine learning, and visualisation solutions for the home renovation business are also priorities.

Also read
https://www.constructionworld.in/latest-construction-news/real-estate-news/interiors/home-interior-solutions-design-caf-eacute;-raises--25-million-in-funding/31037

According to a senior corporate official, omnichannel home interior platform Livspace is expanding to the Middle East, starting with Saudi Arabia, where it has created a joint venture with the Alsulaiman Group (ASG).In the joint venture with ASG, the operational partner of Swedish furnishings retailer Ikea in the area, the business would invest $25 million (Rs 187.5 crore).According to Sharma, who is also the company's chief operating officer, the company's growth over the next year to year and a half would come from development into new markets abroad, more non-metro and smaller cities inside India, and improved unit economics.Sharma estimates that the company's current revenue run-rate is roughly $175-180 million, and that it will increase to $300-350 million in the next two years. Currently, the organisation is active in India and Southeast Asian regions such as Singapore.The firm generated $225 million in new sales during the fiscal year ending March 31, 2020. Over the next 24 months, we estimate new sales to be approximately $650-700 million, Sharma added.Livspace claims to be the largest omni-channel home interior and remodelling platform today, having been founded in 2014 by Sharma and Anuj Srivastava. It has provided over 100,000 rooms and has over 7.5 million products for sale on its marketplace.Livspace has so far garnered more than $200 million in funding from investors such as Ikea's investment arm, Ingka Ventures, TPG Growth, and Goldman Sachs. The Saudi JV intends to invest in outstanding talent at all levels, and by 2022, it hopes to have 500 design and execution partners in the area. Livspace provides interior design, interior design execution, remodelling services, material supply, and home fit-out aspects. Mobile apps, artificial intelligence, machine learning, and visualisation solutions for the home renovation business are also priorities.Livspace provides interior design, interior design execution, remodelling services, material supply, and home fit-out aspects. Mobile apps, artificial intelligence, machine learning, and visualisation solutions for the home renovation business are also priorities.Also readhttps://www.constructionworld.in/latest-construction-news/real-estate-news/interiors/home-interior-solutions-design-caf-eacute;-raises--25-million-in-funding/31037

Next Story
Infrastructure Transport

JNPA Becomes First Indian Port to Cross 10 Million TEU Capacity

The Jawaharlal Nehru Port Authority (JNPA), located at Uran in Navi Mumbai, has become the first port in India to achieve over 10 million TEUs (twenty-foot equivalent units) in container handling capacity.With the recent expansion, the port now operates five container terminals with a combined capacity of 10.4 million TEUs, alongside two liquid and two general cargo terminals.Handling more than half of India’s container traffic, JNPA processed 7.05 million TEUs in 2024 and has moved 15.39 million tonnes of containers and 16.64 million tonnes of total cargo in the first two months of FY 2025â..

Next Story
Infrastructure Transport

Nod for Rs. 36.26 billion Expansion of Pune Metro Line 2

The Union Cabinet has approved the Rs.36.26 billion expansion of Pune Metro Line 2, adding 12.75 km of track and 13 new stations to improve east–west connectivity across the city.The project aims to link Pune’s urban core with rapidly growing suburbs, supporting the city’s rising demand for efficient and sustainable transport solutions. This expansion is part of Corridor 2 of the Pune Metro and includes two key routes: Vanaz to Chandani Chowk (Corridor 2A) and Ramwadi to Wagholi/Vitthalwadi (Corridor 2B).It will connect residential, IT, and educational hubs in areas such as Bavdhan, Koth..

Next Story
Infrastructure Transport

Assembly begins for ‘Nayak’ TBM on Thane– Borivali Twin Tunnel Project

The assembly of ‘Nayak’, the first of four Tunnel Boring Machines (TBMs) for the Thane–Borivali Twin Tube Tunnel Project, has commenced at the Thane site. Built by German firm Herrenknecht AG and deployed by Megha Engineering & Infrastructure (MEIL), the TBM marks a key milestone in Mumbai’s ambitious 11.8-km underground road corridor beneath Sanjay Gandhi National Park.The twin tunnels will reduce the Thane–Borivali travel distance by 12 km and decongest Thane Ghodbunder Road. ‘Nayak’, with a 13.2-metre diameter, is designed to bore through challenging geological conditions ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?