NEW DELHI: Bengaluru-based leather manufacturer Stanley Lifestyles has announced its foray into complete luxury home interior solutions and personal accessories through Stanley Level Next, its new flagship premium lifestyle store launched in Bangalore.
Over the next two years, the company plans to open five more Stanley Level Next new-gen retail outlets with an investment of Rs 20 crore and expand its omni-channel mid-segment furniture outlets – ‘Sofas & More’, from 7 to 50 stores with an investment of Rs 50 crore. Preparing for a global foray and plans for an IPO by FY 24, the company is targeting a revenue of Rs 650 crore.
Committed to the ‘Make in India’ initiative, Stanley plans to expand its 3.5 Lakh sq. ft. state-of-the-art manufacturing facility in Bangalore, with an additional 2 Lakh sq. ft. to meet the growing demand and looks to increase its employee base from 1200 to 5000 in the next five years. The company has commissioned two new factories in 2019, one for kitchen and wardrobes and the other for premium mattress and bedding, with an investment of Rs 15 crore.
Present across 20 exclusive stores and 30 sales points in 10 Indian cities, which include Delhi, Mumbai, Gurgaon, Hyderabad, Bangalore, Chennai, Kolkata, Kochi, and with plans to grow, Stanley group aims to achieve Rs 700 crore by FY 25 from its current sales of Rs 360 crore.
The company, which is India’s first manufacturing-retail home furnishing brand, is a global vendor to IKEA & La-Z-Boy and caters to the automobile manufacturers in India such as Tata, Toyota, Ford, Mahindra & Mahindra, Renault; aviation manufacturers such as Boeing; and hospitality customers like Taj Hotels, Intercontinental Hotel Group, Starwood, among others.Stanley is an ‘A’ rated debt free company, with adequate cash reserves and has successfully raised growth capital fund with a company valuation of USD 125 million.
On his quest to make Stanley a truly global Indian company, Sunil Suresh, Founder Chairman and MD, Stanley Group said, “We compete with international brands and are known for our high quality standards & craftsmanship and proudly position ourselves in high-end home & lifestyle business. As India’s very own luxury brand, we strive to exceed the expectations of the discerning Indian consumers, and design and develop modern offerings with an International touch that are customised to suit Indian lifestyle and living conditions.”
“Our rich legacy of upholstering for top OEMs and our award winning OEM divisions has served some of the most iconic global brands. We have set up a cabinetry manufacturing unit with German know-how, to design and manufacture kitchens, wardrobes and storage units. We have also commissioned a prestigious design team to helm our collection of bespoke footwear and personal accessories,” he further added.
A pioneer in premium leather sofas in India, Stanley Lifestyles opened country’s largest Multi brand anchor store – ‘Global Living Emporio’. It is spread across an area of 1,00,000 sq. ft. with 5 floors and houses over 40 internationally renowned furniture brands from across the globe, offering premium luxury furniture designs, kitchens and wardrobes for every aspect of the home. Stanley’s wide portfolio also includes – ‘Stanley Boutique’, its legacy stores that primarily sell sofas and recliners; ‘Sofas & More’, its product driven omni channel concept, housing latest globally inspired furniture collection targeting mid and mid-high segments of the markets and ‘Stanley Level Next’, its new format stores that aim to position Stanley as a lifestyle brand, selling fashion accessories, furniture and custom automotive seat covers.