Following the launch of @home Mulund and Kandivali in Mumbai, Nilkamal Ltd has opened a 17,500 square feet store at Navi Mumbai. The store stocks 25 living room styles covering 5,380 square feet, 18 bedroom styles covering 4,000 square feet, 16 dining room varieties spread over 1,200 square feet, and home accessories and soft furnishings spread over 4,500 square feet.
Nilkamal Ltd, a 500-crore listed company, is the brainchild of the 2nd generation entrepreneurs, Manish Parekh, Nayan Parekh and Hiten Parekh. The company had ventured into retail with the launch of @home. Currently, @home showrooms in the country are located in Pune, Mulund and Kandivali in Mumbai, Bangalore, Hyderabad, Nashik and Ahmedabad.
The company plans to invest Rs 30-40 crore in the retail venture over 3 years and expects revenue of Rs 200 crore from a planned network of 38 company–owned stores in 2009-10. Approximately 75 per cent of their customers are individual buyers, while the rest 25 per cent are ‘complete solution’ buyers. By the end of FY 07–08, the company is planning to add 9 more stores to the existing 7. Nilkamal will soon be launching their 4th store at Thane, in Mumbai, and will be further expanding to Chennai and Coimbatore.