Home Retail BoConcept to open seven more stores in next five years

BoConcept to open seven more stores in next five years

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Founded in 1952, BoConcept is globally-renowned premium furniture and accessories brand, offering customised, coordinated and affordable products styled for modern day living. With its flagship store opened in New Delhi recently, the brand seeks to add a touch of class and its Urban Danish Design heritage to homes of NCR denizens.

BoConcept to open seven more stores in next five years
Encouraged by the positive customer reception in Delhi, Zoe Concepts is planning to expand BoConcept into other markets also, for which it has franchise rights

Denmark-based , a premium furniture and accessories brand, has entered the Indian market via the franchise route. With its flagship store opened in New Delhi recently, the brand is looking to mesmerize the denizens of National Capital Region (NCR) with its exquisite, modern design furniture that adds a touch of class and its Urban Danish Design heritage to one’s abode!

BoConcept has appointed as its exclusive franchise partner for Delhi NCR and other markets. The firm has been conceptualized by , who is a modern contemporary design enthusiast. An established entrepreneur, he also owns Nouvel, a leading integrated service provider company, offering solutions for: facility management, turnkey interiors, ambient scenting, handyman services and plant rentals.

The origin of the brand dates back to 1952, tells Khanna. “BoConcept is a premium furniture and accessories brand based in Herning, Denmark. Its foundations were laid by two Danish craftsmen, and . Part of the brand’s name is Bo, a Danish name for living and other part is concept, and thus, BoConcept stands for creating your own living concept. The brand, today, enjoys a worldwide presence, with approximately 250 flagship stores in 60 countries,” he expounds.

Market Potential

The taste and fashion of the people in Delhi is evolving each day, notes Khanna and says that we are extremely excited about the launch of the BoConcept flagship store in the national capital. I believe that the well-travelled discerning buyer of New Delhi would be able to identify with our product offerings. There is a void in the interior space for high quality finished products designed by world-class designers. We believe that BoConcept will successfully fill that void in the market. What makes us even more unique is our ability to customize each piece to suit the individual style of our buyers. It’s more than a great design, it’s a concept!

Inside The Store

The BoConcept store presents an ultimate destination for modern and contemporary furniture. It offers a wide assortment of home furniture and accessories ranging from small accessories to complete furniture solution for the entire home.

“Our store is situated at MG Road, Delhi and is spread across 4,500 sq.ft. of area. It has 14 in-house studios displaying different design schemes and has skilled design consultants to assist customers decorate the home of their dreams. The store offers a wide range of furnitures like dining tables, beds, sofas, chairs, etc. And accessories like cushions, rugs, lamps, etc. to choose from,” Khanna says.

Product Bouquet

In furniture, the brand’s product range comprises: living (sofas, sofa accessories, sofa sleepers, daybeds, armchairs, coffee tables, etc.); dining (tables, chairs, bar stools, sideboards); sleeping (beds, sofa sleepers, mattresses, bedspreads, etc.); storing (wall systems, media units, book cases, shelves, chest of drawers); hallway
(hallway furniture, mirror and accessories); working (desks and chairs, office accessories); and outdoor (furniture and accessories). Product range in accessories includes: decorations (vases, candlesticks, bowls and dishes, sculptors, clocks and mirrors, wall decorations and frames); textiles (cushions, bedspreads, poufs, throws and more); rugs (rugs and runners); lamps (floor, table, pendants, wall); functional accessories (living collection, storage, stools, racks and hooks, office accessories).

Pricing Strategy

The brand will primarily cater to the upper middle class with its range of modern design products. Regarding the pricing strategy in India, Khanna apprised, “We call it as affordable luxury for the reason that we are not on the top end of the market but we are somewhere slightly above what we get at this point of time in India.” He also lets in that the minimum price for a piece of furniture such as a 3-seater sofa or bed starts from Rs 1.5 lakhs and can go upto Rs 10 lakhs and above. The minimum price of accessory item like candle holder is Rs 600 whilst the most expensive piece of accessory can cost Rs 20,000 and above.

Made For Success

Importantly, BoConcept’s whole range will be produced at Denmark and would be imported to India. But why not manufacture locally? Khanna avers, “The USP of the product is that it’s manufactured in Europe and we don’t want to take that speciality away from it.”

The brand has a passionate team of talented in-house designers at its headquarters, who design exclusively for it. They strive to design the perfect furniture and accessories in their quest to help their patrons realize their dream home. They are devoted to urban life and functionality yet hold their background, ideas and approaches whilst creating the beautiful products with international audience in mind. Simplicity and functionality are BoConcept’s core values. The designers focus on optimizing the manufacturing process and making it cost- efficient without compromising on the look. Besides, the designs are a clever and innovative piece of work. The brand takes delight in accomplishing the best results for its customers. BoConcept’s design and product knowledge can help them make the best choices for their living spaces.

What’s next?

Encouraged by the positive customer reception in Delhi, Zoe Concepts is planning to expand BoConcept into other markets also, for which it has franchise rights. It is looking to have two stores in Mumbai and Bengaluru by 2017.

Shares Khanna, “We plan to open another one in Mumbai by February 2017, followed by Bengaluru and Chennai. In the next three years, we expect to have at least four stores, and eight stores in all in the next five years.”

In reference to the sales expectations, he feels that each store could generate at least Rs 12 crores a year. Zoe Concepts will be investing roughly half a million euros (~ Rs 4 crores) for opening each new store. The firm has already started scouting for locations in Mumbai, where the store is expected to open its doors by March next year.