Leading home design brand HomeLane.com has announced its market expansion in two new cities – Kolkata and Pune. The start-up plans to invest Rs 15 crore to boost business and branch in to the new markets and aims to deliver 1,000 homes in both cities in the next one year.
With Pune and Kolkata, HomeLane will be now 7 cities and 10 experience centres strong. The startup is already strengthening its market presence by doubling its experience centers in the existing markets. HomeLane also plans to add 200 interior designers from the two cities.
Close to 25,000 new units are expected to come up for possession in Kolkata and Pune this year. This translates to a Rs 1,000 crore plus annual market for home interiors in both these cities.
Srikanth Iyer, co-founder & CEO, HomeLane says, “The growing consumer demand for quality living among urban Indians is what propelled us to consider Kolkata and Pune as potential markets. We have been noticing huge demand among the design conscious new homeowners in both Pune and Kolkata and we are expecting a huge volume of business coming from these two cities. We had closed FY 2018-19 with an ARR of 400 percent higher than last year and expect to double the numbers by the end of this year.”
HomeLane.com had launched its proprietary virtual design platform, SpaceCraft in early 2017, which has boosted its business manifold. SpaceCraft not only facilitates e-meetings and virtual designing of the homes in 3-D but also comes with an in-built pricing engine which enables the customers to keep a track of the project pricing in real time. The removal of design gaps and reduction in iteration time has led to faster project finalization, cutting the ticketing window from 30-45 days to a mere 7 days. HomeLane has seen a whopping 300 percent growth in business with SpaceCraft in use.
HomeLane.com has always been an advocate of an online-offline mix approach to doing business. With a sharp focus on the brick and click model, HomeLane’s value proposition is to solve the interior design problem with technology and be predictable in terms of timelines, pricing, and quality. The start-up designs and delivers customized fit-outs for homeowners, with an industry first 45-days guarantee, failing which HomeLane pays the pro-rata rent. HomeLane aims at enabling every average Indian homebuyer to have access to bonafide interior designers, which usually is a dream for most Indian middle-class homes. HomeLane brings quality, transparency, and predictability to urban Indian home buyers, which is unheard of in the conventional home design process.