“Source: Business Line”
Danube Home, the furnishing and interiors business arm of Dubai-based Danube Group, will soon sell its products online in India. The firm, which opened its maiden store here last year, will start tapping the e-commerce opportunity by offering products on sites such as Amazon in the first quarter of 2020.
“By June 2020, we will have our own e-commerce window,” Rizwan Sajan, Founder and Chairman of Danube group, told BusinessLine.
He said the firm will take a call on expanding its presence in the country next year after assessing the progress.
“We have invested about ₹50 crore so far here. After we firm up our expansion plans, we might invest ₹150 crore, about ₹30 crore each on smaller stores,” he said.
He, however, said that the final call on investments and expansion would be made after six months when it completed the assessment of its business in the country.
He claimed that it achieved 90 per cent of the target that it set it for itself for the store.
“We are targeting a growth of 25 per cent in the second year,” he said, without commenting on the revenues it earned in the first year.
“We would like to focus on the e-commerce business as it is expanding steadily in the country. This window would help us reach out to the growing number of millennials that are mostly shopping online,” Shubhojit Mahalanobis, General Manager of Danube Home, has said.
The firm, which has stores in over 22 countries, has tied up with over 20 vendors from Telangana, Gujarat, Mumbai and some other places in north India for manufacture of products to its standards.
The firm said it is planning to increase its exports in home decor and home furnishing products from Indian craftsmen and make it available to markets in the Gulf region.