Interiors to suit your style, ABEsquare goes the extra mile
Mamta Bhardwaj March 20, 2017, DHNS 0:03 IST
From customised furniture pieces for residences to complete home interior solutions, ABEsquare has come a long way since its inception in 2015. The company is currently working on over 20 projects and estimates the value of its order book for the next six months at $1 million. “The market is filled with furniture-makers, however, most vendors offer their own style and choice of furniture. Here, we found a gap in the market. Customers need not have to resort to buying from the seller’s choice of furniture, and are entitled to their own style,” opines ABEsquare Founder Arvind Kadam.
As an end-to-end service provider, the company now takes up projects on turnkey basis. With up to 20 projects in the pipeline currently, the company counts Address Makers, the real estate development arm of Piramal Fund Management, amongst its clientele. Boasting of core competency in kitchens and wardrobes, ABEsquare has placed focus on residential projects that are in the 1 lakh to 1.5 lakh sq feet range, and wishes to work with clients on the premium end of the spectrum.
“More often than not, clients have certain specific needs on their mind and we want to offer products that suit their style and expectations,” Kadam says, adding, “If we are able to start working on a project even before the walls and electricals are done, we will be in a better position to cater to specific requirements. Hence, we are taking up projects at the initial stage itself, on a turnkey basis.”
The ABEsquare team is currently 12-strong, including designers, marketing, sales and operations personnel. The company hopes to raise its pre-Series A round of funds in the next two months. “The pre-money valuation of ABEsquare is at Rs 20 crore. We intend to raise about 10-20% of that,” he says. Having been an online brand, the company plans to launch its first experience centre after the fund-raising exercise.
Alongside, the company plans to invest in its vendors so as to attain better control of quality and operations. “By investing in our vendors, we will be able to control quality and standards at the initial stages of production. We will be able to attain mutual trust and compatability in creativity and execution,” Kadam says. Next, the company finds it imminent to embark on mass marketing initiatives to popularise the brand.
In about two to three years, ABEsquare plans to introduce its services in tier II cities, while this year will mark its entry into Chennai and Hyderabad. “We are already in talks with some clients, who have projects in Hyderabad and Chennai. Delhi and Pune are on the cards too, but we will focus on those cities a little later, maybe by 2018,” he tells DH.