Godrej Group has increased its footprint in the lifestyle vertical by acquiring a 51 per cent stake in India Circus, a venture by Krsnaa Mehta, for an undisclosed sum.
India Circus Retail offers contemporary and affordable home decor and personal accessories. With this merger, the Godrej group aims to strengthen India Circus’ market position as a lifestyle brand. India Circus will continue to retain its identity and brand name under Godrej. Krsnaa Mehta will be responsible for design, and Godrej will be responsible for efficiencies in operations and marketing of the business. Furthermore, India Circus employees have been retained, as the group believes that talent is an important asset of this lifestyle brand, Godrej Group said.
In the coming years, Godrej will continue to expand its portfolio in the lifestyle segment by investing in existing lifestyle brands and by creating its own. On the other hand, with this merger, India Circus expects its market revenue to grow by 500 per cent over the next two years.
“With this partnership, we are looking forward to strengthen our lifestyle footprint and also compliment our existing lifestyle brands like Godrej Interio. The acquisition of India Circus is one of the steps towards building a robust lifestyle vertical,” Godrej and Boyce head, strategy and innovation, Navroze Godrej said.
“I am confident that with Godrej, this brand can make it to the next level and soon be available not only in India but all over the world,” he added.
In addition to its online presence and the existing shop format, India Circus will now have its presence in over 50 Godrej Interio retail outlets across 20 cities.
Published 19 January 2016, 20:38 IST