Stanley Lifestyles aims at Rs 500 crore turnover in 3 years

Stanley Lifestyles aims at Rs 500 crore turnover in 3 years
Cashing in on the burgeoning real estate market in Bengaluru, Stanley Lifestyles, which manufactures high-end, handcrafted sofas and car seats under the brand Stanley, is aiming to reach Rs 500 crore turnover by 2020.

“We will close this financial year at Rs 250 crore compared with Rs 220 crore last year,” Stanley Lifestyles Founder and Group CEO Sunil Suresh told DH. “The furniture industry thrives in the tailwinds of the construction industry. If you look at the Bengaluru market, there are over 150 to 200 projects launched in the past five years with an average ticket size of Rs 1 crore for an apartment. Each house needs high quality furniture,” Suresh said.

Recently, the company unveiled Global Living Emporio, the country’s largest international décor mall that houses over 60 top Indian and international brands. “On average, we are seeing a growth of 10% year-on-year in home customers. However, when you look at high-end customers, probably the growth is bigger there. People have realised that they need higher quality furniture. There is a lot of travelling happening in the last one decade, people who travel abroad aspire to own international brands irrespective of the cost,” Suresh added.

The company embarked its journey in 1996, by making automotive seats (trims) and recieved its first order from General Motors (GM) in 1998. “After GM, we started supplying to Ford. Between 1996 and 2000, we were making only automotive seats,” Suresh said. As a group, the company has over 600 employees, a 2,50,000 sq feet manufacturing facility in Bommasandra that makes about 70,000 leather car seats and 25,000 sofa seats annually. Currently, the company supplies car seats to Ford, Nissan, Renault and Toyota.

On the importance of last mile connectivity, he said, “In India, we follow (19-20) philosophy. We are very careless about the last mile connectivity which is very critical in making high quality products. We put 90% effort in making fabulous product, however, we stumble in last 10%. To overcome this problem, we hire people from Europe to train our employees.” “In fact, we visit European factories to understand the importance of last mile connectivity,” he added. The company has 15 Stanley boutique chain of stores across the country which is headed by Shubha Sunil.

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