Spacewood Furnishers targets Rs. 1,500 Cr revenue by 2029

Modular furniture solutions manufacturer Spacewood Furnishers announced the target to achieve Rs. 1,500 crore revenue by 2029. The company has achieved a turnover of Rs. 525 crore during fiscal year 2023-24, with a year-on-year growth rate of 18-20%.

Founded in 1996, Spacewood is one of India’s most recognized furniture manufacturers, known for its premium modular furniture, home furniture, pre-hung doors, desking, and institutional solutions.

Announcing the expansion plans, Spacewood’s Co-Founder Kirit Joshi said, “With an ambitious growth target of Rs. 1,500 crore by 2029, we are focused on expanding our reach to underserved markets, providing high-quality modular furniture that blends innovation, style, and functionality.”

Spacewood plans to further accelerate its presence in Tier 2 and Tier 3 cities, enhancing its dealer network from 650 to 1,000 in the next 3-4 years, and expanding its exclusive brand outlets (EB0) from 34 to 75 within the same period, with a long-term goal of reaching 100 outlets by 2029.

Mr. Joshi adds, “Our strategy is to make premium, made-in-India products accessible to consumers across the country. We are moving forward with a fresh B2C approach, expanding our dealer network and establishing more EBOs. We aim to position ourselves as market leaders and redefine how furniture solutions are experienced across India.”