Business

Lux furniture firm Stanley eyes IPO

Firm to invest ₹70 crore in expansion

Stanley Lifestyles, a premium furniture and home décor products firm, said it would enter the capital market in fiscal 2024 and also expand its business globally.

The company announced its foray into complete luxury home interior solutions and personal accessories through Stanley Level Next, its new flagship premium lifestyle store launched here on Thursday.

Sunil Suresh, founder-chairman and MD, Stanley Group, said, “Over the next two years, we will open five more Stanley Level Next new-gen retail outlets with an investment of ₹20 crore. We will also invest another ₹50 crore to expand omni-channel mid-segment furniture outlets — Sofas & More, from seven outlets currently to 50 stores. We are preparing for a global foray and an IPO by FY24 is also being planned.''

Stanley, that currently has presence in Delhi, Mumbai, Gurugram, Hyderabad, Bengaluru, Chennai, Kolkata and Kochi is targeting a revenue of ₹700 crore by FY25, up from ₹360 crore this year.

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Printable version | Jul 11, 2020 6:39:32 AM | https://www.thehindu.com/business/lux-furniture-firm-stanley-eyes-ipo/article30935148.ece

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