Wooden Street started its operations in a small manner. Company was formed in July,2015. Wooden Street is based at Rajasthan which provides ready as well as customized furniture solutions for people’s home furnishing needs. The company provides affordable furniture in a variety of styles with a focus on innovation and provide better utility such as storage and maximum utilization of space. The company specializes in solid wood furniture made of Sheesham, Mango wood, etc. Though, there are big players such as Pepperfry and Urban Ladder in this space, the company has an edge over such big player that it customizes furniture as per the specifications of the customers.
The company helps its customers by bypassing the middlemen to cut additional costs. Company manufactures the furniture through their exclusive vendor’s manufacturing units in Jodhpur and Jaipur. It may be interesting to know that Jodhpur and Jaipur contributes to more than 90% supplies of Solid Wood furniture in India.
● Operating history
Wooden Street was co-founded by Mr Lokendra Ranawat, Mr Dinesh Pratap, Mr Virendra Ranawat. Mr Lokendra is an engineering graduate with 10+ years of experience in Digital marketing, Web design, User Interface. Mr Dinesh is an alumnus of MNIT, Jaipur and holds an MBA from IIM Kozhikode. Dinesh has worked with P&G Asia as Supply Chain Manager. Mr Virendra is an engineer with an MBA from IIMM Pune.
Apart from the founding team, Company has a team of 120 people overlooking activities such as designing, prototyping, sourcing, order management, sales etc. Currently, their teams operate from multiple offices, located in Udaipur, Jaipur and Jodhpur and various cities where furniture delivery takes place.
Company believes in ideology that, as Indian consumers acquire new tastes, retailers are less and less able to satiate their demand with readymade choices of furniture and are also focusing on providing custom-made furniture.
Company operates 15 Retail stores across India, located in below cities:
● Key Milestones
USP of the Company
Company’s unique selling proposition vis-à-vis its competitors can broadly be summarised as below:
a) Custom Made furniture
b) Higher Ticket Size and lower Acquisition cost
c) Focus on Design options and Multiutility Furniture
d) Go to Market strategy via mix of Online and Offline model
The most popular products with customers are as under:
The below figure represents the category sales of furniture sold by the company. Top 5 category make 55% of sales. The other category products which contribute to 17% of the revenue of the company.