HomeLane focuses on commercial interior design to drive growth, expecting it to generate ₹80 crore or 10% of its revenue in 2024, as stated by co-founder Srikanth Iyer. This strategy marks a significant expansion into new market opportunities.
On October 7, 2024, HomeLane announced its strategic focus on the commercial interior design sector, expecting this vertical to represent approximately 10% of its total revenue for the fiscal year, equating to around ₹80 crore. According to co-founder Srikanth Iyer, the company forayed into this market earlier this year, highlighting its commitment to growth through diversification into commercial projects. HomeLane’s move is part of a broader industry trend where companies are expanding their service offerings to tap into new revenue streams and cater to the evolving needs of clients in both residential and commercial spaces.
HomeLane, established as a prominent player in the interior design domain, has traditionally concentrated on residential projects. The decision to expand into commercial interior design is a strategic response to growing demand in this segment, which has been buoyed by the resurgence of businesses post-pandemic. As organizations increasingly seek aesthetically pleasing and functional work environments, HomeLane aims to capitalize on this demand by offering tailored design solutions for commercial spaces. This strategic shift underscores the company’s ambition to enhance its competitive edge within the evolving market landscape.
In summary, HomeLane’s investment in the commercial interior design market signifies a pivotal growth opportunity for the company, aligning with industry trends emphasizing the importance of quality design in workspaces. By projecting an estimated revenue contribution of 10% from this sector, HomeLane is poised to strengthen its overall business model while addressing the needs of a diverse client base. As the company continues to innovate and adapt, it remains a central player in the interior design industry.
Original Source: www.livemint.com
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