Bengaluru— Indians have a long-standing tradition of renovating their homes, which is frequently sparked by holidays, significant life events, or just the desire to update their living areas.
Younger generations are moving to cities in quest of better jobs and a higher standard of living, which is driving the country’s fast urbanization and increasing demand for furnishings for flats and studio spaces.
India is renowned for producing furniture, especially for its rich legacy of traditional designs and craftsmanship, in addition to being the world’s largest consumer of furniture. According to statistics, India is the world’s fifth-largest furniture exporter and fourth-largest furniture consumer.
A Mordor Intelligence analysis estimates that the nation’s home furniture market will reach a valuation of approximately $15.93 billion in 2024, having grown significantly. By 2029, the market is anticipated to have grown to $24.29 billion at a compound annual growth rate (CAGR) of 8.80%.
Let’s take a deeper look at the top five domestic home furnishings firms that are now ruling the Indian furniture market, arranged by number of stores (in descending order).
1. Godrej Interio
250+ stores
Godrej & Boyce, a company of Godrej Enterprises Group, founded Godrej Interio in 2006 as a division for office and home furnishings. But since 1923, Godrej & Boyce have been producing furniture.
The business offers individualized design consultations, installation services, and post-installation support in addition to retailing sofa sets, beds, closets, kitchen units, cabinets, and storage choices. Its seven production plants are located in Bhagwanpur, Haridwar, Shirwal, Khalapur, and Mumbai.
Presently, the brand operates more than 500 dealer outlets, 250 exclusive showrooms, and more than 450 cities. Its online store supports more than 17,000 pin codes.
By the conclusion of fiscal year (FY) 2025, Godrej Interio intends to have grown its retail footprint by 104 new locations, totaling over 200,000 square feet of retail space.
2. Royaloak Furniture
200+ stores
Vijai Subramaniam and his brother Mathan Subramaniam launched Royaloak Furniture, a furniture and home décor company based in Bengaluru, in 2010.
According to media accounts, the entrepreneur started out with modest furniture stalls at government-sponsored shows in the early 2000s before opening the first store in 2004 under the name Oak & Oak. In 2005, a supply chain for both domestic and foreign furniture was established. In Banaswadi, Bengaluru, the first Royaloak store opened its doors in 2010.
The company sells outdoor furniture, mattresses, couches, recliners, tables, and home décor pieces.
In more than 116 Indian cities, including Hyderabad, Mumbai, Kolkata, Chennai, New Delhi, Bengaluru, Bhopal, Ahmedabad, Guwahati, and Kochi, Royaloak currently has a network of more than 200 stores. The business serves more than 10 million clients and has established an omnichannel presence.
3. Pepperfry
150+ stores
In 2011, Ambareesh Murthy and Ashish Shah, two former eBay executives, founded the omnichannel home décor and furniture retail chain Pepperfry as an online-first business. In 2014, the business established its first physical location in Mumbai.
In categories like furniture, home décor, kitchen and dining items, lamps and lights, electrical appliances, wall art, and more, the shop sells over 1,000 Indian and international brands in addition to more than one lakh stock-keeping units (SKUs).
Pepperfry became a publicly traded firm in 2022 in order to get ready for an IPO. To focus on expansion and profitability, the company has postponed its IPO aspirations and is still a privately held company.
The Mumbai-based business has more than 4.5 million registered users and subscribers, and its website receives over seven million views per month. It currently runs more than 150 outlets in around 100 Indian cities, and in the next two to three years, it hopes to reach 150 cities.
4. The Sleep Company
120+ stores
In 2019, Harshil and Priyanka Salot, a husband and wife team, established The Sleep Company as a direct-to-consumer (D2C) company. In June 2022, the retailer from Mumbai launched its first physical location in Bengaluru.
The company sells a wide range of goods, including as office chairs, smart recliner beds, mattresses, sofas, pillows, and cushions. Its flagship product, the mattress, has SmartGRID technology, which adjusts to the curves of the body.
With more than 120 locations in 35 cities and a customer base of over two lakh, the company intends to grow to more than 150 locations by the end of FY25. Currently, Bengaluru is home to the majority of its outlets.
The Sleep Company’s annual recurring revenue (ARR) was Rs 500 crore in July 2024, and it plans to achieve Rs 1,000 crore in the following two to three years.
5. Wooden Street
102 stores
In 2015, Lokendra Ranawat established the Jaipur-based furniture and home décor business Wooden Street. The company provides a selection of more than 30,000 furniture, décor, and furnishing goods and services more than one million clients.
In January of this year, the company introduced Light Street, a unique in-house lighting décor brand.
In cities like Bengaluru, Mumbai, Hyderabad, Chennai, Pune, Delhi NCR, Jaipur, and Ahmedabad, Wooden Street has a chain of physical stores. Additionally, it operates more than 350 distribution hubs around the country, more than 20 warehouses, and manufacturing facilities totaling 15 lakh square feet.
Within the next two to three years, the firm hopes to open 300 locations around India and generate Rs 50 million in sales. Over the following two years, Light Street plans to open about fifty stores.
