Home decor brand Nestroots eyes robust expansion in offline and international markets

<!– –>

Home decor brand Nestroots eyes robust expansion in offline and international markets, ET Retail

<!–

–>

<!– –>

<!–

–>

<!–

–>

<!–

–>

<section class="container article-section status_prime_article single-post currentlyInViewport inViewPort" id="news_dtl_104938299" data-article="0" page-title="Home decor brand Nestroots eyes robust expansion in offline and international markets" data-href="https://retail.economictimes.indiatimes.com/news/home-and-decor/home-decor-brand-nestroots-eyes-robust-expansion-in-offline-and-international-markets/104938299" data-msid="104938299" data-news="{"link":"/news/home-and-decor/home-decor-brand-nestroots-eyes-robust-expansion-in-offline-and-international-markets/104938299","seolocation":"/news/home-and-decor/home-decor-brand-nestroots-eyes-robust-expansion-in-offline-and-international-markets/104938299","seolocationalt":"/news/home-and-decor/home-decor-brand-nestroots-eyes-robust-expansion-in-offline-and-international-markets/104938299","seometatitle":false,"seo_meta_description":"It is expected that by the end of this month, the brand will be raising Rs 3 crore at Rs 27.5 crore post-money valuation by diluting 8 per cent equity.","canonical_url":false,"url_seo":"/news/home-and-decor/home-decor-brand-nestroots-eyes-robust-expansion-in-offline-and-international-markets/104938299","category_name":"Home and Decor","category_link":"/news/home-and-decor","category_name_seo":"home-and-decor","updated_at":"2023-11-03 15:11:32","artexpdate":false,"agency_name":"ETRetail","agency_link":"/agency/88675625/ETRetail","read_duration":"2 min","no_index_no_follow":false,"keywords":[{"id":16041031,"name":"nestroots","type":"General","weightage":100,"keywordseo":"nestroots","botkeyword":false,"source":"Orion","link":"/tag/nestroots"},{"id":19372657,"name":"chhavi singh","type":"General","weightage":90,"keywordseo":"chhavi-singh","botkeyword":false,"source":"Orion","link":"/tag/chhavi+singh"},{"id":1417364,"name":"shark tank","type":"General","weightage":90,"keywordseo":"shark-tank","botkeyword":false,"source":"Orion","link":"/tag/shark+tank"},{"id":30873,"name":"home decor","type":"General","weightage":80,"keywordseo":"home-decor","botkeyword":false,"source":"Orion","link":"/tag/home+decor"},{"id":56056,"name":"expansion plans","type":"General","weightage":80,"keywordseo":"expansion-plans","botkeyword":false,"source":"Orion","link":"/tag/expansion+plans"},{"id":6357455,"name":"funding","type":"General","weightage":80,"keywordseo":"funding","botkeyword":false,"source":"Orion","link":"/tag/funding"},{"id":783683,"name":"lifestyle brand","type":"General","weightage":80,"keywordseo":"lifestyle-brand","botkeyword":false,"source":"Orion","link":"/tag/lifestyle+brand"}],"read_industry_leader_count":false,"read_industry_leaders":false,"embeds":[{"title":"chavi","type":"image","caption":false,"elements":[]}],"thumb_big":"https://etimg.etb2bimg.com/thumb/msid-104938299,imgsize-35978,width-1200,height=765,overlay-etretail/home-and-decor/home-decor-brand-nestroots-eyes-robust-expansion-in-offline-and-international-markets.jpg","thumb_small":"https://etimg.etb2bimg.com/thumb/img-size-35978/104938299.cms?width=150&height=112","time":"2023-11-03 15:11:31","is_live":false,"prime_id":0,"highlights":[],"highlights_html":"","also_read_available":false,"body":"

Nestroots, a new-age home decor and lifestyle brand, is planning to go offline by opening its own experience centres and shop-in-shops at multi-brand outlets, Chhavi Singh, co-founder, and CEO of Nestroots told ETRetail.

The brand denied sharing the investment figures that it is planning to put in to aid the expansion plans citing that it is middle of raising the seed round. It is expected that by the end of this month, the brand will be raising Rs 3 crore at Rs 27.5 crore post-money valuation by diluting 8 per cent equity.

The brand will be using these funds for product catalogue expansion, growth, and marketing.

Earlier, Nestroots raised Rs 50 lakh for 2 per cent equity in Shark Tank season 2.

“We are entering the large format stores for branding and recognition that we want to build amongst the consumers. This fiscal, we are expecting 5 per cent of our revenue to come from offline channels, however, from next year onwards, we plan to scale it up to 20 per cent,” she said.

“We are also targeting to open our EBOs, spanning across 2,000 sq.ft, in metro cities like Hyderabad, Bangalore, Gurgaon, and Mumbai by FY 2025. These will be primarily experience centres for customers to come, touch, feel, and see our products and place orders online. It will be an extension to our digital platforms,” she added.

The home decor brand is planning to raise its series A funding by June 2024.

“We want to raise funds to speed up our growth, enter new channels, and expand our marketing avenues to reach more consumers because in today’s digital times, it is all about speed which will ultimately define the destiny of the brand,” she asserted.

The brand, which currently offers 400 SKUs, is planning to scale the SKU count to 1,200 by the end of this fiscal year by foraying into new categories.

“Our goal is to become a one-stop solution in the home décor space,” she stated.

At present, the brand is offering its products via 3 channels – marketplaces, D2C website, and wholesale channel.

“Last year, our website contributed 40 per cent of the entire business, and this financial year we are expecting it to contribute 60 per cent of our entire revenue,” she asserted.

Currently, CAC for the brand stands at 22 per cent and the average ticket size is between Rs 2,500 to Rs 3,000.

By December, the brand is also planning to foray into international markets like the US, Canada, and Mexico through Amazon Global and its own website.

“By this fiscal end, we are aiming for 8-10 per cent of our revenue to come from the international markets,” she said.

Last fiscal, the brand which recorded EBITDA positivity of around 25 per cent and net profitability of 12 per cent, is aiming to close this fiscal with Rs 23 crore in revenue.

“,”next_sibling”:[{“msid”:104838826,”title”:”Premiumisation drive knocks on the doors of locks business, Godrej says”,”entity_type”:”ARTICLE”,”link”:”/news/home-and-decor/premiumisation-drive-knocks-on-the-doors-of-locks-business-godrej-says/104838826″,”category_name”:null,”category_name_seo”:”home-and-decor”}],”related_content”:[],”seoschemas”:false,”msid”:104938299,”entity_type”:”ARTICLE”,”title”:”Home decor brand Nestroots eyes robust expansion in offline and international markets”,”synopsis”:”It is expected that by the end of this month, the brand will be raising Rs 3 crore at Rs 27.5 crore post-money valuation by diluting 8 per cent equity.”,”titleseo”:”home-and-decor/home-decor-brand-nestroots-eyes-robust-expansion-in-offline-and-international-markets”,”status”:”ACTIVE”,”authors”:[{“author_name”:”Charu Lamba”,”author_link”:”/author/479259955/charu-lamba”,”author_image”:”https://etimg.etb2bimg.com/authorthumb/479259955.cms?width=250&height=250&imgsize=41184&hid=263″,”author_additional”:{“thumbsize”:true,”msid”:479259955,”author_name”:”Charu Lamba”,”author_seo_name”:”charu-lamba”,”designation”:”Senior Assistant Editor”,”agency”:false}}],”Alttitle”:{“minfo”:””},”artag”:”ETRetail”,”artdate”:”2023-11-03 15:11:31″,”lastupd”:”2023-11-03 15:11:32″,”breadcrumbTags”:[“nestroots”,”chhavi singh”,”shark tank”,”home decor”,”expansion plans”,”funding”,”lifestyle brand”],”secinfo”:{“seolocation”:”home-and-decor/home-decor-brand-nestroots-eyes-robust-expansion-in-offline-and-international-markets”}}” data-authors=”[” charu data-category-name=”Home & Decor” data-category_id=”5″ data-date=”2023-11-03″ data-index=”article_1″ readability=”25.409948542024″>

It is expected that by the end of this month, the brand will be raising Rs 3 crore at Rs 27.5 crore post-money valuation by diluting 8 per cent equity.

Updated On Nov 3, 2023 at 03:11 PM IST

<!–

2 min read

–>