Carpets and home textiles business Jaipur Rugs has opened a new store in Bengaluru and the business also aims to continue its international expansion and reach a revenue total of Rs 1,000 crore next fiscal.
As part of Jaipur Rugs’ plan to become a truly international brand, the business opened a store in Milan, Italy in December, 2021 and plans to continue to open brick-and-mortar stores in Southeast Asian markets. “We are bullish on the growth patterns of both our domestic and export markets,” said Jaipur Rugs’ director Yogesh Chaudhary, the Press Trust of India reported.
“We are a young company in the domestic market and it contributes 7% to our group turnover and the rest comes from exports,” said Chaudhary. “We are planning to raise it to around 12-15% by the end of the next financial year.”
Jaipur Rugs reported a revenue total of Rs 500 crore for the 2021 financial year and aims to reach a total of Rs 700 crore in the 2022 financial year. The business is expecting to reach Rs 1,000 crore in revenue in the next financial year through domestic and international retail sales and exports, according to Chaudhary.
