Jaipur Rugs Aims To Open Two More International Stores This Fiscal
The company also plans to open five new domestic stores in the current fiscal.
Jaipur Rugs, which launched a showroom in London this week, is committed to building two more international stores in the current financial year, Director Yogesh Chaudhary announced.
The company, which is known for its hand-knotted rugs and carpets, plans to expand in the domestic market by opening stores in Tier I and Tier II cities. "The opening of our London store represents a pivotal moment for us as we continue to bring the artistry and tradition of Indian craftsmanship to discerning customers worldwide," Chaudhary said.
This year, the company plans to open five more outlets in the domestic market to meet the rapidly growing demand for luxury home decor solutions. In December 2021, Jaipur Rugs inaugurated its first international store in Milan. The company opened its second foreign location in Dubai last year.
"We are thrilled to expand our global footprint, building on our success in Milan and Dubai, as we showcase Indian design and craftsmanship to a global audience through our new showroom in London," Chaudhary said. "This marks a significant milestone for our company and by the end of this fiscal year, we aim to open two or more international stores."
The London store marks a significant milestone as the company's 16th store and 10th mono-brand store worldwide and its third international location following successful openings in Milan and Dubai, he said.
The Chelsea Harbour store will feature a range of hand-knotted rugs and carpets, showcasing both traditional and contemporary designs that reflect Jaipur Rugs. In the domestic market, it has a total of 10 mono-brand stores.
"We are building a strong brand story across Tier 1 and Tier 2 cities in India either by further strengthening our existing market presence or by entering new markets, with plans to open five new domestic stores during this fiscal year," he said.
Jaipur Rugs also has franchise stores in places such as Surat, Ahmedabad, and Chennai. It also has a presence in the US, China and Russia through sister concern and franchise model.
Jaipur Rugs works with 40,000 rural artisans, out of which 85% are women. Founded in 1978 with just two looms, it now has over 7,000 looms and sells in over 90 countries.
(With inputs from PTI)
