The home decor brand plans to expand its presence in overseas markets, including the US and UAE
New Delhi, June, 01st 2022: WallMantra, an innovative home decor company, has seen a 10x rise in its revenue due to an increase in digital consumption since lockdown. The company’s turnover has gone up from ₹ 2 crores to ₹ 20 crores as a result of the lockdown, where Tier-I and Tier-II cities account for 45 per cent of its total revenue.
Founded by Jitesh Agarwal, Kundan Lal and Shivam Agarwal, WallMantra manufactures and sells an elegant collection of Home Décor & Furnishing items like Paintings, Trendy Mirrors, Decorative Storages, smart DIY furniture, curtains, bedsheets etc.. It has always focused on selling Made in India products for the past five years, unlike most e-commerce platforms that mostly sell products sources from out of India.
Given the traction that online retailing has gained in the aftermath of the pandemic, the decor brand hopes to increase its turnover from ₹ 20 crore to ₹ 35 crore this fiscal year. Sharing details about the company’s revenue plan, Jitesh Agarwal, Co-Founder of WallMantra, says, “The COVID-19 pandemic changed people’s lives and businesses, causing significant shifts in consumer behaviour. They started exploring other options to meet their requirements and interests and our company received positive response from them. Despite numerous challenges brought on by logistical disruption during the initial stage of the lockdown, we completed all orders on time.”
He added, “Our product’s average ticket size is ₹ 3,400, however, the range varies from ₹ 1000 to over ₹ 50,000. The majority of our orders come from places like Mumbai, Bangalore, Hyderabad, Delhi NCR, followed by Jaipur, Nashik , Vijayawada, Kochi to name a few. Currently, Coffee Tables are the most frequently ordered products.”
The start-up, which has around 2.5 lakh customers and sells over 10,000 products per month, expects to generate 80 crore turnover in the next fiscal year, 2023-2024.
