(L-R) Navroze Godrej, Head, Strategy and Innovation, Godrej & Boyce, Krsnaa Mehta, ED, India Circus, and Anil Mathur, COO, Godrej Interio, during the stratgic aquisition announcement.
Godrej takes majority stake of 51% in India Circus
~India Circus targets a growth of 500% over the next two years, through this merger~
MUMBAI, (GNI): Godrej, one of India’s leading business conglomerates, continues to increase its footprint in the lifestyle vertical by taking majority stake of 51% in India Circus, a venture by Krsnaa Mehta. With this merger, the group aims to strengthen India Circus’ market position as a lifestyle brand that offers affordable home décor & personal accessories.
Design thinking has been at the core of all innovation within the group and with this strategy in place, Godrej has been shaping the future since 1897. A result of this design thinking approach has been the group’s strategy to focus on the lifestyle space. Godrej has been transforming lives with their home furniture and interio solutions business, Godrej Interio. With this investment in India Circus, Godrej lifestyle offerings will further be strengthened.India Circus will continue to retain its identity and brand name under Godrej. Krsnaa Mehta will be responsible for design and Godrej will be responsible for efficiencies in operations and marketing of the business. Furthermore, India Circus employees have been retained, as the group believes that talent is an important asset of this lifestyle brand.
In the coming years Godrej will continue to expand their portfolio in the Lifestyle segment by investing in existing lifestyle brands and by creating their own.
With this merger, India Circus expects its market revenue to grow by 500% over the next two years. Commenting on the acquisition, Navroze Godrej, Head, Strategy and Innovation, Godrej & Boyce, said, “I’m excited to announce that we’ve acquired India Circus, a very niche and exclusive lifestyle brand. With this partnership, we look forward to strengthen our lifestyle footprint and also complement our existing lifestyle brands like Godrej Interio. The acquisition of India Circus is one of the steps towards building a robust lifestyle vertical.”
Krsnaa Mehta, Executive Director, India Circus, said, “I am very excited to be associated with Godrej. I also want to make India Circus one of the celebrated make in India brands out of India with a great design, great quality and a great price offering. Being a design house first its critical to our success as a brand. I am confident with Godrej this brand can make it ti the next level and soon be available not only in India but allover the world”. In addition to its online presence and the existing shop in shop format, India Circus will now have presence in over 50 Godrej Interio retail outlets across 20 cities.
Anil Mathur, COO, Godrej Interio, said, “Collaborating with India Circus has been a strategic step towards complimenting and further strengthening our lifestyle brands. We see a very strong overlap between Godrej Interio and India Circus consumers and distribution channels. In addition there is an overall increase in the offline and online purchase of household furniture & home accessories which makes this partnership very appropriate at this time”.