Jaipur Rugs targets to open 35 stores in next 5 yrs, says Company director

New Delhi: Handmade rugs maker Jaipur Rugs is embarking on a global expansion with plans to establish presence in Asia Pacific and Europe, targetting a total of 35 stores in the next five years, according to company Director Yogesh Chaudhary.

The company, which on Tuesday opened its latest store in Dubai, is aiming to reach around 100 stores within the next 10 years.

"Our initial focus in the MEA region will be on our Dubai store, leveraging its strategic location and the opportunities it offers. Simultaneously, we are actively seeking favourable locations in APAC and Europe to expand our presence," Chaudhary told PTI in an e-mailed response.

On the future roadmap, he said, "With a vision of opening 35 stores within the next 5 years and reaching approximately 100 stores within the next 10 years, we are committed to aggressive growth and establishing a strong footprint in these markets."

At present, Jaipur Rugs operates a total of seven stores in India -- one store each in Delhi and Bengaluru, two in Mumbai and Jaipur each. Internationally, it has a company-owned store in Milan, Italy.

"Apart from our Indian and Italian locations, we have established a strong foothold in China, where we operate two franchise stores," Chaudhary said, adding that the company also has established a franchise store in Russia.

In India, the company has extended the franchise model to Gujarat, Hyderabad and Chennai, he added.

In the previous financial year, the group posted a turnover of Rs 920 crore.

"Considering the complexities of the business environment and the prevailing economic conditions, our focus for this financial year is to achieve a target turnover of Rs 1,000 crore," he said.

Jaipur Rugs has a total production capacity of over 10 lakh square feet per month, Chaudhary said.

It works with over 40,000 artisans, mostly women, across 600 villages in rural India.