Livspace targets $350 mn revenue

NEW DELHI: Home interiors and renovation platform Livspace aims to log $350 million (around ₹2,555 crore) in annual revenue run rate in the next two years as it expands its presence across Asia Pacific, Australia and GCC (Gulf Cooperation Council) countries.

The Bengaluru-based firm, which has raised $200 million from Swiss investment firm Kharis Capital, Bessemer Ventures and others, is also looking at achieving the break-even in the next 15 months.

“Despite the continuing disruptions, Livspace has succeeded in bringing together a highly fragmented home interiors market in India. Through a robust marketplace based model, we have created a strong value-based business helping homeowners, vendors and designers alike,” Livspace co-founder and COO Ramakant Sharma told PTI.

He added that the India operations achieved break-even in March this year, and the company aims to break-even across business in the next 15 months.

“We are also setting out to achieve a $350 million annual revenue run rate in the next two years,” he stated.

Sharma explained that the company has created a strong value chain helping homeowners, vendors and designers.

“We closed FY20-21 with a $90 million in revenue run rate. We have recovered and expect to grow 2x by FY22. Till date, we have designed over one lakh rooms and sold over 7.5 million SKUs...we are looking at 1,200-1,300 bookings a month, as we move ahead,” he said.

Sharma pointed out that Livspace is aggressively scaling up its business in India, while also strategically expanding its presence across Asia Pacific.

The firm had launched operations in Singapore in 2019, which is growing at 10% per month and contributing to about 20% of the business.