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According to recently published data, the home design and interior market in India is estimated to be around $23 billion and is projected to grow to $38 billion in the next five years. Touted as the country's largest full-home-only interior design company, Bonito Designs aims to capitalise on the emerging market and generate a revenue of Rs 1,000 crores in the coming two years. The company has already generated over Rs 280 crores in revenue for this fiscal year.
Bonito Designs was launched over ten years ago with the goal of providing intelligent and customer centric design solutions to people seeking to decorate their homes. Launched in Bengaluru, the company eventually expanded to Mumbai and now has four experience centres across both cities. Its future plans include expanding to other metro cities such as Hyderabad, Pune and National Capital Region (NCR) in the coming two years.
Bonito Designs recently announced a partnership with renowned interior designer Gauri Khan and famous Bollywood designer Manish Malhotra to offer home styling solutions to its customers. They are also in conversation with several well-known real estate developers across key property markets to collaborate.
The company intends to invest its growing revenue into gathering data-driven customer insights, increasing brand building activities and forging a deeper connection with its customers through technology integration. They also intend to use their platforms to educate customers using content marketing.
Bonito Designs has delivered over 4 million square feet of space and intends to deliver another 3 million square feet by the end of 2023-24. Its core team includes Amit Parsuramka, Rickson Dsouza, Arun Gonal and Pradeep Bhat. Lodha’s venture capital arm Tomorrow Capital made its first investment in Bonito Designs in 2019. Over the years, it has invested a total of Rs 125 crores in the design firm, taking 72% ownership of the same.
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