Startup Story

From A Bootstrapped Startup To A $10 Million E-commerce Company – Story of Woodenstreet

0
woodenstreet

A team of Udaipur based first generation entrepreneurs Lokendra Ranawat & Virendra Ranawat had already been successful in setting up multiple ventures within a short span. The duo along with Dinesh Pratap and Vikas Baheti introduced a new concept in the online furniture industry of custom-­‐made furniture through their venture Woodenstreet.com

Together, these entrepreneurs founded Woodenstreet in May 2015. “We saw a tremendous opportunity with customized furniture, which no existing player was offering and so decided, to craft a technologically driven solution to replace the traditional brick & motor model,” says Lokendra, Co-­Founder.

The Journey so far

Initially started with a team of 10 people & HQ’s in Udaipur, Woodenstreet now accommodates 100+ employees at multiple offices across Jaipur, Jodhpur, Mumbai, Delhi, Chennai, Hyderabad, Pune and Bangalore. The startup currently registers 2 lakh unique visitors & receives around 1Million pages monthly. Additionally, they also have successfully completed 5000+ orders so far, and the average ticket size remains of INR 25,000.The startup has grown tremendously in the past 12 months and the current valuation accounts of 10 Million USD, which is 67cr approximately. They are among the top 3 E-­‐commerce platforms in India who are selling furniture online and first among custom made furniture. During this span, the team received invitation & recognition from various leading newspapers & venture capitalists from across the country.

Advertisements


Unique Selling Preposition

The startup set its footsteps within a highly competitive industry, which is why it was very crucial for them to maintain the product superiority factor. The presence of leading players in the ecommerce space, such as Urban Ladder, Pepperfry, cover a huge variety of ready-­‐made furniture already. However, to beat this competition and to stand out different the team completely changed the scenario. The furniture space was studied carefully, and the research led to the conclusion of increasing demand for compact flats & the issue of limited space, which result in the concept of custom, made furniture. Simultaneously they introduced a wide a range of multi-­‐utility & innovative furniture for dual purposes where each piece is one of its kind.

woodenstreet_jodhpur

Milestones Achieved

WoodenStreet was fast and agile in meeting their targets; by following a customer centric approach they were able to capture the market very soon. With time they now have grown into a 10 Million USD company with setting up delivery & installation networks across Mumbai, Delhi, Bangalore, Hyderabad, Chennai, and Pune. Eventually, the startup also established separate manufacturing units for their primary operations i.e. a unit in Jodhpur for wooden furniture, a dedicated fabric sofa factory in Jaipur and simultaneously launched WoodenStreet experience stores across Pune — Koregaon Park and Bangalore Koramangala.

woodenstreet_storejpg

The team has set up their dedicated manufacturing units at Jaipur and Jodhpur separately. To ensure the right quality of the furniture is delivered at each doorstep, Woodenstreet furniture products undergo multiple stages of quality check to maintain the proper standards of the industry.

Office Culture

woodenstreet_hq

With an energetic and composed office culture, the startup open-­‐handedly motivates each employee to contribute his or her valuable thoughts for their business growth. The organization believes the idea; the business model is built by the founders, but a better focus is created with the collaboration of employees who are keen in achieving the milestones. Apart from regular meetings, the team actively participates in-­‐group activities, and the grand festivity celebrations take place within the premises.

“There is a unique sense of passion in our teams, our office reflects their passion & they truly understand the value of being a market leader,” said Dinesh Pratap, Co-­‐Founder

Like this content? Sign up for our daily newsletter to get latest updates.

Advertisements


Vardaan
Founding editor at IndianWeb2, he's been writing at IndianWeb2 since 2007. Apart from blogging he had a professional career of software developer, Ux developer and search engine marketer in past. His vision of IndianWeb2 has been laid down so as to showcase, encourage and propagate Indian startups, innovation and entrepreneurship ideas.

Paytm Appoints ex-Citigroup Executive Madhur Deora as Chief Financial Officer

Previous article

Online Coupons and Deals Startup Couponhaat Selected for ‘Bootstrap Track of FbStart Program’

Next article

Comments

Comments

This site uses Akismet to reduce spam. Learn how your comment data is processed.