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Livspace to infuse Rs 187.5 cr in JV with ASG

Monday, 25 Oct 2021
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Livspace is expanding to the Middle East, starting with Saudi Arabia where it has formed a joint venture with the Alsulaiman Group (ASG).

The company will invest USD 25 million (Rs 187.5 crore) in the joint venture with ASG, the operating partner of Swedish furniture retailer Ikea in the region.

The company’s growth over the next one year to year-and-a-half will come from expansion into new markets abroad, more non-metro and smaller cities within India and by improving unit economics.

Within the Gulf Cooperation Council (GCC), the company intends to expand to another six to seven cities.

In India, Livspace currently serves 13 metro and non-metro areas: Bengaluru, Delhi, Noida, Gurugram, Mumbai, Thane, Pune, Hyderabad, Ahmedabad, Kolkata, Kochi, Jaipur and Chennai.
 
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