Long road to profitability

HOMELANE HAS THROWN ITS WEIGHT BEHIND FRANCHISEES TO EXPAND BEYOND METRO MARKETS

- KARTIKAY KASHYAP

FOR BENGALURU-BASED HOME interior solutions startup Home Lane, artificial intelligence (AI) is turning out to be the key lever for retail expansion. At the heart of the strategy are franchise-owned and franchise-operated (FOFO) stores that are expected to cut both cost and time to customer doorstep.

Co-founder & CEO Srikanth Iyer says the company will penetrate larger urban markets with franchise-owned and company-operated (FOCO) stores but expansion into tier 2 and 3 cities will be spearheaded by franchisees.“Our strategy is to go beyond metros and build a strong presence in fast-growing residential hubs,’ he says. Home Lane currently operates 26 live studios based on the FOFO model. The Peak XV-backed startup plans to move rapidly into cities like Visakhapatnam, Vijayawada, Nashik, Allahabad, among others. By the year end, it plans to increase its presence to 100 cities in India and add 100 stores operating on the FOFO model.