Jun 2, 2015


STARTUP NAME*:Wooden Street
APP / PRODUCT NAME:Custom Furniture Online
What does the company do?*:WoodenStreet.com is a startup that provides ready as well as custom solutions for people’s home furnishing needs. They provide affordable furniture in a variety of styles with a focus on innovation and providing better utility. They bypass middlemen to cut additional costs and look after manufacturing themselves.
What big problem does it solve?:In the past few decades, the Indian furniture segment has been largely disorganized. It has been difficult and tedious for people to procure good quality wood, find skilled carpenters, and carve out finished products, or even find ready-made furniture. There are many startups and established players solving this pain-point for the end consumer. Wooden Street Provide custom furniture too final user.
What is unique about the company?:Wooden Street follows an inventory-based model, wherein they monitor quality and service closely. Lokendra added: “Furniture making is a delicate skill, and based on our understanding, less than five percent of current Indian makers can deliver superior quality products. We want to continue working with our makers. We are not against a marketplace model, but we do not want to sacrifice customer satisfaction to save inventory costs.”
What is the actual addressable market?:Given the growth and penetration of e-commerce in India, WoodenStreet believes that the market is opening up, and that their efforts will be fruitful in both horizontal and vertical layers. Talking about potential market size, Lokendra added: “As per our understanding, the Indian furniture market is valued at above $10bn. Given fragmentation and unavailability of data, though exact figures are hard to ascertain.”
Why do users care about your product or service?:Challenges faced and future plans:

During the past few months, WoodenStreet has faced many challenges, and has learnt a great amount through them. Lokendra adds: “From sourcing to order fulfilment, we have been literally reinventing the wheel again and again, so that we stand true to our promise of superior value to our customers. Major challenges faced were with the supply chain, and inventory management and logistics. However, we are working hard to overcome every minor challenge that comes our way.”
What early traction has the company gotten?:WoodenStreet is currently in their pre-sales stage, and has fulfilled around 100+ orders across Delhi, Mumbai and Bangalore in the past few months, since the team started operations. Going forward, they estimate that their average ticket size will be similar to other online and offline stores, ranging anywhere around 15K to 20K.
What are the key differentiated features of your product or service?:
Company Web Site:www.woodenstreet.com
Founders Name*:Lokendra Ranawat


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