{"id":26383,"date":"2022-02-27T13:57:03","date_gmt":"2022-02-27T08:27:03","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-jaipur-rugs-expansion\/"},"modified":"2022-02-27T14:03:21","modified_gmt":"2022-02-27T08:33:21","slug":"biz-jaipur-rugs-expansion","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-jaipur-rugs-expansion\/","title":{"rendered":"Jaipur Rugs aims to be Rs 1,000-cr firm next fiscal; to open new stores in Europe, Southeast Asia"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-337887406\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Feb 27 (PTI) Jaipur Rugs aims to be a Rs 1,000-crore company in the next financial year, helped by expansion in the domestic and overseas markets, as the handmade rugs manufacturer has opened a new store in Europe and is looking at Southeast Asian markets also, said a company official.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1470616042\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> The firm has opened a flagship store in Milan, Italy, considered to be one of the fashion capitals of the world, in December 2021 moving in the direction of its vision to be a global brand in the segment, said Jaipur Rugs Director Yogesh Chaudhary.<\/p>\n<p> Besides, the company is also planning to expand its presence in the domestic market, which contributes only seven per cent of its turnover and expects its contribution to increase in the total sales.<\/p>\n<p> &#8220;We are bullish on the growth patterns of both our domestic and export markets. We are a young company in the domestic market and it contributes seven per cent to our group turnover and the rest comes from exports.<\/p><div class=\"trade-content_5\" id=\"trade-3631765792\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> &#8220;We are planning to raise it to around 12-15 per cent by the end of the next financial year,&#8221; Chaudhary told PTI.<\/p>\n<p> Overall group revenue of Jaipur Rugs stood at around Rs 500 crore in FY21 and expects to close FY22 with Rs 700 crore by marking a 40 per cent growth in the pandemic-hit fiscal year.<\/p>\n<p> According to the company, it has produced 32 lakh sqft of rugs in the last seven months of 2021.<\/p>\n<p> Currently, Jaipur Rugs has five mono-brand stores in India and exports to over 60 countries.<\/p>\n<p> Besides, it operates in the US market through a step-down entity &#8216;Jaipur Living&#8217; and also operates stores in Italy, China and Russia.<\/p>\n<p> &#8220;My vision is to make Jaipur Rugs a global brand and the opening of our flagship store in Milan is the first step in realising that vision. This store has not only marked our presence in the European market but will also be a catalyst to other European markets,&#8221; he said.<\/p><div class=\"trade-content-10\" id=\"trade-172075244\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> Besides Europe, the Southeast Asian region is also an important market for Jaipur Rugs and is exploring various channels to tap that region as well,\u00a0 Chaudhary added.<\/p>\n<p> &#8220;Hopefully, Jaipur Rugs will be a Rs 1,000-crore group by the next fiscal year,&#8221; said Chaudhary.<\/p>\n<p> While talking about the domestic market, Chaudhary said Jaipur Rugs is getting an encouraging response and is planning to expand beyond metro markets.<\/p>\n<p> &#8220;India is a dynamic market for us and we are committed to expanding our base here not only in metros but also in tier-II cities,&#8221; he said.<\/p>\n<p> Chaudhary added, &#8220;The kind of response that we have got from the domestic market is encouraging and we expect the domestic market to contribute equally in our vision to quadruple our turnover in the coming years.&#8221; \t Jaipur Rugs was founded in 1978 with two looms and nine artisans. Now, it has expanded to 7,000 looms and is working with over 40,000 artisans spread across 600 villages in five states, of which 80 per cent are female. PTI KRH  HRS hrs<\/p>\n<div class=\"trade-after-content\" id=\"trade-1035660984\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Feb 27 (PTI) Jaipur Rugs aims to be a Rs 1,000-crore company in the next financial year, helped by expansion in the domestic and overseas markets, as the handmade rugs manufacturer has opened a new store in Europe and is looking at Southeast Asian markets also, said a company official. The firm has [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-26383","post","type-post","status-publish","format-standard","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Jaipur Rugs aims to be Rs 1,000-cr firm next fiscal; to open new stores in Europe, Southeast Asia - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-jaipur-rugs-expansion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jaipur Rugs aims to be Rs 1,000-cr firm next fiscal; to open new stores in Europe, Southeast Asia\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Feb 27 (PTI) Jaipur Rugs aims to be a Rs 1,000-crore company in the next financial year, helped by expansion in the domestic and overseas markets, as the handmade rugs manufacturer has opened a new store in Europe and is looking at Southeast Asian markets also, said a company official. 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