Furlenko’s original House of Hire aims to become profitable by March 2023

New Delhi: House of Hire (HOK), the parent company of furniture rental company Furlenko, is expected to turn profitable in less than a year due to strong revenue streams led by its furniture business.

After doubling the annual revenue run rate 200 crores in 2021, Furlenko aims to touch 500 crore run rate in one year on the back of positive cash flow from operations.

To accelerate the process, furniture and lifestyle brand HoK is building a DIY-UT (Do-It-Yourself-Using-Tech) business model and has also migrated to a leading ERP platform to drive its internal processes. Used to be. It is also working towards achieving excellence in customer service and surpassing the industry benchmark of Net Promoter Score (NPS) for both Furlenko and Prava, according to its leadership team.

“We expect to be profitable by March 2023. As a new-age startup, one should aim to create real shareholder wealth for the long term, which is why we focused on growing in parallel with profitability. Ajit Mohan Karimpana, Founder and CEO, House of Hire (HOK) and Furlenko, said.

In 2021, the parent brand made some significant announcements as part of its growth and category expansion strategy, such as the launch of a sub-brand of Furlenko, UNLMTD – an annual subscription service that offers its entire home at one cost. and luxury furniture and lifestyle brands.

These two brands currently contribute over 10% of HoK’s total revenue. Going forward, HoK wants to expand its services and provide customers with access, choice and transformation across the furniture and lifestyle category.

“People and their tastes are evolving according to their needs. At Furlenko, we aim to provide access to designer furniture at value for money and we believe that in the grand scheme of things, rental is just the first step and we are looking at other avenues to cater to a wider customer base.” Karimpana said.

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