05 Mar 2024, Edition - 3157, Tuesday
Cityfurnish Launches its Offerings in Hyderabad
January 23, 2020
Business Wire IndiaCityfurnish- a Gurgaon-based furniture and consumer appliances rental startup, which was recently part of the Y Combinator winter batch of 2019 has announced the launch of its operations in Hyderabad. The offerings of Cityfurnish already live in Delhi, Mumbai, Bangalore, Pune, Gurgaon & Noida. The online rental furniture startup is revolutionizing the on-demand rental economy in India. Cityfurnish was founded in September 2015 by Neerav Jain and Saurabh Gupta with a vision to set consumers free from the shackles of buying expensive commodities like furniture and consumer appliances, so that they can rather invest in meaningful experiences and other valuable assets.
Since its inception, the company is now the most diversified rental player in the market with products ranging from furniture, furnishings, appliances and fitness equipment. Apart from residential furniture, the company also has an accelerating presence in the commercial and hospitality segments. The brand is also planning to expand its business in 14 cities by the end of 2020 and creating a new trend for renting the furniture and home appliances. Cityfurnish is planning to launch India’s first furniture subscription program with pay as you go model with no minimum commitment. In this model, customers will not only be able to subscribe to their products but also would be able to change packages as per their need without any extra cost.
Buoyed by the increasing consumer base in India, the brand has witnessed a 100% YOY growth in FY 2018-2019 and has expanded exponentially with a 100% subscriber growth rate and 50% customer retention rate in the last 12months.