Godrej & Boyce Mfg Co Ltd, part of the diversified Godrej Group, has acquired a 51 per cent stake in home décor and accessories firm India Circus Retail Pvt Ltd for an undisclosed amount.
The existing management of India Circus will be retained, Godrej & Boyce said in a statement. Krsnaa Mehta, design director at India Circus, will remain responsible for design while Godrej will take control of the operations and marketing part of the business.
The deal will help strengthen the company’s lifestyle footprint and complement its existing lifestyle brands like Godrej Interio, said Navroze Godrej, head of strategy and innovation at Godrej & Boyce.
India Circus offers contemporary-chic, sophisticated, and affordable style from home decor to personal accessories. It hopes the deal will help it grow its revenue.
In addition to its online presence and the existing shop-in-shop format, India Circus will now have presence in about 50 Godrej Interio retail outlets across 20 cities, said Mehta.
Godrej & Boyce has a diverse range of products and services ranging from locks and appliances to aerospace parts and furniture. In 2014, Godrej & Boyce bought the polyurethane foam business of Somany Foam Ltd for an undisclosed amount.