Stanley Lifestyles Ltd - Stock Valuation and Financial Performance

The company was originally formed as a partnership firm under the Partnership Act, 1932, as amended, in the name of ‘Stanley Seating’ pursuant to a deed of partnership dated February 1, 2007. The company was thereafter incorporated as a public limited company as ‘Stanley Lifestyles Limited’ upon its conversion from a partnership firm in accordance with the provisions of Part IX of the Companies Act, 1956 and received a fresh certificate of incorporation dated October 11, 2007 and a certificate for commencement of business dated December 14, 2007 from the RoC.

The company is a super-premium and luxury furniture brand in India and among the few home-grown super-premium and luxury consumer brands in India operating at scale in terms of manufacturing as well as retail operations. It has the distinction of being among the first few Indian companies to venture into the super-premium and luxury furniture segment and one of the few Indian companies present across various price points, i.e., super-premium, luxury and ultra-luxury segment, through its various brands. The company retail its furniture products under the ‘Stanley’ brand. Over the years, it has developed brand recognition and customer loyalty through its quality products, as well as targeted marketing strategies and advertisement campaigns such as ‘Beautiful Living’, ‘Design Glamour’, ‘Luxury Unlimited’ and ‘Bed of Dreams’. Its customers are its ambassadors, that generate publicity for the ‘Stanley’ brand through testimonials and endorsements and word of mouth advertising.

The company designs, manufactures and retails its products through its own network of ‘company owned and company operated’ and ‘franchisee-owned and franchisee-operated’ store with pan-India presence. Its in-house manufacturing operations coupled with its retailing model, differentiates it from other Indian and foreign furniture brands. Its integrated model provides it with the ability to have complete control over its processes, ranging from procurement of raw materials, designing its products, manufacturing, quality control, marketing, and ultimately sale of its products. The company market and sell its products through its network of stores. Over the years, it has significantly expanded its network of stores and as of December 31, 2023, it operated 38 ‘company owned and company operated’ or ‘COCO’ stores all located in the major metro-cities of Bengaluru, Chennai, New Delhi, Mumbai and Hyderabad and 24 ‘franchisee-owned and franchisee-operated’ or ‘FOFO’ stores in 21 cities across 11 States and Union Territories in India. In addition, in certain cities in India, it has also experimented with a hybrid concept, where it may have different store formats under one large store in order to efficiently utilize the real estate and provide an opportunity to its customers to experience the complete ‘Stanley’ brand experience under one roof. 

Business area of the company

The company ventured into Leather Sofas in 1999 and then gradually diversified into Full Home Solutions. Today, it offers a spectrum of collections for the Living Room, including Sofas, Coffee Tables, TV Cabinets, Storage Units, and Side Tables. For the Kitchen & Dining area, it provides Kitchen Cabinets, Dining Tables, and Storage Units. Additionally, for Bedrooms, its range includes Beds, Mattresses, and Wardrobes. 

Awards and accreditations

• 2020: Received “Best Large Stand” award at Australia International Furniture Fair.
• 2023: Implemented Occupational Health and Safety Management System in accordance with ISO 45001:2018 for manufacturing and supply of upholstered home and office furniture, car seats, leather products and kitchen cabinets by TUV SUD South Asia Private Limited.
• 2023: Implemented Quality Management System in accordance with ISO 9001:2015 for manufacture and supply of genuine leather upholstery by TUV SUD South Asia Private Limited.
• 2023: Implemented Environmental Management System in accordance with ISO 14001:2015 for manufacture and supply of genuine leather upholstery by TUV SUD South Asia Private Limited.
• 2023: Received Greenguard Certificate of Compliance for Manufacture, Supply & Installation of Furniture Like Sofa, Chairs, Table, Mattress, Beds, Leather Shoe, Bag, Metal Fabricated Furniture, Kitchen, Cabinets and Modular Furniture.

Major events and milestones

• 2007: The company’s Promoters started a partnership firm in the name of ‘Stanley Seating’.
• 2008: ‘Stanley Seating’ was converted from a partnership firm to a public limited company in the name of ‘Stanley Lifestyles Limited’.
• 2011: The company opened its first franchisee owned franchisee operated store in Kochi, Kerala. 
• 2012: The company opened its first company owned company operated store in Bengaluru, Karnataka.
• 2012: The company opened its first store in Chennai, Tamil Nadu.
• 2018: Incorporation of the company’s Subsidiary ‘Shrasta Decor Private Limited’ through a joint venture agreement dated June 2, 2017 entered into between Stanley Retail Limited, Sharmila Manghnani and Rajesh Manghnani, and opened its first ‘company-owned company operated’ store in Hyderabad.
• 2019: Raised funding of an amount of Rs 1,000 million from Oman India Joint Investment Fund II, pursuant to the SSHA.
• 2019: The company opened its first store under ‘Sofas & More by Stanley’ format to offer products which fall in the mid high category.
• 2019: The company opened its first store under ‘Stanley Level Next’ format to offer luxury products.
• 2021: The store count of the company increased to 25 stores.
• 2022: The company opened its first ‘company owned company operated’ store in Delhi.
• 2023: The store count of the company increased to more than 50 stores.