~ Fueled by 94% local value addition in FY24 ~
Bengaluru, January 10, 2024: Godrej & Boyce, the flagship company of the Godrej Group, announced that its business Godrej Interio, has witnessed a surge in the demand for environmentally sustainable products. The leading furniture solutions brand stated that they are expecting up to 42% of their revenues in FY24 to be derived from good or green products and has set an ambitious plan to soar beyond and secure a minimum of 50% of their revenue from this segment, by 2032.
Following the same values and philosophy as the parent company, Godrej Interio aims to achieve their Good & Green targets by focusing on building a green, efficient and most importantly a local supply chain ecosystem. Currently the business has a 94% local value addition in FY24. Godrej Interio has been working with suppliers to train them on various subjects like energy efficiency, water conservation, renewable energy, GHG emissions, waste management, material conservation, recycling and recyclables, green supply chain and green infrastructure and ecology, Godrej Interio has been focusing on driving growth through a well-integrated supply chain.
Commenting on the sustainability initiative, Swapneel Nagarkar, Senior Vice President and Business Head, Godrej Interio said, “At Godrej Interio, we place a very high priority to developing a sustainable and well-integrated supply chain as a crucial aspect of our business competitiveness. We believe a strong, efficient, reliable and resilient supply chain will help us drive our business growth. This is achieved through a very strong supplier program, quality assessment and localization strategy. Through our Beyond Sourcing supplier program, we have been facilitating a supply chain ecosystem that is aligned to our commitment towards offering consumption choices to our customers and in turn build a greener and a more self-reliant future”.
He continues to reiterate thee company’s commitment towards its sustainability goals by saying, “Our sustainability strategy prioritizes eco-conscious materials and an expanding range of ergonomically designed furniture. Our ‘Green Assured’ logo on ‘GreenPro’ certified furniture products serves as a guiding light, steering customers towards environmentally friendly and healthier choices”. Through optimized design, as well as use of engineered materials and efficient processes, Godrej Interio has created chairs with reduced material utilization but have high performance, delivering greater value to the customer.
Godrej Interio’s commitment to its sustainability goals are also reflected across its manufacturing locations. While more manufacturing facilities have been added, yet Godrej Interio proudly achieved water positivity status, a 28% reduction in carbon intensity, 41% reduction in specific energy consumption and a 10% reduction in specific water consumption since FY11. The brand has also implemented various technologies across all its manufacturing locations to minimize its impact on the planet.
This collective approach ensures minimal ecological impact and highlights its commitment to environmental stewardship and community well-being.
