Jaipur, Sep 19 (PTI) Leading handmade rugs manufacturer Jaipur Rugs on Thursday said it expects a more than three-fold jump in revenue during its annual month-long sale event ‘Rug Utsav’ this year, benefitting more than 40,000 rural artisans.
The company has launched its annual sales festival - Rug Utsav 2024 - at its stores in India as well as 17 global locations in Milan, Dubai, China and Russia.
“With an expanded presence across the country, we are setting our sights even higher, projecting revenues to reach Rs 50 crore, as we continue to bridge tradition with a global audience,” the company said in a statement.
Last year, the company achieved ₹15 crore in sales from its stores across India, including online channels.
The company opened new stores in Pune and London. It clocked an annual turnover of Rs 975 crore in the last year.
Jaipur Rugs, which claims to be the world’s largest handmade rugs manufacturer, is also tapping online channels to boost sales. Its products are available on leading online retailers in India.
The company is also unfazed by the upcoming mega sales events of e-commerce majors like Amazon, saying online buyer demographic differs significantly from those visiting physical stores. “Both platforms serve distinct audiences, complementing rather than competing with each other,” the company said.
Jaipur Rugs works directly with more than 40,000 rural artisans of which 85 per cent are women.
“Rug Utsav connects rural artists’ innovation with patrons and it is a tribute to the hands that weave magic into every knot and carry the legacy of our rich heritage forward.”, Jaipur Rugs Director Yogesh Chaudhary said.
Jaipur Rugs works directly with artisans and empowers them and their communities with a sustainable livelihood, Chaudhary added.