Bennett, Coleman & Co Ltd, which operates as Times Group has invested in a furniture rental start-up from Gurgaon called Cityfurnish.com.
Brand Capital, the investment arm of Times Group has funded the startup but the amount has still not been disclosed.
Cityfurnish, which currently works in Delhi, Gurgaon and Bangalore, aims to use the multiple publications of Times Group to advertise its brand.
As more and more people are locating to different cities, this tie-up will help the startup in penetrating into other cities as a rental space for premium lifestyle products, and with local unorganised vendors present, that space is still very open.
Neerav Jain, Founding Director of Cityfurnish said, “We are happy and excited about our new association with Times Group. We intend to leverage their ability to build brands through their prestigious advertising channels. We foresee a new elevated status for our brand, which shall help us expand faster in new cities.”
“Currently, Cityfurnish offers a variety of home furniture and furnishing on affordable monthly rental plans. It has also launched a new category of exercise equipment recently. We want to become a one-stop solution for premium lifestyle products on rent,” he said.