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Jeremy Fennema – Tech Innovation Alchemist
IWG is weighing out whether to double its coworking footprint in India over the next 36 to 48 months, noting the potential that Tier II cities hold for the company.
“In each of the Tier II cities, we have tasted tremendous success,” said Harsh Lambah, Country Manager at IWG India. “In Indore, we have opened our third workspace. In Ahmedabad, we are going from two to four workspaces. In Chandigarh, we have opened two. We have expanded in Visakhapatnam and Jaipur. There is a lot of commerce happening there, and hence a lot of potential in Tier II cities.”
The company will use three different strategies to continue its expansion in the country: organic growth, acquisition and franchising.
IWG’s most popular method has been its franchise model that has been rolled out in Japan, Taiwan and will soon launch in India through its Regus and Spaces brands. The firm also plans on expanding its three other brands in India next year, but for now it is focused on coworking.
Lambah said that the coworking market has seen a lot of consolidation, but that IWG has yet to find a deal that would add value to their business.
