In Startup50 2017: Pepperfry is an online furniture retail company that has served over four million customers since starting up in 2011. It has recently extended into the offline world as well through its 25 stores. Pepperfry raised Series-E of US $13 million from Zodius and Goldman Sachs amongst its investors and employs more than 970 people in its team.
Founders: Ambareesh Murthy & Ashish Shah
Since inception in 2011, the company raised about $160 million from investors. The company plans to expand its logistics network from the current 500 to more than 1,000 cities and open more experience centres, called Pepperfry Studios, in smaller towns and cities.
Pepperfry is also foraying into furniture rentals to strengthen volumes and expand its customer base. It will be available in Mumbai, Bengaluru, Delhi, Gurgaon, Hyderabad, Pune, Chennai, Noida and Ahmedabad to begin with and then expanded to Cochin and Chandigarh in the next six months.
The company posted revenues of Rs.98 crore for 2016 as against Rs.25 crore in FY15. It posted losses of Rs.154 crore in FY16 as against Rs.80 crore in the corresponding period last year, caused by significant increase in advertisement spends according to reports. It is targeting Rs 3,000-crore in revenue by March 2018.
Customers served – 4 million
Offline stores owned – 16
Franchise stores – 9
50 % – Reduced cost of delivery to homes in FY17 by 50%
Reduction in delivery time – 9 days
Rs 3,000 crore – Revenue target for FY18
2 lakh products – In the furniture and home vertical