Pepperfry is planning to generate funds in tune of $150-$200 million
Pepperfry aims to generate $1 Billion in gross merchandise value by March 2021
Pepperfry will invest almost $15 million this year to start 100 Pepperfry stores
Pepperfry is an E-commerce furniture and Home Appliances store which offers more than 12 million products in the furniture and home vertical with various categories like Furniture, Home Decor, Lamps & Lights, Kitchen, Hardware, and Electronics. It was founded in 2011 by former eBay executives Ashish Shah and AmbareeshMurty. The Mumbai based company was started under Trendsutra Platform Services Pvt. Ltd.
Pepperfry is the country’s largest furniture and home appliances company aims to generate $1 Billion in gross merchandise value by March 2021. Pepperfry will assertively launch stores, extend its private brands, launch offshore operations and start investing in technologies, to achieve the targeted one-billion-dollar target.
The company is also planning to generate funds in tune of $150-$200 million this year to stimulate the expansion plans, said Ashish Shah. In the past six rounds of funding, Pepperfry has managed to generate $200 million. Shah added, Pepperfry will invest almost $15 million this year to start 100 Pepperfry stores in top cities in India.
“In order to stimulate our growth and expansion a GMV of billion dollars we will be starting 100 new stores in top eight cities of India. We aim to pursue this growth speed for the next 4 years. We will start company-owned stores in other towns as well,” Shah said.
The industry is heavily relied on an external service provider, in which Pepperfry is amalgamated with 10,000 suppliers. Pepperfry now owns three warehouses across the country, with the Mumbai being the biggest at 2,85,000 square feet and 22 dispatch centres. The brand will soon introduce a new warehouse in Bangalore this year.
Currently, Pepperfry’ 42 stores are settled in 18 cities which generates around 30% of the company’s total revenue. Shah trusts that the revenue from the physical stores can make it up to 45% in the next two years. The e-furniture firm is also starting its operation in Australia this year.
“We will be launching the physical stores and e-services in Australia within the next six months. After Australia, we will aim to start services in some Southeast Asian countries,” Shah said.
Pepperfry has been successfully established its position as a forefront brand in the housing and furniture market with an online traffic share of 60%. The company is growing at a CAGR of 83% and aims to grow 100% for the next three years to hit its billion-dollar dream by March 2021.
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