Pepperfry
| File:Pepperfry logo.png | |
| Headquarters | Mumbai, Maharashtra, India |
|---|---|
| Area served | India |
| Key people | Ambareesh Murthy (Co-founder and CEO) Ashish Shah (Co-founder) |
| Industry | Furniture retailing |
| Products | Furniture, home decor |
| Website | https://www.pepperfry.com |
| Launched | July 2011 |
Pepperfry is an Indian online furniture marketplace launched in 2012. It collaborates with furniture sellers and merchants and connects them with consumers by listing their products on its website. It is active across 500 cities in the country with an approximate annual revenue of ₹127.5 crore (US$18 million) (FY17). It is India’s largest online furniture startup.
History[edit]
Pepperfry was founded by former eBay (India) executives Ambareesh Murty and Ashish Shah in July 2011. The website Pepperfry.com was launched in January 2012 to serve as an online marketplace for furniture and other home décor and furnishing products.[1][2] According to Bloomberg, Pepperfry is run by Trendsutra Platform Services Private Limited, a company registered and headquartered in Mumbai, Maharashtra.[3]
Business model[edit]
Pepperfry operates on a ‘managed marketplace’ model. It collaborates with SMEs in the furniture sector who showcase their products through the website.[4] According to The Hindu Business Line, it has an omnichannel presence, where besides the website, there are 36 brick-and-mortar studios. It opened its first offline studio in 2014. It also has tailored studios called ‘experience centres’ or Pepperfry Studio that provides customers an inclusive way to shop.[5][6]
As of 2018, Pepperfry has over 10,000 merchant partners.[7] It has a product catalogue of over one million products across categories like furniture, décor, lamps, bed and bath, furnishings, kitchen and dining, and hardware and electricals.[8] Pepperfry is active in 500 cities in India.[9]
As of August 2018, Pepperfry is India’s biggest online furniture player with a market share of 63% in the organized furniture space.[10][11][12] The same year, India Today reported that the company had begun providing furniture rental and exchange services.[13], tying up with Quikr for the latter.[14]
Funding[edit]
Pepperfry received its first seed funding of $5 million from Norwest Venture Partners India (NVP) in 2011. It further invested an additional $8 million in 2013.[15]
In 2014, both NVP and Bertelsmann Indian Investments invested $15 million in the online startup. At the end of the D funding round, the company had raised $189 million from investors including Goldman Sachs, Zodius Technology Fund and SSGA.[16][17]
Financial performance[edit]
In financial year 2016-2017, Pepperfry generated a revenue of ₹127.5 crore (US$18 million).[18]
Initiatives[edit]
In 2015, Pepperfry sponsored a part for the Indian Premier League franchise team Rajasthan Royals.[19] In 2018, it collaborated up with The Better India for the 'Happy Furniture Projects' to help NGOs across India.[20]
Awards[edit]
In 2012, Pepperfry won the Red Herring Top 100 Asia award as a recognition for its ‘innovative managed marketplace E-Commerce business model, strong business growth and the business platform’.[21][22]
See also[edit]
References[edit]
- ↑ Kotecha, Arushi (28 November 2017). "Pepperfry's recipe for success". Livemint.
- ↑ Umachandran, Shalini; J, Anand; Pillai, Shalina (7 February 2016). "First-mover advantage: Pepperfry reaping rewards of being the first online furniture retailer" – via The Economic Times.
- ↑ "Trendsutra Platform Services Private Limited: Private Company Information - Bloomberg". www.bloomberg.com.
- ↑ Kamath, Raghavendra (13 May 2013). "Finding a niche in the online home products market" – via Business Standard.
- ↑ Chengappa, Sangeetha. "Pepperfry goes the omni-channel way to boost sales". @businessline.
- ↑ Bhanver, Jagmohan; Bhanver, Komal (2017). Click!: The Amazing Story of India's E-commerce Boom and Where it's Headed. Mumbai: Hachette India. ISBN 978-9-35195-027-1. Retrieved 11 January 2019. Search this book on
- ↑ "Pepperfry bets big on own brands, open to talks with Ikea". 22 June 2018.
- ↑ "Will Pepperfry become another Amazon?". Rediff.
- ↑ Sangwan, Sujata. "Pepperfry is on Its Path to Become a Billion Dollar Company in the Next 2 3 Years". BW Disrupt.
- ↑ "Pepperfry, Flipkart Raise Fresh Funds To Counter Rival War Chests". HuffPost India. 28 July 2015.
- ↑ "Pepperfry: Carving out a niche". www.fortuneindia.com.
- ↑ "PepperFry". The Ken. 12 December 2017.
- ↑ September 20, P. T. I.; September 20, 2017UPDATED:; Ist, 2017 13:45. "Pepperfry launches furniture rental service in select cities". India Today.
- ↑ "Pepperfry ties up with Quikr for its 'Furniture Exchange program'". 11 January 2018 – via The News Minute.
- ↑ Sanjai, P.R.; Choudhary, Deepti (1 April 2013). "Pepperfry.com raises $8 million from NVP". Livemint.
- ↑ "Pepperfry raises $31M to expand its online furniture sales business in India".
- ↑ Carew, Rick (27 July 2015). "Goldman Sachs Bets on Indian Furniture Startup Pepperfry.com" – via www.wsj.com.
- ↑ S.H, Salman (11 December 2017). "Pepperfry narrows loss to Rs128.8 crore in 2016-17". Livemint.
- ↑ www.ETRetail.com. "Pepperfry.com celebrates one million customer milestone with Rajasthan Royals - ET Retail". ETRetail.com.
- ↑ "The Happy Furniture Project". The Better India.
- ↑ "2012 Asia Top 100". Red Herring.
- ↑ "Pepperfry.com Wins Red Herring Top 100 Asia Award For 2012". Sify.
External links[edit]
Category: Online retailers of India Category: Retail companies established in 2011 Category: Companies based in Mumbai Category:Indian furniture Category:Furniture retailers Category:Retail companies of India Category:2011 establishments in India Category:Indian brands
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