Pepperfry to invest about Rs 85 crore on expansion

Pepperfry to invest about Rs 85 crore on expansion
04/03/2019 , by , in ALLIED

The company aims to touch a GMV (gross merchandise value) of USD 1 billion by March 2021 as it scales up its operations across metros and tier I and II cities. Furniture and home products marketplace Pepperfry expects to pump in about USD 12 million (over Rs 85 crore) this year as it sets up over 100 offline stores and strengthens its supply chain operations to reach more customers.

 

The company aims to touch a GMV (gross merchandise value) of USD 1 billion by March 2021 as it scales up its operations across metros and tier I and II cities. “The omni-channel strategy has worked well for us. Our studios (offline stores) drive tons of engagement and also see 1.8X repeats. Most studios break even within 4-7 months,” Pepperfry COO and founder Ashish Shah told. He added that currently, the company has 42 such studios with 12 under franchisees and the remaining 30 are owned and operated by the company. Through its ‘Studio Pepperfry’, the company showcases a curated range of furniture from its online portfolio. It also offers interior designing consultancy at these stores.

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