Company News
Urban Ladder eyes profitability by next December, IPO in 3 yearsedit
Online furniture retailer Urban Ladder aims to turn profitable by December 2019 to prepare for a potential listing in three years, said its co-founder and chief executive. The company also plans to raise funds over the next 12 months to aggressively grow its offline presence by opening more physical stores, even as the broader online furniture retail business in India struggles to attract investor interest.
Publication: Mint Live (Online)
Date: November 23, 2018
Competition and Industry News
60% India marketers plan to increase technology spends in 2019edit
Epsilon released the commissioned study ‘Marketing in India is personal, not just business’ conducted by Forrester Consulting. The findings revealed the huge chasm between what marketers believe they need to do to reach consumers, and what consumers actually prefer.
Publication: Best Media Info (Online)
Date: November 22, 2018
Touchpoints: That’s big boy IKEA’s small idea to go onlineedit
Known for its large warehouses on the city outskirts, Swedish furniture and home accessories company IKEA is now betting on smaller stores. These stores will work as experience centres and are expected to push online sales. At present, Ikea only opens large outlets ranging from 400,000 sq ft which are mostly located in the outskirts of a city. IKEA opened its first store in India in July, which is a 400,000 sq ft facility. It is building three fulfilment centres (packing warehouses) in Mumbai, Bengaluru and Delhi.
Publication: The Economic Times (Online)
Date: November 22, 2018