Company News
Urban ladder opens store in Puneedit
Urban Ladder, India’s largest furniture brand, with a nation-wide online presence, having successfully launched 11 stores in New Delhi and Bengaluru, now makes its mark in Pune, a statement said on Thursday. According to the statement, the store launch was marked by an inaugural meet and greet hosted by Ashish Goel, CEO and Co-Founder of Urban Ladder with a select group of eminent writers in the city on Wednesday.When asked about Pune as the city of choice for Urban Ladder, Ashish Goel, CEO and Co-Founder, Urban Ladder opined, ”We are very excited to launch our store in Pune.
Date : September 27, 2019
Pune store launchThese marquee Indian startups could be lining up for some big-bang IPOsedit
Startups might be looking at new avenues to raise money. And , thanks to their popularity with consumers, it is possible for them to raise it from the public. As the IPO fever has gripped the US markets, Indian founders are watching their performance closely. In spite of tepid response that Uber received and WeWork’s debacle, Indian startups are stubbornly working towards taking their companies public.
Publication : Business Insider India
Date : September 25
IPOsCompetition and Industry News
Pepperfry eyes profitability this year, IPO next yearedit
The online furniture company, Pepperfry, said that itis on course to become a profitable entity in this calendar year and will look forward to launch its IPO in the next 14-15 months. “Our business is growing like a rocket ship. We are growing today faster than we were growing last year. We are making margins higher than last year. The way things are going we may move very close to profitability during the year,” said Ambareesh Murty, founder, and CEO at Pepperfry.
Publication: ET Retail
Date: September 26, 2019
IPOPepperfryCCI lens on deep discounting could be a double-edged swordedit
The e-commerce landscape continues to attract regulatory attention. The latest is the Competition Commission of India (CCI) reportedly keeping a close watch on deep discounts offered by e-commerce marketplaces.“Deep discounts could make some businesses unviable as it erodes the value of products and services in the mind of the consumer if done for extended period”, the Economic Times quoted CCI chairperson Ashok Kumar Gupta in its report. The development comes at a time when e-commerce marketplaces are gearing up for their special discounted sales timed around the festival season.
Publication : Moneycontrol
Date : September 24, 2019
CCIDeep discountingIKEA’s online sales surge 43%edit
IKEA’s online sales surged 43% in the 12 months to the end of August, helping to drive overall retail sales at the world’s biggest furniture group 6% higher, based on local currencies, brand owner and franchisor Inter IKEA said on Wednesday.Retail sales – or sales of products and services at all 433 IKEA stores and online sites – came in at 41.3 billion euros ($45.4 billion), an increase of 6.5% from the previous fiscal year when accounted for in euros, it said in a statement.IKEA, known for its giant out-of-town budget furniture stores, is investing heavily in adapting to new shopping habits and online competition.
Publication : ET Retail
Date : September 26, 2019
IKEA
Amazon, Flipkart to generate $4.8 billion sales during 2019 festive seasonedit
E-commerce players, including Amazon and Flipkart, can expect to generate sales of over $4.8 billion during this year’s festive month (September 29-October 4), but the growth over last year will be subdued, according to research by Forrester. About 80 per cent of these sales will occur between September 29 and October 4 — the period in which Flipkart and Amazon will hold their ‘Big Billion Days’ and ‘Great Indian Festival’ sales.Year-over-year growth in online retail spending during these five days will take a hit, from 93 per cent in 2018 to 32 per cent in 2019.
Publication : The Hindu Business Line
Date : September 26, 2019
AmazonFlipkart