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Online furniture store Urban Ladder to cover 25-30 cities by 2016

The company currently offers furniture solutions in New Delhi, Mumbai, Bangalore, Chennai, Pune and Hyderabad

N Madhav  |  Hyderabad 

Online furniture store Urban Ladder plans to reach out to shoppers across 25-30 cities in the next two years. As part of this, it will start accepting bookings for delivery in Ahmedabad from May this year and Chandigarh, Jaipur, Surat, Goa and Kochi from September, said its founder and CEO Ashish Goel.

The company currently offers furniture solutions in New Delhi, Mumbai, Bangalore, Chennai, Pune and Hyderabad while operating from Rajasthan and Bangalore as major sourcing hubs and Mumbai, Pune and Delhi as other sourcing centres.

Goel said it was getting 15,000 website visits daily and was executing 100-200 transactions with an average ticket size of Rs 20,000 on a daily basis. "Our business is growing at the rate of 15-20 per cent every month," he said. It expects to achieve business breakeven by May next year, he added.

For making payments easier the company, in partnership with Bajaj Finserv, would start offering seamless financial services to buyers soon, Goel said.

According to its internal survey, Urban Ladder has pegged the current online furniture market at Rs 200 crore with a potential to touch Rs 1,000 crore by 2016.

When asked about plans for another round of funding, he said: "If we see a strong customer demand we may be incited to go for next round of funding in the next two years," Goel said.

In November 2013 Urban Ladder announced it has raised $5 million from SAIF Partners and Kalaari Capital in series A funding. It had earlier raised $1 million from Kalaari Capital in August 2012. It was launched in July 2012.

Urban Ladder offers close to 25 categories in furniture such as beds, sofas, dining tables, coffee tables, and has over 500 products for shoppers to choose from.

Heaquartered in Bangalore, it works with a team of 200 individuals.

 

First Published: Tue, April 08 2014. 17:24 IST
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