Pepperfry eyes Rs 6,500 revenue by 2020, open to selling Ikea products

By

Maverick Martins

Published
Jun 22, 2018

Indian furniture and home products major Pepperfry is eyeing revenue of Rs 6,500 crore (approx $960 million) over the next three years as it aims to turn profitable over the next 18 months.
 

The company is looking to scale up its operations and ramp up its private labels from which it expects to generate Rs 3,000 crore by 2020. Pepperfry had posted sales revenue of Rs 1,000 crore for the fiscal 2017-18.
 
Pepperfry, which currently holds 60% market share of the online traffic in this segment, according to a data from Similarweb, is unperturbed with Swedish furniture major Ikea’s entry into the Indian market. On the contrary, the company is looking to forge an alliance with the Swedish major to sell their products on its platform.

“With a vision to be in 20 million homes by 2020, we are expanding with a CAGR of 80% and building brand extensions. We make 45% gross margin and are already profitable at the pre-marketing level and will turn profitable in the next 12-18 months,” Pepperfry chief category officer Hussaine Kesury was quoted as saying by Financial Express.
 
“We are open to talks with Ikea to sell their products on our marketplace,” Kesury added.
 
The company is currently has 36 offline studios across India and targeting to touch 70 studios by the end of the current financial year. Pepperfry has more than 10,000 sellers and 200-odd merchants in the furniture and home segment.