Pepperfry losses down to Rs 169 crore, revenue jumps 20 percent
today Oct 11, 2018
Indian furniture retailer Pepperfry has managed to narrow its losses to Rs 169 crore (approx $22.8 million) for the financial year 2017-18 as compared to the Rs 248.5 crore losses it had posted last fiscal.
Pepperfry also witnessed a 20 percent jump in its revenue to Rs 308 crore from Rs 258 crore it had reported in the previous fiscal.
Ambareesh Murty, founder and CEO of Pepperfry in a statement, said, “Over the last few years, we focused on strong unit economics and building a business that truly benefits from economies of scale. With this strong foundation in place, we are now all set to extend our brand into new growth opportunities in the home interiors and furniture space.”
“The company has derived scale efficiencies through supply chain automation, high vehicle utilisation, improved delivery success rates and staff productivity. Further, Pepperfry achieved 17 percent year-on-year reduction in overheads through tight budget controls,” he added.
During the fiscal year, Pepperfry expanded its product portfolio across categories and also doubled its retail footprint with the addition of 14 studios across India.
The online furniture and home products marketplace Pepperfry is owned and operated by the TrendSutra group of companies.
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