Urban Ladder sees revenue double and losses narrow in FY18

By

Isabelle Crossley

Published
Dec 31, 2018

Urban Ladder managed to double its revenue and narrow losses by 74.4 percent during the previous fiscal year aided by offline retail expansion.

Urban Ladder Home Décor Solutions, a furniture, homeware, and textile brand, reported a successful 2018 financial year. The brand’s financial results were sourced by the business intelligence platform Paper.vc. after the business filed them at the Ministry of Corporate Affairs.

The results showed revenue reach Rs 204.73 crore ($30.77 million) for the 2018 financial year which constituted a 100 percent increase from the 2017 financial year’s total of Rs 101.87.

The business also reduced its losses by a sizeable 74.4 percent during the 2018 financial year to reach Rs 117.32 crore down from Rs 459.11 crore the year before. This is an impressive feat considering the business opened several brick-and-mortar stores during that time.

As well as bringing down losses, the business also brought down its expenditure from Rs 560.99 crore in the 2017 financial year to Rs 284.91 crore in the 2018 financial year. The Bengaluru-based company had previously stated that its expenditure rate was too high and it has now got spending under control.

Urban Ladder aims to turn profitable by December 2019 and is aiming for a potential listing in the next three years. The brand’s co-founder and chief executive, Ashish Goel, told Mint that the business aims to raise funds over the coming year to expand offline.

The business, launched in 2012, has raised $103 million so far.