Pepperfry, the furniture retailer on Wednesday said that it has narrowed the losses to Rs. 169.26 crores for this on going financial year and the reduction in the overhead costs.
The company TrenSutra Group that operates under the Pepperfry brand had previously posted the loss of Rs. 248.50 crores in 2017. “Over the last few years, we focused on strong unit economics and building a business that truly benefits from economies of scale,” Pepperfry founder and CEO Ambareesh Murty said.
The revenue in this year has grown by 20 per cent from 257.96 crore to 308.46 crore in the the previous year. The company has derived the scale efficiencies with the supply chain automation, high vehicle utilization and improved delivery success rates along with the productive staff.
In addition to that, due to tight budget controls, Pepperfry has even achieved 17 percent year on year reductions in the overheads. Pepperfry competes against the Urban Ladder as well as the large online retailers those include Amazon and Flipkart.
The company is also expanding the house brands into various categories like matresses and is also enhancing its modular furniture thereby offering and introducing the services like Furniture Exchange offers.
Pepperfry has even doubled the footprint of its Pepperfry Studio thereby reaching out to 28 studios across the four existing one and eight in to new cities. “Studios augmented Pepperfry’s consumer loyalty by expanding the repeat customer base and driving higher order values,” it added.