Online furniture marketplace Pepperfry records 47pc rise in revenue in FY19
Online home furniture marketplace Pepperfry has reported annual revenue of Rs 207 crore, a 47 percent rise in FY19, according to the RoC filings with the Ministry of Corporate Affairs.
Pepperfry, which is owned and operated by TrenSutra Cyprus Limited, reported annual revenue of Rs 140.60 crore in FY18.
According to the filings, the online furniture startup's losses widened 72 percent in FY19 to Rs 183 crore compared to last year. Its total expense in the financial year was reported to be at Rs 390 crore, of which 43.7 percent was spent on advertising.
The startup also increased its ad spend by over 88 percent to Rs 4.12 crore from Rs 1.49 crore in the year-ago period. Similarly, its data hosting and technology expenses increased from Rs 6.22 lakh to Rs 25.10 lakh in FY19.
Pepperfry's revenue from operations include commissions from suppliers of goods with whom the company has a contractual arrangement, it reported. Currently, it operates in one business segment - commission earned on the sale of products through its website.
Co-founded by former eBay employees - Ambareesh Murty and Ashish Shah in 2012 - Pepperfry started as a horizontal online marketplace focussing on fashion and lifestyle. Today, it is one of the leading online furniture startups in India and has raised $197.5 million across six funding rounds so far.
The online furniture startup is backed by Bertelsmann India Investments, Norwest Venture Partners, Goldman Sachs, and Zodius Capital.
The online platform provides customers with a wide section of furniture and home products, claiming to be the largest B2C distribution company in the country.
In an earlier conversation with YourStory, founders Ambareesh and Ashish said that southern India accounts for up to 45 percent of Pepperfry's sales, with Bengaluru contributing about 30 percent. Mumbai and Delhi-NCR stand at 20 and 24 percent respectively, and the rest of its orders come from the east.
(Edited by Suman Singh)