Urban Ladder Eyeing to Raise $35-40 million for Offline Growth
Online furniture retailer Urban Ladder is eyeing to secure funds amounting to $35-40 million. The company’s future growth seems to lie in traditional brick-and-mortar stores.
After securing a single-brand-retail trade licence the previous year, Urban Ladder set up six large-format stores in Bengaluru and Delhi-NCR that now account for more than one-third of its total revenue.
“We spent the last year testing our offline model,” said chief executive Ashish Goel. “Now that we know it works, we are going to start expanding our offline stores aggressively.”
The basic purpose of the company against raising these funds would be to expand its offline presence, adding stores in Mumbai, Chennai and Pune by January.
Goel wants the company to be operationally profitable (at the Ebitda level) b...
