Urban Ladder, an Online furniture marketplace has been granted the single brand retail trade (SBRT) licence by the Department of Industrial Policy & Promotion (DIPP). With this governmental approval, the company believes that it will help them to build a strong offline presence across the country.
Commenting on the development, Ashish Goel, Chief Executive, Urban Ladder told ET, “The SBRT licence is a huge vote of confidence and encouragement from the government to young, Indian companies like ours. This licence helps us at Urban Ladder build a brand that can pursue its ambitions as well as help shape the economy impactfully.”
The firm had applied for a single brand licence during September last year as a strategic shift to be an offline retailer. The licence will give the Bengaluru-based company more flexibility with its designs and product sourcing. It will also help in tightening its supply chain and maintaining healthy inventory.
It was in 2012 when the founders Ashish Goel and Rajiv Srivatsa were trying to set up their homes in Bangalore, they spent a lot of effort trying to get quality furniture and home decor. Conversations with friends gave one clear message – there is a big need for good quality, well-designed, competitively priced and dependable furniture. Indian home-makers are looking for a solution that could help them make beautiful homes, without too much hassle. Existing brands were either poor on quality and service or too highly priced.
Wondering if there could be a better solution, the founders spent close to 6 months understanding the very basics of the furniture industry and the home décor space, from the raw materials stage through the entire manufacturing process to packaging and shipping the products across India.
After some intense planning, trials and discussions with the best manufacturers across India and the world, and hundreds of consumer interviews, the founders narrowed down on a solution that could get distinctive products, manufactured well at prices that consumers would find practical. And thus was born the journey of Urban Ladder.Earlier this year, Urban Ladder launched its first experience
Earlier this year, Urban Ladder launched its first experience centre in Bengaluru, which will now be converted into a retail store as a result of the licence approval. The company plans to set up more stores across the country and aims to be profitable in the next 18-20 months along with plans to file for an IPO in three years.
Commenting on the development, Ashish Goel, Chief Executive, Urban Ladder told ET, “The SBRT licence is a huge vote of confidence and encouragement from the government to young, Indian companies like ours. This licence helps us at Urban Ladder build a brand that can pursue its ambitions as well as help shape the economy impactfully.”
The firm had applied for a single brand licence during September last year as a strategic shift to be an offline retailer. The licence will give the Bengaluru-based company more flexibility with its designs and product sourcing. It will also help in tightening its supply chain and maintaining healthy inventory.
It was in 2012 when the founders Ashish Goel and Rajiv Srivatsa were trying to set up their homes in Bangalore, they spent a lot of effort trying to get quality furniture and home decor. Conversations with friends gave one clear message – there is a big need for good quality, well-designed, competitively priced and dependable furniture. Indian home-makers are looking for a solution that could help them make beautiful homes, without too much hassle. Existing brands were either poor on quality and service or too highly priced.
Wondering if there could be a better solution, the founders spent close to 6 months understanding the very basics of the furniture industry and the home décor space, from the raw materials stage through the entire manufacturing process to packaging and shipping the products across India.
After some intense planning, trials and discussions with the best manufacturers across India and the world, and hundreds of consumer interviews, the founders narrowed down on a solution that could get distinctive products, manufactured well at prices that consumers would find practical. And thus was born the journey of Urban Ladder.Earlier this year, Urban Ladder launched its first experience
Earlier this year, Urban Ladder launched its first experience centre in Bengaluru, which will now be converted into a retail store as a result of the licence approval. The company plans to set up more stores across the country and aims to be profitable in the next 18-20 months along with plans to file for an IPO in three years.
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