E-commerce furniture and home goods marketplace, Pepperfry on Tuesday announced the elevation of its co-founder, Ashish Shah, to the position of Chief Executive Officer (CEO). Ashish Shah co-founded the company alongside Ambareesh Murty in 2012 and has experience spanning two decades in the Indian e-commerce landscape. Ashish Shah has been heading operations, category management, product and omnichannel business as the COO of the company and has played “pivotal role in shaping Pepperfry’s customer-centric strategy, supply side strengths and operational excellence”.
The appointment followed the untimely demise of Ambareesh Murty, Pepperfry’s co-founder and former CEO. “Under Ambareesh’s leadership, Pepperfry ushered in a transformative era in Indian furniture and home goods online shopping marketplace. It established a platform renowned for its unique blend of quality, affordability, convenience and revolutionising the way Indian consumers shop for furniture,” the company said.
“Pepperfry has always been committed to enhancing the way people create homes, and I am honoured to lead this incredible team of dedicated individuals who share this passion. The best tribute to Ambareesh will be to build on the foundation laid by us and fortify Pepperfry’s position as India’s leading furniture and home products company,” said Ashish Shah.
Over the past 3 months, Pepperfry’s co-founders have secured $23 million in funding from existing shareholders, including institutional investors and family offices, underscoring their confidence in the company’s vision and strategic plans for the future.
The latest round of capital infusion will strengthen Pepperfry’s ability to cater to the evolving needs of its 10 million+ and increasing customer base through a strong omni channel presence, a robust supply chain and tech driven innovation. Pepperfry has a retail presence spanning 190+ studios in over 100 cities.
Pankaj Makkar, MD, Bertelsmann India Investments, said, “We’ve been partners with Pepperfry for nearly a decade now. I’ve seen the company grow quickly, thanks to the capable leadership of co-founders Ambareesh and Ashish. After Ambareesh’s unfortunate and untimely passing, it’s only natural that Ashish takes the helm as CEO. He will continue to lead the company towards a promising future, driving excellence across all areas of business and technology.”