By Asmita Dey
Bengaluru-based furniture and home décor retailer Urban Ladder posted 137.60% jump in revenues in the year ended March 31, 2018, according to data sourced from business intelligence platform Tofler.
Revenue from operations rose to Rs 96.64 crore in FY18 against Rs 40.67 crore reported in FY17.
The company’s net losses narrowed by 74% in FY18 to Rs 118.66 crore compared to Rs 457.69 crore losses recorded in the year ago period, the data showed.
“For the time to come, Urban Ladder is looking to transform itself into a complete purchase experience for the customer through amalgamation of its retail and e-commerce front by executing its omni-channel strategies.
“Urban Ladder aims for this unique customer experience to have a positive horizontal impact on business, across platforms,” the company said in the RoC filing.
The firm is looking to aggressively grow its retail store-front presence by cultivating multiple outlets across 10 major cities of the country, it added.
Urban Ladder, which started as an online marketplace, forayed into the brick-and-mortar space and currently has offline stores in Delhi-NCR, Bengaluru and Pune.
In April 2018, co-founder and chief operating officer Rajiv Srivatsa told in a magazine interview that the company plans to open about 20 stores by March 2019.
The company is banking on its offline expansion strategy to turn profitable as it gears up to get listed by 2021.