What went wrong with Urban Ladder?

What went wrong with Urban Ladder?

Due to lack of network effects, high acquisition costs, large capital investments, and well capitalized horizontal players, there may just be one. That one was not UrbanLadder. Things took a turn for the worse as one of the co-founders and the earliest investors on its board resigned on the same day in Oct 2019.

Is Urban Ladder closing down?

Urban Ladder is now looking to cut costs as well and speed up delivery by shutting down 3 of its warehouses at its Bangalore headquarters. “Profitability will be a big focus area for us, especially over the next 12 month. We started the journey to become profitable some 15 months back.

What is the business model of Urban Ladder?

Urban Ladder has both online and offline business model for distribution. The company delivers and installs all the products it offers. The brand has also put its products on marketplaces Amazon and Flipkart.

Is Urban Ladder profitable?

According to its RoC filings, Urban Ladder reported a net profit of INR 49.41 Cr in FY2019, a huge improvement from the INR 118 Cr loss it posted in the previous financial year. It also recorded total revenue of INR 434 Cr in FY2019, a whopping 187\% year-on-year jump compared to FY2018.

Why did Reliance buy urban ladder?

“The aforesaid investment will further enable the group’s digital and new commerce initiatives and widen the bouquet of consumer products provided by the group while enhancing user engagement and experience across its retail offerings,” Reliance said in the filing.

Is Urban Ladder acquired by Reliance?

Reliance Industries Ltd’s subsidiary Reliance Retail Ventures Ltd has purchased 96\% stake in online home decor company UrbanLadder for Rs 182.12 crore.

Who owns urban company?

Urban Company co-founder Abhiraj Bhal said it is important to have a brand which is globally acceptable. “From the neighbourhoods of Darling Harbour in Sydney to the condominiums of Gurgaon, Urban Company is a simple name with universal appeal.

Why did Reliance buy Urban Ladder?

How much did Urban Ladder raise?

Urban Ladder raised a total of $114.9 million in funding over nine rounds from investors, touting big names such as Steadview Capital, Sequoia Capital India, Kalaari Capital, and others, according to data from Crunchbase. The last funding round was in November 2019 for about ₹15 crore.

Is Urban Ladder taken over by Reliance?

Reliance Industries’ (RIL’s) retail arm has acquired 96 per cent stake in Bengaluru-based online furniture retailer Urban Ladder for over Rs 182 crore.

Why did Urban Ladder sale?

Then it was hit by the pandemic. As salary cuts and job losses were the order of the day across industries, Urban Ladder began to lose out, as the furniture that it sold sported fancy price tags, which wasn’t attractive anymore to the consumers.

Is Zivame taken over by Reliance?

Last year, RRVL had acquired a minority stake in Actoserba Active Wholesale, which owns and operates online lingerie store Zivame.