Urban Ladder

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Urban Ladder Home Decor Solutions Pvt. Ltd.
Urban Ladder Logo.svg
HeadquartersBangalore, India
Area servedIndia
Key peopleAshish Goel (CEO), Rajiv Srivatsa (CPTO)
IndustryHome & Furniture, Omnichannel Retailing
ProductsFurniture, Decor, Soft Furnishings, Mattresses
Launched2012

Urban Ladder is an omnichannel furniture and decor retailer based out of Bangalore, India. Urban Ladder currently has 3 stores in Bangalore and distribution across 75+ cities in India through its website.

History[edit]

Urban Ladder Home Decor Solutions was co-founded by Ashish Goel (CEO) and Rajiv Srivatsa (CPTO) in July 2012. Ashish Goel previously worked with McKinsey & Company and served as the CEO of Amar Chitra Katha. Rajiv Srivatsa previously worked with Cognizant and Yahoo! before co-founding Urban Ladder.[1]

Urban Ladder is a design-led, omnichannel brand which offers furniture and home decor. With over 5000 designs across 35 categories such as living, dining, bedroom, study, and decor, Urban Ladder was established as an online-first brand in 2012. In 2017, Urban Ladder made a shift to offline retail, in an effort to become an omnichannel brand. It opened its first flagship store in Bangalore on 8 July 2017 and currently has 4 offline stores in Bangalore. [2]

Funding[edit]

Urban Ladder secured seed capital of $US1 million from Kalaari Capital in August 2012. The company later raised another $US5 million in a Series A round led by SAIF Partners; Kalaari Capital too participated in the Series A funding.[3] The company subsequently raised $US21 million in Series B round of funding led by Steadview Capital, SAIF Partners and Kalaari Capital [4] Four months after the company raised Series B funding from Steadview Capital and existing investors SAIF Partners and Kalaari Capital, Urban Ladder received a personal investment from Ratan Tata, Tata Sons.[5]

On 9 April 2015, Urban Ladder announced that they had raised $US50 million in funding led by Sequoia Capital and TR Capital. Existing investors Steadview Capital, SAIF Partners and Kalaari Capital were also participants.[6]

Urban Ladder, raised an internal round of $12 million from investors Kalaari Capital, Saif Partners, Sequoia Capital, and Steadview Capital in February 2018. In combination with the $15 million raised in January 2017, these funds were used to further Urban Ladder’s omnichannel expansion, online and offline - a decisive step towards profitability in FY 18-19. With a $27 million infusion over 12 months, Urban Ladder's omnichannel approach and profitability push will help it build a powerful retail brand.[7]

Acquisitions[edit]

Urban Ladder had acquired Gurgaon-based furniture and home decor marketplace BuynBrag in 2014.[8] The acquisition was aimed at strengthening the home decor business of Urban Ladder. The acquisition was done privately and the details were not disclosed publicly. BuynBrag had also started operations in 2012.

Business model[edit]

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. [9]

Urban Ladder is continually creating and launching new collections like the Malabar, [10] the Eleanor & Louise, [11] and the Fujiwara range, [12]

Urban Interiors[edit]

Motivated by growing customer requests, Urban Ladder also launched and suggestions, Urban Ladder launched design consultation as a service in 2016.[13][14]

The Urban Ladder Design Network[edit]

Apart from its in-house collections and consultations, Urban Ladder fosters and works with external designers The Urban Ladder Design Network programme is an initiative to connect and build a community of interior designers on one platform.This affiliate programme provides external designers with 3D rendered models of its products.The partnered designers also get priority inventory blocking on Urban Ladder’s products and a commission when their clients select Urban Ladder’s designs for their homes. Currently, Urban Ladder has over 600 design firms working with them as part of The Urban Ladder Design Network, with the tribe increasing every month.[15]

Furniture Exchange[edit]

The furniture exchange offer is provided by Urban Ladder’s partners Zefo and Quikr. The old furniture will be picked up, and the new piece delivered to the customer at no additional cost.

Awards & Recognition[edit]

Urban Ladder collected the 'Best Digital Start-Up' Award at the 4th India Digital Awards conducted by Internet and Mobile Association of India.[16] Ashish Goel was voted by the Network 7 Media Group Jury as "Game Changer Entrepreneur of the year" 2016 at Satya Brahma founded 8th edition of India Leadership Conclave 2016.[17]

References[edit]

  1. ^ "Furnishing a new buying experience". Business Standard. Retrieved 5 June 2014.
  2. ^ "Urban Ladder Scouts For Acquisitions in Home Decor-Lighting Segments/". thehindubusinessline. Retrieved 7 July 2017.
  3. ^ "Online furniture store Urban Ladder raises $5M in Series A led by SAIF Partners". VC Circle. Retrieved 5 June 2014.
  4. ^ "Steadview Cap backs furniture e-tailer Urban Ladder".
  5. ^ "Ratan Tata invests in Urban Ladder". thehindubusinessline. The Hindu Group. 27 April 2016. Retrieved 27 April 2016.
  6. ^ "Urban Ladder raises $50 m". thehindubusinessline. The Hindu Group. 9 April 2015. Retrieved 10 April 2015.
  7. ^ "Urban Ladder Raises $12 Mn Funding For Omni-Channel Expansion". INC42. INC42. 13 March 2018. Retrieved 1 March 2018.
  8. ^ http://www.newspatrolling.com/urban-ladder-company-profile/
  9. ^ "Urban Ladder ties up with Amazon India to boost sales". Livemint. HT Media Ltd. Retrieved 16 September 2016.
  10. ^ "Urban Ladder Takes Customers Through A Nostalgic Journey Home With The Launch Of 'The Malabar Range'". UrbanLadder. urbanladder.com. Retrieved 10 October 2016.
  11. ^ "Urban Ladder is setting up shop in your city!". UrbanLadder. urbanladder.com. Retrieved 11 January 2018.
  12. ^ "Fujiwara Range". CondeNast. vogue.in.
  13. ^ "Urban Ladder launches 'Urban Interiors', a complete Interior Décor Service". VC Circle. Retrieved 5 June 2014.
  14. ^ Urban Ladder Launches 'Urban Interiors', a Complete Interior Décor Service
  15. ^ "the-design-network". urbanladder. Retrieved 22 February 2017.
  16. ^ "4th India Digital Awards Winners" (PDF). IAMAI. Retrieved 5 June 2014.
  17. ^ "Top Entrepreneurs in Business & Iconic Stars in Cinema shined at India Leadership Conclave 2016 's ILC Power Brand Awards 2016". network7research.com. Retrieved 30 July 2016.