Furniture e-tailer Pepperfry’s revenue has reportedly witnessed a four-fold increase to Rs 98 crore in 2015-2016, from Rs 25 crore in the year before.
The company’s losses also doubled to Rs 155 crore from Rs 88 crore in the corresponding period last year, a few media reports said, quoting data from the documents filed with the ministry of corporate affairs.
As per the reports, the losses were mainly driven by a significant increase in advertisement spends, which increased from Rs68 crore in FY15 to Rs155 crore last fiscal. Employee expenses also increased from Rs15 crore in FY15 to Rs23.59 crore last fiscal.
Pepperfry which counts likes of Urban Ladder, Homelane, Livspace, among others as its competitors is the best funded homegrown furniture e-tailer.
Read: Pepperfry raises Rs 210 crore in new round of funding
In September, the company raised Rs210 crore in a Series E funding round from existing investors Goldman Sachs, Bertelsmann India Investments, Norwest Venture Partners and Zodius Technology Fund. Since inception in 2011, the company has raised about $160 million from investors, almost double of the $77 million raised by closed competitor Urban Ladder.
In the last five years, more than three million customers have made purchases from over 10,000 merchants on the Pepperfry platform, leading it to a position of dominance in the online furniture and home segment in India.
Read: Pepperfry launches Studio Pepperfry in Delhi, to open 10 more by year-end
It owns and operates the largest customer facing Big Box Supply Chain through 17 fulfilment hubs and a delivery fleet of over 400 vehicles, delighting customers across 500+ cities.
The losses were mainly driven by a significant increase in advertisement spends, which increased from Rs68 crore in FY15 to Rs155 crore last fiscal
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