India: Online furniture retailer Pepperfry to file for IPO in 12-18 mths

As discretionary spending took a hit during the lockdown, online furniture retail was impacted. Pepperfry, which has omnichannel presence, said it has grown stronger post the pandemic, and is on the cusp of turning profitable. Data by RedSeer Consulting shows the online furniture market in India grew at an annual average pace of approximately 80-85% to touch $700 million in 2019-20. But online has less than 3% share in the overall furniture market pegged at $17 billion. In an interview, Ambareesh Murty, co-founder and CEO, Pepperfry spoke about plans to go public, growth and profitability and the importance of omnichannel retail. Edited excerpts:

How badly were furniture retailers impacted due to covid?

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