Urban Ladder gets govt nod for single brand retail license
By Chanda Kumar | Vjmedia Works | August 31, 2017
Urban Ladder will optimize many key functions under the SBRT guidelines and build its offline retail presence across the country
Leading online furniture retailer, Urban Ladder announced that The Department of Industrial Policy & Promotion (DIPP) has granted them the coveted single brand retail (SBRT) licence. This governmental nod will propel India’s home-grown furniture brand to fulfill its ambition of becoming a global furniture retailer. Urban Ladder will optimize many key functions under the SBRT guidelines and build its offline retail presence across the country.
“The SBRT licence is a huge vote of confidence and encouragement from the government to young, Indian companies like ours. Creating a nurturing ecosystem for entrepreneurs is beneficial for business, customers, and the country. This licence helps us at Urban Ladder build a brand that can pursue its ambitions as well as help shape the economy impactfully. It will give us the necessary push in becoming India’s most loved consumer brand,” says Ashish Goel, CEO, Urban Ladder
As the company undergoes the necessary operational changes under SBRT, Urban Ladder will focus on making the transition seamless on the customer front. Customers have always associated Urban Ladder with great design. The licence will give Urban Ladder more flexibility with its designs and product sourcing. It will also help in tightening its supply chain and maintaining healthy inventory. Urban Ladder will also leverage the licence to make digital transactions without relying on third-party sellers.
In September last year, Urban Ladder made its strategic shift to be an offline retailer with a focus on expanding its brand and achieving its vision of making a million homes beautiful. As a trailblazer in the online furniture space, Urban Ladder launched its first flagship experience center in Bangalore this year that will be converted to a retail store post this licence approval. The company aims to set up more stores across the country, leveraging its omnichannel presence to be profitable in the next 18-20 months. The company is also targeting an IPO in the next 3 years.
