Mourning but learning from Urban Ladder
19 November, 2020•6 min
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19 November, 2020•6 min
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Editor's note: In our little urban bubble that is people who shop online, Urban Ladder’s sale to Reliance Retail Ventures last week set off a sort of glum chain reaction. Many expressed surprise that the company went out with a whimper and not a bang, which was contrary to their own experience of buying furniture from the company. Where customers absolutely loved the product and the experience, and so imagined that Urban Ladder must be prospering, when in fact it was anything but. Reliance Industries Ltd (RIL) has acquired online furniture seller Urban Ladder Home Decor Solutions Pvt. Ltd for ₹182.12 crore, expanding its presence in India’s fast-growing e-commerce market. Reliance Retail Ventures Ltd (RRVL), the retail unit of billionaire Mukesh Ambani’s RIL, bought 96% of Urban Ladder and has the option to buy the remaining 4% stake, the company said in a stock exchange filing on Saturday night. RRVL proposes to make a further investment of up to ₹75 crore, taking its ownership to 100% in the furniture e-tailer, which is expected to be completed by December 2023. Eight-year-old Urban Ladder …
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