Home furnishing retailer Urban Ladder aims to hit profits by December 2019 as it expands its network of brick-and-mortar stores in Delhi-NCR and Bengaluru and strengthens its product portfolio.
The company also plans to raise funds over the next 12 months to aggressively grow its offline presence by opening more stores. “We’re looking at an IPO by the time we hit our ninth anniversary (nearly three years away, in July 2021)—which basically means that next year has to be a profitable year, but that’s the least to prepare ourselves to be a listed company. From next quarter, we’ll start sending out earnings reports to a few people who are not shareholders in the company currently,” said Ashish Goel, CEO & Co-Founder of Urban Ladder.
The Ratan Tata-backed company has five physical retail stores in Bengaluru and Gurugram apart from its online operations.
Urban Ladder aims to grow its revenue by at least 40% by the end of this financial year.
As per documents filed with the Corporate Affairs Ministry, Urban Ladder Home Décor Solutions had a consolidated revenue from operations of Rs.94.5 crore for the fiscal ended March 2017 as compared to Rs.55.7 crore in the previous fiscal, a growth of almost 70%.
Bengaluru-based Urban Ladder, which was started in 2012, has raised US $ 103 million till date.
