Pepperfry, India’s largest furniture and home goods
marketplace, has opened its first and third studios in Hooghly and Kolkata,
respectively.
Pepperfry, India’s No.1 furniture and home products
marketplace, announced the launch of its first Studio in Hooghly and third
Studio in Kolkata. The offline expansion is in keeping with the company’s goal
of penetrating niche markets and creating India’s largest omni-channel
furniture and home product business. Pepperfry, which opened its first Studio
in 2014, now has over 100 Studios in over 50 cities across the country.
The Studio in Hooghly, which was launched in collaboration
with Nivedita Retail, is located on GT Road in Uttarpara and has a carpet space
of 750 square feet. In addition, the Kolkata Studio, which opened in Parkstreet
with the help of Heritage Lights N More Private Limited, has a carpet area of
1,500 square feet. These Studios provide customers with a hands-on experience
of a curated collection of furniture and décor that has been hand-picked from
Pepperfry’s diverse portfolio of over 1 lakh products. It gives customers the
opportunity to touch and feel the wood finishes and quality of these
high-ticket items before purchasing them. It also houses design specialists who
provide additional design consulting, assisting consumers in their
decision-making process.
Building on its omni-channel network, Pepperfry developed a
novel franchise model in 2017, launching 70 FOFO Studios across metros, Tier 2
and Tier 3 markets such as Pathankot, Trivandrum, Patna, Bengaluru, Indore,
Chennai, Guwahati, and Coimbatore in a relatively short period of time. Pepperfry
chose to partner with the best local entrepreneurs who are familiar with
hyperlocal demand cycles and trends for these Franchise Studios. In 2020, the
company updated its franchise strategy to make it more profitable for both
current and new franchise partners. It now has a reward structure in place that
allows franchise owners to earn a 15% commission (formerly 10%) on any online
transaction done through the franchise studio.
In June 2021, Pepperfry launched the Pepperfry Accelerator
Program with an aim to establish over 200 Studios in one year. The objective of
this newly crafted program is to exponentially expand Pepperfry’s offline
footprint by adding one entrepreneur a day for the rest of the year. However,
the big differentiator of the new program is the Capex required by franchise
partners, which is around INR 15 lakhs – one-third as compared to the existing
franchise program.
Both the models are based on 100% price parity and does not
require the partner to hold product inventory, making it a mutually beneficial
business association.
Speaking of the launch Amruta Gupta, Business Head,
Pepperfry said, “We are delighted to expand our omni-channel footprint by
launching our first Studio in Hooghly and third Studio in Kolkata in
partnership with Nivedita Retail and Heritage Lights N More Private Limited,
respectively. At Pepperfry, our aim is to be available to our customers through
as many touchpoints as possible, offering great variety at great price points.
Thus, in the current times where individuals have become more conscious towards
their home-environment and are investing behind creating a space that is
functional and aesthetic, we believe our Studios will aid consumers in creating
an ideal home.”
Nandita Paul, Owner,
Nivedita Retails (Hooghly Franchise Partner) said, “We are extremely happy
partnering with Pepperfry and being a part of their journey in building the
largest omni-channel business in the furniture and home products segment in
India.”
Heritage Lights N More Private Limited (Kolkata Franchise Partner) further
added, “We have been a Pepperfry Franchise Partner since 2018 and own 2
Pepperfry franchisees in Patna & Ranchi. This is our 3rd franchise studio
with Pepperfry and we are happy to partner with India’s leading home and
furniture marketplace. Pepperfry has pioneered a truly differentiated
omnichannel business and we are glad to join them in their journey to create
the largest omnichannel home and furniture business.” Courtesy: www.apnnews.com
