Urban Ladder witnessed a 24% surge in average order value that was driven by demand for sofas and beds after the opening of its first large format store in Bangalore. Urban-ladder is a five-year-old startup which was entirely an online retailer until last year. It has set aside 3 million to expand their business of large format stores and smaller sofa lounges in Bangalore and Delhi. Ajit Joshi, President of Urban Ladder said,” We are adding to our network of four stores in Bengaluru, including three large format stores and one sofa lounge with two sofa lounges in June and two large format stores in the next few months, taking our count to eight stores in the city. We opened a large format store in Gurgaon last week and are opening another large format store in Noida in June”. The start-up has raised $103 million till date.
Source: The Hindu Business Line