Qrius
  • Economy
  • Culture & Society
  • Science & Technology
  • World
  • Content Services
  • Economy
  • Culture & Society
  • Science & Technology
  • World
  • Content Services
18 Nov, 20
18 Nov, 20

Reliance Retail buys a 96% stake in Urban Ladder

The deal is pegged at ?182.12 crore

By Qrius

Reliance Industries Ltd (RIL) acquired online furniture seller Urban Ladder expanding its acquisitions in India’s fast-growing e-commerce market.

Reliance Retail Ventures Ltd (RRVL), the retail unit of 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 complete takeover bid by 2023.

Read moreGoogle contributing to India's digitisation dream

Urban Ladder has had a challenging run in the last few quarters with subdued results. Rival Pepperfry is on the path to profitability and plans to go public as early as next year, with sales seeing a boost because of the shift to work-from-home during extended lockdowns.

Home furniture is however a small part of online retail and remaining profitable is a formidable challenge.



Stay updated with all the insights.
Navigate news, 1 email day.
Subscribe to Qrius

what is qrius

Qrius reduces complexity. We explain the most important issues of our time, answering the question: "What does this mean for me?"

Featured articles

1

Abstract

The Everlasting Allure of ‘The Double Life of Veronique’
2

‘Women are not just for sex’ says Kangana Ranaut as she hits back at fmr Cabinet Minister
3

India’s Monthly Economic Review: FY24 Outlook Bright, Fundamentals Strong, Global Headwinds
4

Where are we in the fight against ‘homosecularism,’ the belief that sexuality and religion are at odds?
5

Supreme Court refuses woman?s plea to medically terminate her 26-week pregnancy
6

How ‘Birkenstock’ built on its brand and broke bank
7

Israel-Hamas Conflict: Tackling false claims and misleading content in violence-hit Gaza
8

Humans of Bombay founder Karishma Mehta pens note on controversy with People of India
9

How did a ‘bus shelter’ go missing in Bengaluru?
10

Che Guevara

Why is Che Guevara’s image still invoked in pop culture?
About UsContributorsBecome a ContributorContact
2018 QRIUS. All Rights Reserved