Urban Ladder to open single brand retail store by October

Online furniture retailer Urban Ladder is set to open its first single brand retail store by Deepavali in Bengaluru. The company recently received single brand retail (SBRT) licence from the Department of Industrial Policy and Promotion (DIPP).

The company plans to open six such stores by the end of this year at an estimated investment of about Rs 128 crore ($20 million). Out of the total investment, company would be investing about Rs 96 crore ($15 million) for the retail expansion and balance for the product design.

“We would be investing in product design as we have lot of flexiblity under SBRT,” a company spokesperson said.

This approval for SBRT will propel India’s home-grown furniture brand to fulfill its ambition of becoming a global furniture retailer, and Urban Ladder will optimise many key functions under the SBRT guidelines and build its offline retail presence across the country, the company claimed.

“This licence will help us build a brand that can pursue its ambitions as well as help shape the economy impactfully. It will give us the necessary push in becoming India’s most loved consumer brand,” Ashish Goel, CEO, Urban Ladder said in a release.

In September last year, the company made its strategic shift to be an offline retailer with focus on expansion.

Urban Ladder launched its first flagship experience centre in Bengaluru this year. It will be converted to a retail store post this licence approval. The company aims to set up more stores across the country, leveraging its omnichannel presence to be profitable in the next 18-20 months, it added.