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Indian furniture retailer Pepperfry’s revenue drops 31% in FY24
Indian furniture startup Pepperfry saw a 31% drop in operational revenue for FY24, falling to 188.9 crore rupee (US$21.8 million) from 272.4 crore rupee (US$31.44 million) in the previous year.
Total income declined 28% year-on-year to 209.2 crore rupee (US$24.14 million).
Despite this, the company narrowed its net loss by 37.4% to 117.5 crore rupee (US$13.56 million), while EBITDA loss fell 52.2% to 43.6 crore rupee (US$5.03 million).
Total expenditures dropped 31.1% to 326.7 crore rupee (US$37.70 million), with employee benefit expenses cut by 29.7% and marketing costs slashed nearly 45%.
Founded in 2012, Pepperfry operates across 173 cities with over 200 studios.
It has raised over US$305 million, including US$23 million in September 2023. Plans for an IPO were shelved in 2024 as the company sought buyers amid stagnant sales.
Initially targeting 10-15% revenue growth in FY25, its path to profitability remains uncertain.
Recent Pepperfry developments
| Timeline |
|---|
05-Feb-2025 📉 Indian furniture retailer Pepperfry’s revenue drops 30.6%
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18-Dec-2024 💼 Indian furniture retailer Pepperfry appoints new CFO
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24-Aug-2022 🪑 Indian furniture retailer Pepperfry acquires interior solutions firm
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| 28-Jun-2022 📈 Singapore VC Panthera Growth raises first half of $250m second fund |
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