MAM

Reliance acquires majority stake in UrbanLadder

Reliance Retail Venture has acquired 96 per cent equity holding for Rs 182.12 crore.

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2020/11/15/reliance_industries_2.jpg?itok=hmm352Bz

New Delhi: Reliance Retail Ventures Ltd, a subsidiary of Reliance Industries continues with its acquisition streak. After acquiring stakes in NetMeds, Future Group and Flipkart, it has now taken a controlling stake in the popular furniture etailer UrbanLadder.

RRVL has acquired 96 per cent equity holding in Urban Ladder Home Décor Solutions Pvt Ltd (Urban Ladder) against an investment of Rs 182.12 crore. RRVL has a further option of acquiring the balance stake, taking its shareholding to 100 per cent of the equity share capital of UrbanLadder.

RRVL has proposed to make a further investment of up to Rs 75 crore, which is expected to be completed by December 2023.

The acquisition further helps Reliance to expand its product portfolio and widen its offerings to the consumers. Some of these categories are apparel, electronics, white goods, groceries, medicines, furniture, and others. 

“The aforesaid investment will further enable the group’s digital and new commerce initiatives and widen the bouquet of consumer products provided by the group, while enhancing user engagement and experience across its retail offerings.”

UrbanLadder was one of the earliest entrants in online furniture retailing. It started operations in February 2012 and has been selling home furniture and décor products. It also has a chain of retail stores in several cities across India.

As per a BSE listing, UrbanLadder’s audited turnover was Rs 434.00 crore, Rs 151.22 crore and Rs 50.61 crore, and Net Profit / (Loss) of Rs 49.41 crore, Rs (118.66) crore and Rs (457.97) crore in FY 2019, FY 2018 and FY 2017 respectively.

The furniture retailer has created a big online community and strong recall. It has nearly 830k+ members on Facebook and 185k members on Instagram. It is also expected to have a strong pool of databases of consumers that will help Reliance new commerce initiatives in the long run.
 

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/22/img_22102021_125621_800_x_800_pixel.jpg?itok=4aN52tCV
Meesho partners with DViO Digital for high-decibel festive campaigns

Mumbai: Creative-tech and digital-first marketing agency DViO Digital roped in as the digital creative and social media marketing partner for e-commerce platform Meesho to lead the high decibel marketing campaigns for the festive season. This partnership will see DViO Digital strategise, curate and...

MAM Media and Advertising Account
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/22/img_22102021_122740_800_x_800_pixel.jpg?itok=gE4lafQl
OnePlus partners with Croma for its OnePlus TV Category

Mumbai: Global technology brand OnePlus has announced a retail partnership with Croma for its range of OnePlus smart TVs which are now available for purchase across select Croma stores and on croma.com. The extended partnership with Croma will enable OnePlus to further expand its offline reach and...

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/22/img_22102021_121404_800_x_800_pixel.jpg?itok=I0r7Wiim
Nykaa acquires homegrown skincare brand Dot & Key

Mumbai: Beauty and fashion e-commerce platform, Nykaa has announced the acquisition of the Indian skincare brand Dot & Key. This is the first D2C (direct to consumer) beauty brand acquired by Nykaa.

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/22/zee.jpg?itok=ZbVFXWkB
Zensciences appoints Artthi Ponnuswamy as VP, brand solutions

Mumbai: Brand and digital marketing consultancy Zensciences has announced the appointment of Artthi Ponnuswamy as vice president of brand solutions.  Ponnuswamy joins Zensciences after 15 years with Origami Creative Concepts where she was head - brand strategy. Prior to that, she has been...

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/22/22222.jpg?itok=NKVfb-Y_
Smartphone industry to clock more than 50% revenue in festive quarter, led by 5G handsets: Report

Mumbai: With the ongoing festive season, the sales of smartphones have significantly jumped, with more and more discounts available on e-commerce platforms. The smartphone industry in India is expected to earn more than half of its sales during the festive quarter, with approximately 49.9 million...

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/22/madiso-obeetee.jpg?itok=-RrQezGD
Madison Media wins media mandate for Obeetee

MUMBAI: Madison Media has been appointed as the Media AOR for the online carpet store, Obeetee. The Agency will manage the entire media gambit for the client including TV, print, radio, OOH, digital, and cinema. The account will be handled by Madison Media Alpha based out of Mumbai. Founded in 1920...

MAM Media and Advertising People
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/21/shams-jasani.jpg?itok=vIroGOWP
Isobar's Shamsuddin Jasani joins Wunderman Thompson South Asia as CEO

Wunderman Thompson has appointed Shamsuddin Jasani as chief executive officer for South Asia, effective 1 November.

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/21/img_21102021_162445_800_x_800_pixel.jpg?itok=qSGhQQUx
Web Werks appoints Durgesh Pandey as chief finance officer

Mumbai: Data center provider Web Werks has announced the appointment of Durgesh Pandey as chief finance officer (CFO). In his new role, Pandey will be responsible for the management of all financial processes in India for all the legal entities, partnering in the formulation of the overall...

MAM Media and Advertising People
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/21/rahul.jpg?itok=kxcAPL1o
realme ropes in KL Rahul as brand ambassador

Mumbai: Smartphone brand realme has roped in Indian cricketer KL Rahul as brand ambassador to endorse its smartphone category.  Rahul will work with realme to help grow the smartphones category under the broad umbrella of product offerings, said the brand in a statement on Thursday.

MAM Marketing Brands

Sign up for our Newsletter

subscribe for latest stories

* indicates required