Reliance Retail acquires UrbanLadder/ Urban ladder sold to Reliance

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Urban ladder sold to Reliance for 182 cr
Till June 2019, Urban Ladder had raised a funding to the tune of Rs 835 crores ( $112.8 million) https://t.co/VjzZ...1z
This is actually better than having to shut it down. But distress sale indeed. 

Reliance continues its action in e-commerce. After e-pharmacy Netmeds, it has now acquired 96% stake in Urban Ladder for just ₹182 crore. TOI had reported about it in Aug. @ madhavchanchani Reliance to invest ₹75 cr more by Dec 2023.

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UL kept denying the fact that there will be zero impact because of IKEA’s existence ( Its going to their monopoly pretty soon .. MUCH NEEDED )
but the reality is different.. on top of that COVID-19 made things worse (Been months since many UL branches in bengaluru were shut)

Now that RR owns UL, Pepperfry will be very happy that their competitor will be down to their level

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They were facing expansion challenges after the initial set of customers since 2018 around, The market for online furniture is still open to grab for new players.

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Runjesh wrote:

They were facing expansion challenges after the initial set of customers since 2018 around, The market for online furniture is still open to grab for new players.

It just infuriates me that a company can keep raising crores just to pay previous debts.

And we tax-paying citizens aren’t even allowed to do simple balance transfer between credit cards.

Anyway, paid upfront but UL delivered my table one month after original delivery date. CS was bad.

Maybe they deserved a fire sale after all

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