National : Pepperfry, India’s no.1 furniture and home products marketplace announced the launch of its 100th Studio in Lucknow. In partnership with Lt. Col. Siddharth Verma, the Franchisee Studio spreads over a sprawling 500 sq. ft. area in Hazratganj area in Lucknow. With this launch, Pepperfry now has studio footprint across 57 cities in India and aims to reach 200 Studios by March 2022.
The Omnichannel Model has been one of the strongest growth pillars for Pepperfry over the past few years. The company opened its first Studio in December 2014 and since then has opened several stores under both Company owned and Franchisee Owned models. Pepperfry Studios are experience centers managed by interior design professionals where customers can get free consulting for their home interior needs. Customers can walk into these studios and choose from a large variety of carefully curated products from its online marketplace. The studios offer customers a first-hand experience of various types of woods, materials, color and fabric swatches that helps them make the right purchase decision. Studio Pepperfry has evolved to become a key consumer touchpoint with an average contribution of more than 35% to the overall business.
Ashish Shah, Co-founder & COO, Pepperfry said, “We are extremely happy with the response that we have received on our new Franchisee Program. In a short time of 3 months, we have added 50+ new stores under the model and are all set to reach 200 stores by March 2022. I am very excited about how Pepperfry is enabling local entrepreneurship and adding partners in our growth journey. My sincere gratitude to all our partners that are now spread across 57 cities in the country. Our newly launched Studio in Lucknow will help us enable a key market for Pepperfry and I wish our partner Lt. Col. Siddhartha Varma Retd. The best as he starts this new journey with us”.
Lt. Col. Siddhartha Varma Retd. From Basecamp Infra Consultants (OPC) Private Limited, said, “We are happy to partner with India’s leading home and furniture marketplace. Pepperfry has pioneered a truly differentiated omnichannel business and we are looking forward to participate in their journey by serving customers in one of the most thriving cities in the country”.
Pepperfry has always propelled local entrepreneurship in India with its unique business model and, today, enables more than 10,000 merchants to do business on the platform and earn their livelihood. Through the newly crafted Pepperfry Accelerator Program [Franchisee Program] that was launched in June 2021, Pepperfry aimed at adding one entrepreneur a day for the rest of the year. Since then, Pepperfry has added 15 stores every month and surpassed the 100th milestone in September End 2021. Pepperfry has set up 13 new studios in September in cities like Nagpur, Amritsar, Solan, Gulbarga, Salem, Trichy, Goa, Nashik, Raipur etc. The company’s new franchise partners are a mix of successful businesses, women entrepreneurs, ex-army official and first-time entrepreneurs.
The Pepperfry Accelerator Program is a low investment model with 15 Lakhs of investment and is based on 100% price parity and does not require the partner to hold product inventory or manage order fulfilment, making it a mutually beneficial business association. Pepperfry offers a revenue structure wherein the franchise owners earn a commission of 15% on each online transaction made via the franchise studio.