Furniture retailer Pepperfry targeting revenue of Rs 65 bn by 2020

Online furniture retailer Pepperfry is targeting topline of almost Rs 65 billion by 2020 compared to its gross merchandise value (GMV) of about Rs 15 billion clocked last year.

"Our target is to reach 20 million Indian homes in the next few years through our omnichannel business model, that comprises both online marketplace and 'touch and feel' outlets across major cities," Pepperfry business head (offline expansion) Naresh Thadani told Business Standard here.

The company today launched its first store in Uttar Pradesh, barring National Capital Region (NCR), at Lucknow. So far, Pepperfry has launched 33 such studios in 17 major cities of India over the last 3 years.

GMV is the total value of merchandise sold during a timeframe through a customer-to-customer exchange site and is a standard measure of growth for online marketplaces like Pepperfry, Flipkart etc.