HYDERABAD: Online furniture marketplace Urban Ladder has been granted the single brand retail trade (SBRT) licence by the Department of Industrial Policy & Promotion (DIPP). This governmental nod, the company believes, will help them build a strong offline presence across the country.
“The SBRT licence is a huge vote of confidence and encouragement from the government to young, Indian companies like ours,” said Ashish Goel, chief executive, Urban Ladder. “This licence helps us at Urban Ladder build a brand that can pursue its ambitions as well as help shape the economy impactfully.”
Founded in 2012 by Ashish Goel and Rajiv Srivatsa, Urban Ladder had applied for a single brand licence during September last year as a strategic shift to be an offline retailer. The licence will give the Bengaluru-based company more flexibility with its designs and product sourcing. It will also help in tightening its supply chain and maintaining healthy inventory.
Urban Ladder launched its first experience center in Bengaluru earlier this year, which will now be converted into a retail store as a result of the licence approval. The company plans to set up more stores across the country and aims to be profitable in the next 18-20 months along with plans to file for an IPO in three years.
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