It’s a deal: Reliance Retail Ventures buys furniture e-retailer Urban Ladder

Reliance Retail Ventures (RRVL) has snapped up struggling furniture e-retailer Urban Ladder, a sign of increasing consolidation in the e-commerce space. The start-up was losing ground well before the pandemic set in and had given up 40% of its value between 2018 and 2019, sector watchers said.

RRVL will buy a 96% stake for Rs 182 crore. Urban Ladder`s turnover in FY19 was Rs 434 crore while the profits were Rs 49.41 crore. In FY18, the company reported a loss Rs 118.66 crore.