Urban Ladder, Tata Housing tie up for 3 city projects
18 February 2017
Online furniture firm Urban Ladder has tied up with Tata Housing to showcase its products across three projects in Mumbai, Bengaluru and Gurgaon. The strategic partnership will see Tata Housing contributing to the customer base of Urban Ladder, which will provide interior décor, design and furniture.
''We have started the service for mid to premium segment homes, ranging from Rs68 lakh to Rs3.5 crore. This segment of customers keeps coming back to us for suggestions on how to design their new homes. Urban ladder will provide a special pricing for our customers,'' said Tarun Mehrotra, head of sales and marketing at Tata Housing.
Given the average age of new homebuyers in India coming down to 35 years, the online brand provides a natural fit, he said.
Urban Ladder, which has started selling on marketplaces such as Amazon India and Flipkart, is also looking at offline strategy to expand its retail presence. It plans to open its first store in the first quarter of 2017-18 and increase the number to eight stores by the end of the financial year.
''Currently our urban interiors business contributes 5 per cent to the revenue of the company. Over the next 12-18 months we see this doubling in the revenue mix,'' said Sanjay Gupta, chief marketing officer at Urban Ladder.
''We have also tied up with a project by Phoenix in Bengaluru, where the flats are up for possession and we will be working with builders who can deliver, though the gestation period might be long for this business,'' he said.
Urban Ladder, which pivoted to the online brand model last year, has raised Rs102 crore from existing investors to fund its offline expansion.