Pepperfry targets $8-billion market with Bespoke launch

Furniture and home products marketplace Pepperfry announced the launch of an end-to-end home interior design and build solutions service on Thursday.

The new service, called Pepperfry Bespoke, targets an $8-billion market opportunity consisting of new homes and home renovation.

With this launch, Pepperfry will morph into a full-fledged home business, offering services such as free interior design solutions, 3D visualisation of interiors, space optimisation ideas, budget planning, and civil and electrical work. The company has partnered with select contractors and leading brands such as Hettich, Bosch, Siemens, Kajaria, JSW, Faber and Kaff for the initiative. .

Big plans ahead

The services are currently on offer in Mumbai, Gurugram and Bengaluru, where customers can walk into any of the Pepperfry Bespoke Studios to get a first-hand experience. “Of the $38-billion home and interiors market in India, new homes and home renovations is an $8- billion opportunity. As the leader in the home and furniture segment with a strong online and offline presence, it was only natural [for us] to extend the Pepperfry offering to include end-to-end home interior design and build services,” said Ashish Shah, COO and founder, Pepperfry.

“I am confident that the interior design consultancy, execution expertise and great brand tie-ups offered by Pepperfry Bespoke will change the way Indian consumers build their dream homes,” added Shah. The company plans to establish 17 Bespoke Studios in 10 cities and achieve business of ₹350 crore gross merchandise value (GMV) by March 2020, contributing to 10 per cent of its overall GMV.

While Pepperfry's average order value is ₹20,000, the company expects Bespoke to deliver a minimum AOV of ₹5 lakh.

In its earlier avatar, launched three years ago, Pepperfry Bespoke offered “shop the look” wherein it created hundreds of looks for furniture and décor that its customers could choose from.