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How MebelKart is taking the online furniture industry to another level?
About MebelKart
MebelKart is an e-commerce company dealing in the home furnishing and interior designing segment. The company is focused on making furniture shopping easier, reliable and cost-effective. It is currently operational in more than 200 cities including all the major metros in India including Bangalore, Mumbai, Pune and Delhi.
The startup is adding value by offering world class experience in the furniture retail. Started by the Industry Experts from IIT’s and BITS, the Company wants to bring transparency into the system of Furniture selling through the use of technology. MebelKart intends to use various technical tools to make the process of furniture selling customer friendly and seamless. Currently the company is operational in over 200 cities & delivering to more than 20,000 pin codes all over India.
Why we chose MebelKart as startup of the week?
- Currently the company has 2500 sellers on the platform and the service is operational in over 200 cities delivering to more than 20,000 pin codes all over India.
- MebelKart has about 3.5 lakh products on their website and it plans to scale up further.
- MebelKart currently earns a business of 96 crore a year and the plan is to grow into 1200 Crore/year by Sept 2016.
- MebelKart has 1.75 lakh SKUs live on the portal and we are offering interior designing solutions for a ticket size of Rs 6, 00,000.
- The Company recently tied up with 27,000 interior designers.
- The company has over 1, 50,000 satisfied customers.
- The company has more than 1.7 lakh fan following over Facebook.
Idea
Rahul Agarwal, after his graduation, shifted to Bengaluru in 2012 to work for a startup called Picsean Media, where he met IIT Bombay alumnus Ranjeet Kumar Vimal and BITS Pilani graduate Nikhil Saraf. Bengaluru was new to him and he faced lots of problems while setting up his house.
Rahul noticed that the quotation for furniture was quite high and in some cases the vendors also refused to ship the products to the house. So, Rahul with Vimal and Saraf, decided to build an e-commerce model of furniture delivery and the result was MebelKart.
Growth
Their first customer, other than their friends and family, came 11 days after setting up their website. The founders delivered the first 100 orders by themselves. Working for three months at MebelKart, they then decided to expand to Delhi, Pune, and Chennai.
With more than 3.5 lakh furniture items listed on the portal, MebelKart claims to be India’s largest furniture e-tailer in terms of product selection. MebelKart now have more than 3,000 sellers on the platform and delivers to more than 20,000 pin codes of 200 cities.
MebelKart gets about 30,000 unique visitors a day on its platform. The average ticket size in the furniture business is Rs. 10,000.
Revenue Generation
MebelKart currently clocks a GMV of INR 8-10 Crore a month that translates into an annualized GMV run rate of around INR 96-120 Crore. The company hopes to increase the GMV to almost 10 times by the end of this year.
Funding and Future Plans
MebelKart won the heart of the investors after a long run and Askme invested $20 million in the company to increase its GMV, grow the team and build a better technology platform. Currently the company has more than 3.5 lakh products from over 2500 suppliers across India. The company is planning to scale the supplier count up to 5000 and a million products in the next 4-5 months. The company has launched a mobile app Funterior, which helps users visualize how furniture will look in the setting of their home.
The company, which is 130-people-strong currently, plans to hire nearly 250 people in the next three months to support its expansion plans.
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