Future Group to acquire furniture store FabFurnish.com
7th April 2016Category : E-CommercePublished by :Rahul Verma Reading Time : 3 Minute News Sourced : India
The Future Group has added another portfolio in its diversifying business after it acquired online furniture store FabFurnish.com—first online store acquisition.
The Group it owns a home and furnishing brand HomeTown, this move has strengthen its reach to online platform which is booming after e-marketplaces Pepperfry and Urban Ladder is offering robust segment with catchy offers.
“We will leverage FabFurnish’s online platform and delivery model to grow our presence in markets where we do not have offline stores or have minimal reach,” said Kishore Biyani, chief executive officer of Future Group, reports Mint.
Future Group will stick to FabFurnish’s brand and will use the online platform to leverage Home Town online.
The Berlin-based Rocket Internet’s is the flagship company of FabFurnish, Jabong and Foodpanda all of which have been dropping breath in market.
According to media reports, FabFurnish’s management team and about 100 odd employees are likely to join Future Group, the two people added.
The tough competitors Pepperfry (run by Trendsutra Platform Services Pvt. Ltd) and Urban Ladder (Urban Ladder Home Décor Solutions Pvt. Ltd) that are funded by Goldman Sachs and Sequoia Capital.