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New Delhi, Aug 8 (IANS) Online furniture store <keyword id="18320859" type="General" weightage="20" keywordseo="pepperfry-co-founder" source="Orion">Pepperfry co-founder</keyword> and CEO <keyword id="2567697" type="General" weightage="20" keywordseo="ambareesh-murthy" source="Orion">Ambareesh Murthy</keyword> has passed away at the age of 51 due to cardiac arrest in Leh, fellow co-founder Ashish Shah announced in a tweet on Tuesday. "Extremely devastated to inform that my friend, mentor, brother, soulmate @AmbareeshMurty is no more. Lost him yesterday night to a cardiac arrest at Leh. Please pray for him and for strength to his family and near ones," he wrote. Tributes poured in on Twitter (now X) after hearing that Murty is no more. "Very sad my second boss and what a mentor he was ... I messaged him two days back and he was okay. Got him added to PruICICI group where a reunion is getting planned," a user wrote. "So sad &amp; shocking to hear of Ambareesh Murty's sudden demise due to cardiac arrest. May his soul rest in peace. An amazing entrepreneur &amp; inspiration to many... may his legacy with Pepperfry live on. RIP," another user said. Murty's business career began in June 1996, when he joined Cadbury as a Sales and Marketing professional. He worked for the renowned chocolate manufacturer for five and a half years. He ventured into the financial sector, gracing Prudential ICICI AMC (now ICICI Prudential) with his expertise. His tenure as Vice President of Marketing and Customer Service lasted nearly two years. A five-month stint at Levi's followed, and it was during this time that the seeds of entrepreneurship were sown, as he launched his own company, Origin Resources. This portal was designed to assist Indian mutual fund companies. He sold the company in 2005 and went to work for Britannia as a marketing manager. Murty joined eBay India seven months later as the country manager for the Philippines, Malaysia, and India. Six years later, Murty co-founded Pepperfry with Ashish Shah in June 2011.

Pepperfry co-founder Ambareesh Murty passes away due to cardiac arrest

Online furniture brand Pepperfry registered Rs 188 crore in losses in FY23, down just 3 per cent from Rs 194 crore losses in FY22.Online furniture brand Pepperfry registered Rs 188 crore in losses in FY23, down just 3 per cent from Rs 194 crore losses in FY22. Pepperfry has been witnessing slow growth in the last few fiscal years. The company was expected to file for an IPO during 2021 but delayed its plans, according to a report in Entrackr. The company logged Rs 272 crore in revenue from operations in FY23 from Rs 247 crore in FY22, according to its financial statements with the Registrar of Companies (RoC). The advertising and promotion cost marked 22 per cent of the overall expenditure. Pepperfry also roped in Bollywood celebrities <keyword id="333" type="General" weightage="80" keywordseo="saif-ali-khan" source="Orion">Saif Ali Khan</keyword> and <keyword id="1377418" type="General" weightage="80" keywordseo="kareena-kapoor-khan" source="Orion">Kareena Kapoor Khan</keyword> as their brand ambassadors during FY23. The online furniture store in September elevated its co-founder <keyword id="187955" type="General" weightage="80" keywordseo="ashish-shah" source="Orion">Ashish Shah</keyword> to the position of Chief Executive Officer (CEO), as its co-founder and CEO Ambareesh Murthy passed away at 51 due to cardiac arrest in August. The company also secured $23 million in funding from existing shareholders, including institutional investors and family offices, underscoring their confidence in the company's vision and strategic plans for the future. As the COO of the company, Shah played a pivotal role in shaping Pepperfry's customer-centric strategy, supply side strengths, and operational excellence. The latest round of capital infusion will strengthen Pepperfry's ability to cater to the evolving needs of its over 10 million and increasing customer base through a strong omnichannel presence, a robust supply chain, and tech-driven innovation. Pepperfry said it will reiterate its fundamental proposition of variety and leverage its retail footprint of more than 190 Studios in over 100 cities. The company's investors include <keyword id="260169" type="General" weightage="80" keywordseo="pidilite-industries" source="Orion">Pidilite Industries</keyword>, Goldman Sachs, <keyword id="260133" type="General" weightage="80" keywordseo="norwest-venture-partners" source="Orion">Norwest Venture Partners</keyword>, Bertelsmann India, <keyword id="19784387" type="General" weightage="80" keywordseo="state-street-advisors" source="Orion">State Street Advisors</keyword>, and InnoVen Capital, among others.

Online furniture brand Pepperfry registers Rs 188 cr losses in FY23

The festive season is starting from October and the e-Commerce companies are gearing up to woo the customers. The <a href="http://www.businessinsider.in/searchresult.cms?query=e-Commerce">e-Commerce industry</a> is expecting sales of Rs 25,600 crore ($4 billion) this year during <a href="http://www.businessinsider.in/searchresult.cms?query=Diwali">Diwali season</a>. 
 
As per the Hindu calendar, the festive season starts with <a href="http://www.businessinsider.in/7-Diverse-Dusshera-Celebrations-In-India/articleshow/43980552.cms">‘Navratri’</a> in the month of October. After October, there are a string of festivals and the festivities do not stop till December as the last month of the year is believed to be the most auspicious one for weddings. These festive months, as calculated by the <keyword id="3020651" type="UNKNOWN" weightage="20" keywordseo="Technopark-Advisors">Technopark Advisors</keyword>, are expected to account 40% of the total $10-billion annual sales the Indian e-Commerce industry is aiming to record this year. 
 
The growing sector reported a $7-billion sale in FY15 with 40% sales coming during the festive season. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal+">Snapdeal </a>senior vice-president, marketing, Idi Srinivas Murthy, said that the company saw a 15x increase in traffic during <keyword id="188" type="ENTERTAINMENT" weightage="20" keywordseo="Diwali">Diwali</keyword> last year and this year too they were intensifying all aspects of business operations, including logistics, supply-chain, financial and technological support. 
 
"We have launched faster last-mile delivery solutions and a refreshed user interface. We are also developing a host of solutions for our 1,50,000 sellers," Murthy said. 
 
Being the most lucrative period for the whole industry, the companies often compete with each other to gain maximum benefits. The two major grounds on which all the e-tailers focus are delivery performance and customer satisfaction. 
 
Mumbai-based furniture and home products seller <a href="http://www.businessinsider.in/searchresult.cms?query=Pepperfry">Pepperfry</a>, in a bid to make most of the festive season, has increased its merchant base, multiplied marketing outreach, has invested in doubling its logistics capabilities by expanding fulfillment centers, delivery and assembly capabilities as well as technology capabilities. 
 
The company’s chief marketing officer Kashyap Vadapalli said, "Our sales were up 200% (last Diwali) as we took necessary steps both at the logistics and supply end.” 
 
The coming festive months are crucial not just for the e-Commerce industry, but also for the companies providing logistics solutions. Logistics startup<a href="http://www.businessinsider.in/searchresult.cms?query=Delhivery+"> ‘Delhivery’</a> is expecting a significant surge in volumes, similar to last year. 
 "<keyword id="1560090" type="UNKNOWN" weightage="20" keywordseo="Delhivery">Delhivery</keyword> is continuously investing in technology, infrastructure and automation to ensure such surges are managed well during the festive season," said Mohit Tandon, co-founder, of the firm. However, with rising demand, these companies are bound to face innumerable challenges. 
 
"Since the logistics partners are common to almost all players, fulfilling the demands over a given period of time becomes a concern," said Praveen Sinha, managing director and founder of online fashion retailer Jabong. "It is not always easy due to the overwhelming response that we get during this time. It sometimes becomes challenging to have a constant stock of products," he added. 
 
In the past one year mobile and internet penetration has increased further indicating that this year online purchasing will grow multi-fold compared to Diwali 2014, Kushal Nahata, CEO and co-founder of enterprise mobility platform FarEye said. 
 
<a href="http://cdn.youthkiawaaz.com/wp-content/uploads/2014/10/26/bursting-crackers-just-one-day-year-harm-really-heres-much-needed-guilt-trip/Diwali-crackers.jpg">Image source</a>

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Pepperfry co-founder Ambareesh Murty passes away due to cardiac arrest

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Online furniture brand Pepperfry registers Rs 188 cr losses in FY23

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E-Commerce industry is ready to host the Diwali season. Are you?

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