Online furniture and home goods marketplace Pepperfry has announced the elevation of its Co-founder Ashish Shah to the position of Chief Executive Officer.
The appointment follows the untimely demise of Ambareesh Murty, Pepperfry’s Co-founder and former CEO.
Shah co-founded the company alongside Murty in 2012. He was COO of the company, heading operations, category management, product and omnichannel business.
“Pepperfry remains focused on its mission to provide a wide array of well-designed products to help customers create inspiring and functional living spaces. Pepperfry has always been committed to enhancing the way people create homes, and I am honoured to lead this incredible team of dedicated individuals who share this passion. The best tribute to Ambareesh will be to build on the foundation laid by us and fortify Pepperfry’s position as India’s leading furniture and home products company,” said Shah.
An official statement informed that Pepperfry has undertaken several initiatives in the past few months that have helped it move towards sustained profitability – which it is now close to.
The company has secured $23 million in funding from existing shareholders, including institutional investors and family offices, it added.
The brand has a retail footprint of over 190 studios in over 100 cities.
Pankaj Makkar, MD, Bertelsmann India Investments, an early backer of Pepperfry, said, “We’ve been partners with Pepperfry for nearly a decade now. I’ve seen the company grow quickly, thanks to the capable leadership of co-founders Ambareesh and Ashish. After Ambareesh’s unfortunate and untimely passing, it’s only natural that Ashish takes the helm as CEO. He will continue to lead the company towards a promising future, driving excellence across all areas of business and technology.”
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