The company is eyeing to integrate Pepperfry’s established furniture and home goods marketplace with its innovation and digital expertise
Aimed at strengthening its presence in the ecommerce and digital marketplace space, TCC Concept, a realty services company, has signed a term sheet to acquire up to 100 per cent stake in furniture and home goods platform Pepperfry.
However, the company did not reveal the deal size or the timeline of the acquisition. In a stock exchange filing, the TCC Concept noted that the proposed transaction is subject to inter alia completion of satisfactory due diligence of Pepperfry, execution of definitive agreements and fulfilment of the conditions as may be applicable from time to time.
“The acquisition of Pepperfry is intended to strengthen TCC’s presence in the ecommerce and digital marketplace space, complementing its core focus on technology-driven platforms. By integrating Pepperfry’s established furniture and home goods marketplace with TCC’s innovation and digital expertise, the company aims to enhance customer experience, create operational synergies and unlock new growth opportunities,” the company emphasised in its exchange filing.
This acquisition is in line with TCC’s vision of building scalable and technology-enabled consumer platforms, the statement added. Pepperfry competes with major ecommerce platforms like Amazon and Flipkart. The company, founded in 2012, generates a major portion of its revenues from commissions on product sales.
The reports noted that Pepperfry secured Rs 43.3 crore from existing investors including Goldman Sachs, General Electric Pension Trust, Norwest Venture Partners and Growth Equity Opportunity Fund.
