Urban Ladder wants to move in for single brand retail license

Urban Ladder, the brand that sells home and office furniture online, has sought government approval to transform its business to single brand retail. Recently, the firm has submitted an application to the government asking to convert into single brand retailer so that it can stock products and sell them directly to consumers and still retain its foreign investments.

If the brand manages to get a node from the government then it will be the first foreign-funded ecommerce portal to make the full use of the recent amendments. The government of India has of late made few changes in its FDI policy to provide an extra cushion to foreign-funded single brand companies to sell directly through online portals, provided they also have brick-and-mortar stores.

Urban Ladder Home Decor Solutions Pvt Ltd has sought approval of the Department of Industrial Policy and Promotion (DIPP) "to undertake single brand retail trading under the brand name Urban Ladder" stated the application filed on September 5, the sources said.

However, when contacted by the media, Rajiv Srivatsa, Founder, Urban Ladder, evaded off from commenting anything on the application. Presently, the Urban Ladder is not involved in selling directly to the customers as its hands are tied because of the norm that restricts the foreign-funded marketplace operators from selling directly. They are only allowed to provide a technological platform to the retailers to sell their products.