Online furniture and home products company,Pepperfry is all se to increase headcount.
Online furniture and home products company,Pepperfry is looking at doubling its headcount by 2016. Further, it is targeting to add around 2,500 people including delivery operations to its existing headcount of 1,100. Flush with funds, Pepperfry is also increasing its delivery vehicles from 150 to 450 in the same time period.
Commenting on the development,Founder and COO of Pepperfry, Ashish Shah said:
'The online furniture and home products company, which has raised a total of $29 million so far, is also in the process of raising another Rs 500 crore. "We are in a massive ramp-up mode. Also, we are raising $60-80 million and are not in a hurry to close this till we find the right investors. We still have plenty left from our last rounds to fund our operations.Besides, the company will break even by mid-2016.'
Work is on to launch 'Studio Pepperfry' all across key cities. It is shortly opening one each in Delhi and Gurgaon and two in Bangalore in the next two months. For this year, it is aiming to launch 20 such studios.
The company is also hiring designers from premier institutes for these stores to get direct feedback from customers while designing furniture and other products. Currently, its core team has about 500 employees, besides 650 in the delivery team.
Most members of the senior management team at Bertelsmann India Investments and Silicon Valley-based Norwest Venture Partners-funded Pepperfry are from premier institutes like the IITs and IIMs.
Pepperfry has about 25% of its workforce in the top performer category. Apart from the annual appraisal, the company also goes in for mid-year appraisals. "We call this an exceptional mid-year cycle where we give bonuses to only a few deserving employees based on the last sixto-eight-months' performance," Shah added.
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