Furlenco Launches World's First Furniture Subscription Company 'UNLMTD by Furlenco'
Furlenco Launches World's First Furniture Subscription Company 'UNLMTD by Furlenco'

Furlenco, a furniture rental company, has launched the world’s first furniture subscription service, 'UNLMTD by Furlenco', an annual subscription service that offers customers all the furniture and appliances they want in one go and at one price. The company last week announced the closure of its series D funding of Rs 1,000 crore.

With UNLMTD by Furlenco, the company has disrupted the Indian furniture industry and aims to change the way the category thinks of its offerings. Customers all over the world set up their homes in a progressive manner; adding furniture piece by piece, often compromising on the quality of life they have at the moment. UNLMTD allows them to break away from these staggered and compromised purchases and choose to subscribe to whatever they want at just one price.

UNLMTD gives people the power to get all the products they want - furniture and appliances - in one go. It currently offers two annual subscription plans - Premium and Lite, the fees for which are paid annually and work out to just Rs 4,999 per month for 15 products and Rs 3,999 per month for 9 products, respectively. This also means that customers now will have the power to set up their entire home by paying a one-time subscription fee and without compromising on the range or quality of furniture. 

The subscription offers a choice of more than 150 products, designer furniture, and appliances that have been picked keeping in mind the functional and aesthetic needs of a home. It also comes with a flexibility of a 45-day window for customers to swap and try furniture till they make up their minds. As a yearly subscription, it will also give subscribers a chance to give their home a new look every year or upgrade their furniture as their life changes. The subscription service is currently available in Bengaluru, Mumbai, Pune, Delhi, Noida, Gurugram, Ghaziabad, Faridabad, Hyderabad, and Chennai.

Ajith Mohan Karimpana, Founder & CEO, Furlenco, said, "Over the years, we have learned that people set up their homes, step by step over months and years - because of the financial strain and the time and effort it requires. We wanted to come up with a way to ensure our customers don’t have to compromise on what they want at home or the quality of it or the cost. And that was the genesis of UNLMTD."

"Here is a subscription service that offers all the products you want at a one-time annual fee. Be it a sofa or a bed or a washing machine or a lamp, you can take everything you want. This is truly disruptive and I believe it will change how our consumers, how the category, and the world itself look at furniture. The funds we have raised will play a critical role in this journey and fuel us in building the right kind of furniture subscription model for modern India," he added.

Furlenco is leading the transformation in the space of furniture subscription and shared economy by reimagining B2C commerce and investing heavily in technology-first innovations.

Furlenco offers furniture packages across all key categories, including living room furniture, beds, dining tables, study solutions, workstations, loungers, and much more. This expansive product catalog is now available to UNLMTD customers at a fixed annual subscription amount, allowing them to pick and choose the combination of products that best suits their needs. Other than furniture, Furlenco also offers a host of appliances such as laptops, microwave ovens, LED televisions, washing machines, and has recently launched and expanded its services to renting two-wheelers, gaming consoles, entertainment, and fitness equipment as well.  

 
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Retail India News: Convergent Finance and Samara Capital to Acquire Majority Stake in Agro Tech Foods Limited
Retail India News: Convergent Finance and Samara Capital to Acquire Majority Stake in Agro Tech Foods Limited
 

Convergent Finance LLP and Samara Capital have jointly declared the finalization of definitive documents for acquiring a 51.8 percent stake in Agro Tech Foods Limited (ATFL) from a subsidiary of Conagra Brands, Inc. ATFL, a listed company on the Bombay Stock Exchange and the National Stock Exchange, will undergo a mandatory open offer for an additional 26.0 percent of outstanding shares due to this acquisition. The deal is pending customary regulatory approvals and is anticipated to be completed in due course.

Conagra has been a controlling shareholder of ATFL since 2011, and during its tenure, ATFL expanded its food portfolio, featuring renowned brands like ACT II popcorn and Sundrop edible oils. Both brands are leaders in their categories, catering to both in-home and out-of-home consumption. ATFL will retain the license for the ACT II brand from Conagra for use in India.

Harsha Raghavan, Managing Partner at Convergent Finance said, “Agro Tech Foods’ category-defining brands have been beloved household names for the past three decades, thanks to the company’s relentless focus on quality, innovation, and customer delight. As India’s rapidly-growing consumer class expands and discretionary income levels continue to rise, we will expand ATFL’s distribution reach and product range, thereby transforming it into the country’s leading packaged and snack food platform.

Manish Mehta, Managing Director and Co-Chief Investment Officer at Samara Capital said, “We are delighted to lead the acquisition of a majority stake in ATFL in partnership with Convergent. The company’s brands have high recall value with India’s consumers, and we aim to complement this hard-earned recognition with our knowledge of India’s food and consumer sectors to increase ATFL’s presence in fast-growing, high-margin categories. We intend to create a large and unique branded food platform in the country with this acquisition.

Convergent Finance LLP, known for its investment management and advisory role, follows a value investing approach, emphasizing fair valuations through negotiated transactions. Samara Capital, founded in 2007, is a mid-market private equity firm in India with a focus on creating long-term value in partnership with entrepreneurs. Consumer and Retail form a significant focus area for Samara.

Conagra Brands, Inc, headquartered in Chicago, is a leading North American branded food company with a portfolio of iconic brands, including ACT II, Birds Eye, Duncan Hines, Healthy Choice, and Marie Callender’s, among others. The company is driven by a commitment to innovation and evolving to meet changing food preferences.

 

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