TCC Concept to Acquire Pepperfry: A Strategic Move in the E-Commerce Furniture Market
TCC Concept, a leading real estate service provider, has signed a term sheet to acquire up to 100% of the shares of Pepperfry, an omnichannel furniture retailer. This move aims to bolster TCC Concept's presence in the e-commerce sector and leverage Pepperfry's established market position.
Real EstateEcommerceTcc ConceptPepperfryAcquisitionReal Estate NewsSep 20, 2025
Pepperfry was last valued at $367 million, or more than Rs 3,200 crore, following a Rs 43 crore fundraise in June this year. TCC Concept’s market cap, as of Friday’s close, stands at Rs 1,846 crore. Following the announcement, shares of TCC Concept hit an upper circuit of 5% at Rs 543.35.
Pepperfry has been seeking a buyer since last year, as its sales slowed and profitability remained elusive. The company also put its IPO plans on hold following the sudden passing of its co-founder and former CEO, Ambareesh Murty, in August 2023. Ashish Shah, the other co-founder, was subsequently appointed as CEO.
In the financial year 2024, Pepperfry’s revenue dropped by 30.6% year-on-year to Rs 188.98 crore. However, the company managed to narrow its losses by 37% to Rs 117.4 crore, down from Rs 187.6 crore in the previous year. This improvement was achieved by nearly halving advertising costs and significantly reducing employee-related expenses.
Founded in 2012 by Shah and Murty, Pepperfry initially operated as an online-only platform. Over the years, it has expanded to over 200 physical stores, competing with other major players such as Wooden Street and Reliance-backed Urban Ladder, as well as traditional and local furniture retailers.
In a filing to the stock exchange on Friday, TCC Concept stated that the acquisition is intended to strengthen its presence in the e-commerce space, complementing its core focus on technology-driven platforms. Besides commercial real estate, TCC Concept also provides co-location and hosting solutions for data centers and has a data analytics platform for real estate stakeholders.
By integrating Pepperfry’s established furniture and home goods marketplace with TCC Concept’s innovation and digital expertise, the company aims to enhance customer experience, create operational synergies, and unlock new growth opportunities. This strategic move is expected to position TCC Concept as a significant player in the e-commerce furniture market, leveraging Pepperfry’s strong brand presence and customer base.
Frequently Asked Questions
What is TCC Concept's main business?
TCC Concept is a BSE-listed real estate service provider that offers a range of services, including commercial real estate, co-location and hosting solutions for data centers, and a data analytics platform for real estate stakeholders.
What is Pepperfry?
Pepperfry is an omnichannel furniture retailer that started as an online platform and has expanded to over 200 physical stores. It competes with other major players in the furniture market such as Wooden Street and Reliance-backed Urban Ladder.
Why is TCC Concept acquiring Pepperfry?
TCC Concept is acquiring Pepperfry to strengthen its presence in the e-commerce space, complement its core focus on technology-driven platforms, and leverage Pepperfry’s established market position in the furniture and home goods sector.
What is the current market cap of TCC Concept?
As of Friday’s close, TCC Concept’s market cap is Rs 1,846 crore.
How has Pepperfry's financial performance been recently?
In the financial year 2024, Pepperfry’s revenue dropped by 30.6% year-on-year to Rs 188.98 crore, but the company managed to narrow its losses by 37% to Rs 117.4 crore, down from Rs 187.6 crore in the previous year.
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