Homedecor startup Livspace revenue rises 85% in FY23, Ebitda loss narrows
Livspace said its revenue for FY23 jumped 85% to Rs 1,147 crore, even as its losses narrowed.
The company said it has cut down its Ebitda (earnings before interest, tax, depreciation and amortisation) loss in India to half. The Singapore-headquartered company, which is valued at $1.2 billion, reported Ebitda before Esops of Rs 581 crore.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitIndian School of BusinessISB Digital TransformationVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitIndian School of BusinessISB Digital Marketing and AnalyticsVisitFounded in 2015 by Ramakant Sharma and Anuj Srivastava, Livspace provides a three-sided marketplace and design automation platform that connects homeowners, certified designers and vendors.
Its investors include private equity major KKR, Ingka Group Investments, part of IKEA parent company Ingka Group, Jungle Ventures, Venturi Partners, Peugeot Investments, among others. Till date it has raised $450 million from investors.
“We achieved a top-line growth of 85% across the business, with our revenue reaching nearly Rs 1,100 crore. Business expansion, investment in branding and experience centres, and improving the supply chain helped the company achieve high growth in the fiscal year,” said chief strategy officer Ankit Shah.
Going forward, Livspace said it plans to expand to over 100 cities in India, the Middle East and Southeast Asia.
The company said it aims to become cash positive by the end of FY24, and continues to invest in strategic partnerships, creating value across its ecosystem
The interior decor-retailer said its margins showed a 142% growth to Rs
