Online furniture retailer Urban Ladder has appointed ex-Arvind Lifestyle executive Jaipal Singal as its chief financial officer (CFO) at a time when it is dipping its feet into the world of offline retail.
Singal brings along 14 years of experience in working for retail brands such as Marks & Spencers and Mahindra Retail, apart from Arvind Lifestyle.
"We are very excited to have Jaipal on board at a time when we have made a strategic shift from being an e-commerce company to a retail brand. His vast experience in the retail sector is a fantastic addition for us," said Ashish Goel, co-founder and CEO at Urban Ladder in a statement.
At Urban Ladder, Jaipal's primary responsibilities will include building a strong accounting function and bring in world class governance practices. He will also be tasked with driving financial prudence, to help the firm reach its goal of breaking even in the next 18 months.
The firm's decision to bring its products offline comes at a time when Swedish furniture and home retail giant IKEA is making an entry into the country. The firm has been drumming up its launch, which will happen sometime in December, by saying that its products in India will be the more affordable than any of the existing players.
"I believe the offline format is the right answer for ensuring homes across India have access to the Urban Ladder's experience. I am looking forward to contributing to the company's growth and building it into India's most loved furniture and home decor brand," said Singal.
