Ashish Shah, the co-founder and CEO of Pepperfry, has been instrumental in transforming the way Indians shop for furniture and home décor. With over two decades of experience in the e-commerce industry, Shah has led Pepperfry to become a household name, offering a wide array of well-designed products to help customers create inspiring and functional living spaces. His journey from a chemical engineer to a pioneering entrepreneur showcases his vision, perseverance, and leadership skills.
Professional Journey
Shah began his career in 1998 as a branch sales manager at Tradox Pigments & Chemicals, where he gained valuable experience in sales and operations. He then moved on to ChemB.com India as the regional manager for the North, followed by stints at C1 (Commerce One) India Pvt. Ltd. and Baazee.com, where he held various managerial roles. In 2004, he joined eBay Motors India as the Head of Sales and Operations, eventually taking charge of eBay Motors in India and the Philippines by 2008. His time at eBay provided him with deep insights into the e-commerce landscape, which he would later leverage in founding Pepperfry.
Founding Pepperfry
In 2011, Ashish Shah, along with his colleague Ambareesh Murty, co-founded Pepperfry with a vision to revolutionize the furniture and home décor market in India. Starting with an initial funding of $5 million from Norwest Venture Partners India, the duo set out to create an online marketplace that offered a vast range of products, from furniture to home accessories. Initially launched as a horizontal marketplace focusing on fashion and lifestyle, Pepperfry soon pivoted to specialize in furniture and home décor, recognizing the untapped potential in this segment.
The name “Pepperfry” was chosen to reflect a uniquely Indian yet fun brand identity. Shah and Murty even created ‘Pepperfry TV’ to explain their vision, interviewing food business owners to draw parallels with their innovative approach to retail.
Growth and Leadership at Pepperfry
As the Chief Operating Officer (COO), Shah played a pivotal role in shaping Pepperfry’s customer-centric strategy, supply chain strengths, and operational excellence. Under his leadership, Pepperfry expanded its presence across India, launching experiential stores that allowed customers to experience the products firsthand. By 2019, the company had over 70 stores across 28 cities, and as of 2023, it operated 43 company-owned studios and 142 franchise-owned studios.
In 2023, following the untimely demise of co-founder Ambareesh Murty, Shah was appointed as the CEO, taking on the responsibility of steering the company forward. In an interview with Brand Wagon News, Shah shared his vision: “We plan to have 200 studios by March next year, expanding our reach to newer markets and categories. Our goal is to become a high-growth company, enhancing our tech capabilities to provide an even better shopping experience for our customers.”
Ashish Shah’s strategic decisions have included embracing digital payments, with only 1% of Pepperfry’s transactions being cash on delivery as early as 2016, as noted in an Economic Times interview. This focus on digital innovation helped Pepperfry recover quickly from challenges like demonetization.
Recent Developments
Since taking over as CEO, Shah has focused on building on the foundation laid by Murty. In a statement following his appointment, he said, “Pepperfry remains focused on its mission to provide a wide array of well-designed products to help customers create inspiring and functional living spaces. I am honored to lead this incredible team and build on the foundation we have laid together”.
Financially, Pepperfry faced challenges in FY24, reporting a 30.6% year-on-year decline in operating revenue to Rs 188.9 crore, but managed to cut its net loss by 37.4% to Rs 117.5 crore. Shah remains optimistic, with plans to expand to 150 cities in the next 2-3 years. In 2023, the company also secured $23 million in funding from existing investors, underscoring confidence in Shah’s vision.
Pepperfry launched its second edition of the Home Report Card ‘Rewind 2024’, which provides insights into emerging home design trends and changing consumer behaviors. This initiative reflects Shah’s commitment to understanding and meeting customer needs.
Impact and Legacy
Under Ashish Shah’s leadership, Pepperfry has transformed the furniture retail landscape in India, making quality and affordable products accessible to a wider audience. His strategic vision and operational expertise have been key to the company’s growth and success. By pioneering digital payments and experiential retail, Shah has set new standards in the industry.
As Pepperfry continues to expand and innovate, Shah’s legacy as a pioneering entrepreneur in the e-commerce sector is firmly established. His story inspires aspiring entrepreneurs and highlights the potential for innovation and growth in India’s dynamic business landscape.
