#Asia Retail conglomerate Future Group to acquire Rocket Internet-backed FabFurnish

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FabFurnish is a leading online furniture retailer with a listing of more than 80,000 products from over 600 local and international brands

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Indian retail conglomerate Future Group has agreed to acquire Rocket Internet-backed Indian online furniture retailer FabFurnish in an all-cash deal, according to various reports.

Other transition details were not disclosed.

Recently, there were reports that the German incubator was looking to exit FabFurnish.

Kishore Biyani, Founder and CEO of Future Groups, said: “With FabFurnish coming into the picture, we get a readymade digital platform that can harness physical retail and merge it with digital retailing. This acquisition will help us go omni-channel as it (FabFurnish) is an established player in the online space.”

Established in 2012, FabFurnish is a leading online home store, featuring a range of furnishings, decor and kitchenware from across the globe. The platform, owned and operated by Gurgaon-based Bluerock eServices, claims it has listed 80,000 products from 600-plus local and international brands on its platform.

Also Read: Close on Flipkart’s heels, Amazon India to sell furniture online

FabFurnish mainly competed with UrbanLadder and Pepperfry — both are backed by VC investors, besides e-commerce firms such as Flipkart, Snapdeal and Amazon.

Future Group is India’s second largest retailer after Reliance Retail. The group owns the hypermarket chain Big Bazaar, supermarket chain Food Bazaar and electronics store eZone, in addition to online shopping ventures such as Bigbazaardirect.com and futurebazaar.com.

Also Read: Flipkart adds furniture; should FabFurnish, Pepperfry worry?

Rocket Internet has a fairly good presence in India, with investments in foodpanda, Printvenue, Jabong, PricePanda, Couponation, and OfficeYes.

The post Retail conglomerate Future Group to acquire Rocket Internet-backed FabFurnish appeared first on e27.

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