Online furniture and home products marketplace Pepperfry is looking to tap a new business opportunity with the launch of furniture rental services for customers in Mumbai, Bengaluru, Delhi, Gurugram, Hyderabad, Pune, Chennai, Noida and Ahmedabad.

The firm has identified a new class of consumers who are participating in the sharing economy, consisting of 22-35 year-old, online-savvy and migrant millennials across the country, who can potentially spend upwards of $1 billion per annum on furniture and related items’ rentals alone.

Customers can rent furniture across various categories such as beds, sofas, wardrobes, kids’ room furniture, entertainment units and dining sets from a selection of over 1,200 products available for a term of 6, 9 or 12 months.

“We have identified furniture rentals as an additional growth driver in our journey towards establishing 20 million beautiful homes and are targeting migrant millenials who value experiences more than ownership of physical assets. This new segment will contribute hugely to the core Pepperfry furniture selling business in the coming years,” said Kashyap Vadapalli, CMO, Pepperfry.

Hussaine Kesury, Head of Furniture Business at Pepperfry, said the current furniture rental options for consumers are primarily utilitarian in nature. “We are providing 5-10x more choices to consumers across price points and designs, aiming to fulfil both the utility and design aspects that consumers are looking for. We have the most extensive high-on-design, solid furniture available for rental in the country.”

Pepperfry provides customers with free delivery and assembly service. Additionally, customers can also benefit from zero-cost EMI options for payment. Customers also do not need to deposit any security or Know Your Customer (KYC) documents to rent furniture and can choose to extend the rental tenure at the end of the service period.

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