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They raised ₹770 crore and sold the entire company for ₹182 crore. The problem was never the furniture. Think about how often you buy a sofa. Maybe once in eight or ten years. That single fact quietly breaks the whole business. Every online brand spends money on ads to win a customer. If that customer comes back twenty times, like with beauty products or groceries, the ad money pays for itself. Furniture buyers come back once a decade. So the very first order has to cover the full cost of winning them, and it almost never does. Returns make it worse. A shirt sent back goes straight to the shelf. A sofa sent back needs a truck and two men, and usually arrives damaged. You rarely sell it again at full price. Even the fix became a trap. Your own delivery and installation team works beautifully in one city, where orders are close together. Spread it across twenty cities and you are paying for trucks and staff that sit idle. The numbers say the rest. A loss of around ₹458 crore in FY17. A peak value of ₹1,200 crore in 2018. Sold for ₹182 crore two years later, because what was really being bought was a known name, not a working business.
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