Brands
Pepperfry raises Rs 250 cr for expansion
MUMBAI: Pepperfry, a furniture and home marketplace, has raised Rs 250 crore in a fresh round of funding from State Street Global Advisors, the asset management business of State Street Corporation, an investment management company with $ 2.78 trillion in assets under management (AUM).
The fresh funds will be deployed to expand Pepperfry’s experience centres in tier II towns, invest behind developing AR/VR technology for virtual touch and feel, and enhance the private brand franchise in preparation for its next financial milestone of an IPO.
Pepperfry founder and CEO Ambareesh Murty considers the company as fortunate to have partners who believe in Pepperfry’s business and are aligned with their strategy.
Including this current round, Pepperfry has raised over Rs1200 crore of capital since it began operations six years ago.
Home furniture and decor is amongst the largest consumption categories in India, expected to reach Rs 350,000 crore in market size by 2020. Leveraging this opportunity, Pepperfry aims to differentiate across the value chain, build supply and demand side differentiation by working with thousands of small manufacturers, develop an extensive portfolio of private brands, establish an omnichannel footprint of over 25 Pepperfry experience centres and build India’s largest consumer-facing big-box supply chain serving customers in 500 Indian cities.
In the last five years, the company’s revenue has grown at a compounded annual growth rate of over 83 per cent, and with this fresh round of investment, aims to accelerate past the break-even point and become a profitable business over the next 12-18 months.
Brands
Nestlé weighs trimming ice cream footprint and Froneri stak
Swiss giant reviews options including stake cut in €15bn JV as it eyes higher-margin focus post-Unilever split.
MUMBAI: Nestlé is melting down its ice cream ambitions or at least scooping back a few spoonfuls amid a strategic review that could see it slim its stake in blockbuster joint venture Froneri. According to a Bloomberg report published 18 February 2026, the Swiss food and beverage powerhouse is mulling a reduced presence in the global ice cream segment. Options on the table include trimming its holding in Froneri, the joint venture with private equity firm PAI Partners that houses crowd-pleasers like Häagen-Dazs, Mövenpick, and Rowntree’s or even shifting some of Nestlé’s remaining wholly owned ice cream operations into the JV.
Discussions remain fluid, with no final decisions locked in and no guarantee of any transaction materialising. One scenario has PAI Partners boosting its ownership if Nestlé pulls back, while another could see the Swiss group offloading a portion of its stake to an existing investor like the Abu Dhabi Investment Authority (ADIA).
Froneri itself got a hefty valuation boost in October (likely 2025), when Goldman Sachs and ADIA poured in fresh capital, pegging the business at around €15 billion (about $17.69 billion). The move turned heads in the sector, especially as Unilever spun off its ice cream arm last year into the now-independent Magnum Ice Cream Company freeing both giants to chase sunnier, higher-margin pastures.
Nestlé’s rethink, reportedly overseen by new CEO Philipp Navratil as he sifts through the company’s vast portfolio, mirrors broader industry trends: consumer giants are sharpening focus on core strengths amid shifting tastes and profitability pressures. Ice cream might be delicious, but it’s not always the creamiest part of the balance sheet.
Whether this ends in a stake sale, JV expansion, or just more pondering, the frozen dessert world could soon see another ownership shake-up. For now, Nestlé isn’t screaming “last orders” but it’s definitely checking the freezer temperature.
