This is a very unconvincing response from management. Pepperfry offline stores are furniture and home goods related. So, it is not a technology company. As for Pepperfry having an online platform for seller to sell their furniture products, it still remains a furniture company. There are aggregators, distributors, etc who use technology for their business. Even banks rely heavily on technology. Banks have a much more robust tech team than the one that Pepperfry may be having. That doesn’t change the nature from a Finance company to a Technology company.
It is so unfair to EFC (I) investors that Pepperfry, a natural furniture forward integration, is sitting in another group company, TCC, by lamely and unconvincingly terming it as a technology company. Profits from Pepperfry, by sellling third party furniture products, etc will not be enjoyed by EFC (I) investors.
Use of technology is so pervasive in many sectors— that doesn’t make all businesses using technology a tech company.
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