Wayfair.com acquires DwellStudio
Furniture Today Staff -- Furniture Today, August 2, 2013
BOSTON — Online retailer Wayfair.com has acquired New York-based online retailer DwellStudio in New York for an undisclosed price.
DwellStudio is known for its upscale modern lifestyle home furnishings and textiles. It operates a small, 3,000-sqaure-foot showroom on Wooster Street in New York's SoHo neighborhood, and is a catalog and e-commerce retailer as well as an international wholesaler, with customers that include Neiman Marcus, Nordstrom, ABC Carpet & Home and HD Buttercup.
In a release, Wafair.com said the purchase strengthens its "leadership position in home retail by adding a popular lifestyle brand with core competencies in original design and product development. It also accelerates Wayfair.com's launch of proprietary goods this year, while addressing new market segments.
DwellStudio will operate as a standalone brand, joining Joss & Main and AllModern.com. Wayfair said its own core strengths in selection, service, internet technology and logistics will drive DwellStudio's growth, while DwellStudio gives Wayfair access to a "world-class product design team for the development of original product lines and new lifestyle brands."
"DwellStudio has built a following of devoted customers who enthusiastically identify with a certain lifestyle and modern design aesthetic," Niraj Shah, CEO and co-founder of Wayfair.com, which is running at an annual sales rate of more than $1 billion.
"We look forward to expanding the DwellStudio brand through our world class e-commerce capabilities while staying true to DwellStudio's strategy of developing and delivering trend-setting products of exceptional quality to a growing customer base through a large number of partners."
Christiane Lemieux, CEO, founder and creative director of DwellStudio, said Wayfair is transforming the way people shop for home furnishings, noting among other things that Wayfair has "the best backend in the business."
"Our design, merchant and product development teams are so excited to help fuel Wayfair.com's move into new market segments and additional proprietary product categories," Lemieux said.
John Mulliken, Wayfair senior vice president of strategic initiatives, called the acquisition, "a logical step on Wayfair.com's path to becoming the dominant retailer in home."
"We will enable DwellStudio to scale its core business at a much greater pace while staying true to its design DNA and commitment to the highest quality products for home," he said
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