Online retailer Wayfair.com tops $1 billion in sales
January 10, 2014,
BOSTON — After a little more than a decade in business, home furnishings e-commerce giant Wayfair.com topped $1 billion in orders this past year.
Niraj Shah, co-founder and CEO of the Boston-based company confirmed that order volume exceeded $1 billion in 2013, and delivered sales were more than $900 million, for a growth rate of more than 50% year over year. Total sales in 2012 were just under $600 million.
Wayfair doesn't break out its furniture, bedding and accessories sales but Shah said furniture and décor represents "the vast majority of business." It's believed to be fastest growing segment for the e-commerce giant, too.
The online retailer, which started in 2002 as CSN Stores, changed its name to Wayfair.com in September 2011 and now operates under four e-commerce banners - the core Wayfair.com, fast growing flash sale site Joss & Main, AllModern and DwellStudio, which also has a small showroom in New York's SoHo neighborhood.
Wayfair.com previously reported that Cyber Monday sales topped $9 million, for its biggest sales day in history, and that sales for the long holiday weekend - Thanksgiving day through Cyber Monday - reached $25 million, up 56% from a year ago.
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