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Wayfair is adding to its already-massive inventory of “a zillion things home.”
Today the large online retailer of home goods and furnishings announced that it has acquired DwellStudio, a lifestyle brand that creates furniture, bedding & bath products, rugs, home decor and accessories, and items for babies and kids.
Wayfair is the second largest retailer of home goods in the United States. The company has since raised over $200 million, attracts over 12 million visitors a month, and is on track to hit $1 billion in sales this year. It was founded in 2002, long before before e-commerce was as mainstream as it is now. Back then it was an amalgamation of small, item-specific sites that became an integrated entity known as Wayfair in 2011. The company sells items from other brands and retailers, but is also focusing on building its own portfolio of product lines.
DwellStudio will now come under Wayfair’s umbrella and operate as a standalone brand, along with Wayfair’s other properties Joss & Main and AllModern.com. The acquisition will help DwellStudio expand its own manufacturing and distribution efforts. DwellStudio is based in New York City and its products are sold in more than 800 high-end stores around the world, including Neiman Marcus and Nordstrom. Wayfair will also use members of Dwell’s product design team to develop other original products.
Buying furniture can be a hassle and many people don’t want to dedicate nights and weekends to furniture shopping. Online ordering makes it easier to peruse a wide range of options, make comparisons, and deal with shipping. Wayfair’s CEO Niraj Shah told VentureBeat that the numbers for buying home goods online is going up, and Wayfair wants to “run” with that opportunity
“Most people don’t buy home goods until they are 30 years old and have a house or are married with kids.” Shah said. “The group that is at this stage in their life now is the first to grow up with the internet, so their willingness to buy online is high compared to other folks and it goes up every year. E-commerce keeps on getting better and better and people feel more comfortable making purchases online. We want people to start by looking here, because we have everything.”
Wayfair integrated daily flash sales into its business model earlier this year. It now has over five million options from 5,000 brands. The company is based in Boston and has 1200 employees.