Wayfair.com Acquires DwellStudio Expands Brand Portfolio; Adds Expertise in Product Design and Development with Plans to Launch New Lines and Brands in 2013
BOSTON, Aug. 2, 2013 /PRNewswire/ -- Wayfair.com, the largest online retailer of home furnishings and decor, today announced it has acquired DwellStudio, a lifestyle retailer known for groundbreaking design and impeccable quality in modern home furnishings with expertise in upholstery, case goods, furniture and textiles for baby, kids and home. The acquisition further strengthens Wayfair.com's leadership position in home retail by adding a popular lifestyle brand with core competencies in original design and product development. The deal will accelerate Wayfair.com's launch of proprietary product lines and lifestyle brands in 2013 while addressing new market segments.
Under the Wayfair.com umbrella, DwellStudio will operate as a standalone brand joining Joss & Main and AllModern.com to satisfy increasing demand for unique shopping experiences in the home furnishings space. Wayfair.com's core strengths in selection, service, internet technologies and logistics will drive the rapid growth of DwellStudio. At the same time, Wayfair.com will have access to DwellStudio's 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," noted Niraj Shah, CEO and co-founder of Wayfair.com. "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."
Based in New York City with a flagship retail store at 77 Wooster Street in SoHo, DwellStudio is a catalog and e-commerce retailer with a worldwide wholesale business. The company's products are currently sold in more than 800 high-end specialty retail stores and design oriented online retailers across the United States, Canada and throughout 40 international territories. Known for its modern sensibility, iconic textiles and forward colors, DwellStudio products can be found at Neiman Marcus, Nordstrom, Giggle, Bel Bambini, ABC Carpet, HD Buttercup and F.A.O. Schwarz.
"We are thrilled because Wayfair.com is truly transforming the way people shop for home goods and furniture through innovative e-commerce solutions, extraordinary customer service and state of the art logistics. They have the best backend in the business," noted Christiane Lemieux, CEO, founder and creative director of DwellStudio. "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. At the same time, we want our customers to know that we remain dedicated to building the DwellStudio brand with a continued commitment to beautiful original design and impeccable construction. It's the perfect marriage of style and substance."
"DwellStudio is an ideal addition to Wayfair.com's portfolio of brands – joining Joss & Main, AllModern.com and Wayfair.com to meet market demand for distinctive modern design in bedding, furnishings and decor, with a special emphasis on products for baby and children," added John Mulliken, Wayfair.com's SVP of strategic initiatives. "The acquisition is 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."
DwellStudio was represented by Financo in the transaction.
Founded in New York City in 1999 by Christiane Lemieux, DwellStudio is the design house for modern home and family furnishings. With sophisticated styling and fashion forward designs, the company's products – which include furniture, bedding, home accessories and a line of baby and children's furnishings – find excitement in the unexpected. DwellStudio is known for its contrasting styles, and the studio's philosophy is simple: take classic elements and twist them into a modern setting, knowing that style is never static and the home is an ever-evolving place. DwellStudio furnishings can be found at their flagship store in NYC, in specialty and lifestyle shops around the world and at www.dwellstudio.com.
Wayfair.com offers a zillion things home – the largest selection of home furnishings and decor across all styles and budgets. With more than five million options from 5,000 brands, we are dedicated to helping people find the perfect product at the right price. Our unparalleled selection and superior customer service coupled with the convenience of online shopping makes it easier than ever before to find exactly what you want for your home. Other sites under the Wayfair.com umbrella include AllModern.com, a leading retailer of original modern design, and JossAndMain.com, the fastest growing private sale site for the home.
Headquartered in Boston, Massachusetts, Wayfair.com employs more than 1200 people and operates distribution and operations centers in Ogden, Utah and Hebron, Kentucky, and international offices in Galway, London, Berlin and Sydney. The company was recently named one of America's Most Promising Companies by Forbes Magazine.
For more information, please visit www.wayfair.com.