Wayfair.com Launches as Online Shopping Mega-Site with Largest Selection of Home Products Anywhere E-commerce Giant CSN Stores Consolidating 200 Sites Into One Robust Brand
BOSTON, Sept. 1, 2011 /PRNewswire/ -- The U.S. home goods market is estimated at $500 billion annually, but there's no single destination to purchase all things home. That is, until now. Launching today, Wayfair.com (formerly CSN Stores) is an online shopping mega-site carrying the largest selection of home products anywhere with more than 4.5 million items from 5,000 brands.
A boon for home shoppers, this launch also marks a major strategic development for CSN Stores LLC. Over the past nine years, CSN has experienced significant growth by focusing its efforts on 200+ sites, named for the category of goods they carry, such as Cookware.com, Luggage.com, Strollers.com, and BedroomFurniture.com.
Now, as the company is on course to surpass $500 million in sales this year, it's consolidating all of these sites, which represent a comprehensive catalog of everything for the home, from barstools to beds, into one recognizable and robust branded destination, Wayfair.com.
"After years of growing successfully and profitably by selling and delivering huge items including bedroom sets, gazebos, and grills from 200 different sites, we decided it was time to refresh what we do best and focus on one new site to benefit our customers," said Wayfair CEO Niraj Shah. "We also have a more consumer-friendly name, an attractive logo and layout, and a technically advanced site platform – upgrades that give customers faster, more enjoyable, and memorable shopping experiences all in one place."
Sporting a new tagline, "a zillion things home," Wayfair.com will expedite searches for specific items while also giving consumers broader browsing ability to view other home-related categories, including furniture and decor, cookware, lighting, tools, flooring and more.
Wayfair.com offers all styles to satisfy any budget, because when it comes to home products, everyone is looking for something a little different. For example, best-selling loveseats range from a traditional piece from Skyline for $449, to a casual style from Rowe for $1,470, to a modern settee from Knoll for $3,823. All three ship for free.
"Our mission is to become the favorite place to buy anything for your home," said Wayfair's Chairman Steven Conine. "Based on our selection, strong service and competitive pricing we think this is achievable. We also keep our selection fresh by adding tens of thousands of new items each month."
The rebranding follows the company's first round of institutional funding – June's $165 million investment from Battery Ventures, Great Hill Partners, HarbourVest Partners and Spark Capital. According to The MoneyTree Report, it was the largest round of funding in the U.S. during Q2, 2011. This funding supports the Wayfair transition, appropriate acquisitions, and other plans for corporate expansion in the U.S. and globally.
To both accelerate and manage its growth, the company is aggressively hiring. The staff has more than doubled in two years, jumping from 400 to more than 850 employees to date. The company plans to hire as many as 200 additional people by year's end, bringing the total number to more than 1,000. Job openings span several offices and departments, and are frequently updated at http://www.Wayfair.com/careers.
Beyond Wayfair.com, the current brands AllModern and Joss & Main will remain, as well. AllModern.com caters to people who prefer the modern design aesthetic and JossAndMain.com is the company's first flash sale site, offering goods at up to 70 percent off during 72-hour sales.
Earlier this year, CSN Stores (now Wayfair) surpassed Crate&Barrel in industry rankings to become the No. 2 online retailer of home furnishings and housewares in the U.S., based on annual sales. In the past two years, the company has grown more than 50 percent annually.
Formerly CSN Stores LLC, Wayfair LLC is the parent company for Wayfair.com (www.Wayfair.com), which offers a zillion things home – the largest catalog of home items anywhere, crossing all styles and budgets, and covering 5,000 brands of furniture, lighting, cookware and more. With this massive selection -- more than 4.5 million products -- chances are good people can find just the right items for their homes. Other sites under the Wayfair umbrella include AllModern.com and JossAndMain.com.
Beyond its Boston, MA headquarters, Wayfair has an operations and distribution center in Ogden, UT, and another distribution center slated to open in Hebron, KY, this fall. Wayfair's international offices are in Galway, London and Munich.