ERNESTA, A NEW DIRECT-TO-CONSUMER RUG COMPANY, WELCOMES KEY LEADERSHIP HIRES

Four new leaders bolster design leadership and operational excellence

NEW YORK, Jan. 31, 2023 /PRNewswire/ -- Ernesta (ernesta.com), a new direct-to-consumer rug company is delighted to announce today the appointment of a Chief Financial Officer, Chief Merchant, and leaders in Operations and Customer Service. These new hires will further strengthen Ernesta's expertise and elevate its design thought leadership as the company aims to become the design authority in the rug category and meet the growing consumer demand for soft flooring.

The new hires bring extensive experience in their respective fields, which will be vital in ensuring Ernesta delivers a high quality product to its customers. Ernesta is growing quickly in an industry that is projected to reach $120 billion by 2031¹.

"In order to deliver on the massive opportunity that we see in the soft flooring space, we're building a team that combines deep industry and functional experience with strong track records at best-in-class, innovative organizations," said John Foley, CEO of Ernesta. "Rosa, Mariam, Maryam, and Jesse are just such leaders. These folks are out-of-the box thinkers who aren't afraid to challenge the status quo. They are passionate about the design industry and building world-class consumer experiences, which is what we look for in all Ernesta teammates."

Jesse Selnick, Ernesta's new Chief Financial Officer, brings 25 years of financial leadership experience to the company. In his career, Jesse has demonstrated tangible success in driving strategic growth, operational and financing initiatives for companies across diverse industries and all stages of business evolution. Most recently, Jesse was the CFO of Sight Sciences, where he helped transform the business from an R&D start-up to a leader in emerging eyecare technologies that executed the largest medical technology IPO in 2021. Prior to Sight Sciences, Jesse was the CFO of Electric Lightwave, where he helped drive an operational turnaround which culminated in its $1.4 billion sale to the industry consolidator in fiber infrastructure. Jesse also spent nearly 10 years in The Blackstone Group's M&A advisory business. He holds a B.S. in Economics from The Wharton School at The University of Pennsylvania and an M.B.A. from Harvard Business School.

Rosa Glenn, Ernesta's new Chief Merchandising Officer, is a designer turned merchant with a wealth of experience in the residential rug category. After graduating from the Rhode Island School of Design and working at Anthropologie Living, Rosa received her MBA from the MIT Sloan School of Management and went on to work as a senior merchant at West Elm, where she led the rugs team and managed their large assortment of stocked and made to order rugs.

Maryam Amr joins Ernesta as VP of Operations. She has previously worked as General Manager at Path Mental Health and Director of Business Operations at Peloton Interactive. Prior to that, she was a Regional Manager at Amazon and scaled the grocery delivery business with Whole Foods on Prime Now from launch to 6,800 employees. Maryam holds an MBA from the MIT Sloan School of Management, an MEng from Cornell University and a BSE from the University of Michigan.

Ernesta is also thrilled to announce the addition of Mariam Amirkhanashvili to its team as a Customer Success and Inside Sales leader. Mariam comes to Ernesta with a wealth of experience across strategy, operations, and go-to-market. She spent two and a half years at Allbirds during a critical growth phase, where she played key roles in launching dozens of new products. Prior to joining the startup world, Mariam worked as an investment analyst covering the restaurant and retail sector at Suffolk Capital Management. Mariam holds a B.A. in Economics and Political Science from Wellesley College and an MBA from the University of Pennsylvania's Wharton School. With her extensive background in strategy and operations, Mariam will play a key role in helping Ernesta continue to deliver a world-class customer experience.

Ernesta was founded in November 2022 by a team including John Foley, Hisao Kushi, and Yony Feng, the co-founders of Peloton. The company has successfully raised $25 million in a Series A funding round, led by Addition, with participation from True Ventures and other investors. Ernesta aims to expand the custom category of the multibillion-dollar domestic rug market by offering a thoughtfully curated selection of rugs that can be cut to fit exact spaces, for residential buyers. The global carpet and rug market is projected to reach $120 billion by 2031, and Ernesta is well-positioned to capitalize on this growth opportunity with its new team in place.

Ernesta, which can be found at ernesta.com, intends to launch to U.S. consumers later in 2023. The company plans to offer a wide variety of materials and options for custom rugs at an accessible price range, as well as bespoke delivery in certain key markets.

About Ernesta
Ernesta is on a mission to bring gorgeous, design-focused custom rugs to homes and places of gathering through an enjoyable, frictionless, and affordable experience. At the same price as a store-bought standard-sized rug, a custom-cut rug from Ernesta will not only be a better fit, but also a better buying experience. We believe that high-quality custom design shouldn't be out of reach for consumers and aim to address this need in the multi-billion dollar global rug industry.

¹ Source: Global Carpets and Rugs Market 2022 – 2030, Custom Market Insights, July 2022

SOURCE Ernesta