Since its launch last week, Dering Hall has entered into a strategic partnership with Hearst Magazines whereby shelter titles ELLE DECOR, House Beautiful, and Veranda, each of which will sell designer products featured in the magazine via Dering Hall’s Featured Sales section. The partnership also includes a minority investment and an equity position by Hearst in Dering Hall. The magazines will receive an undisclosed commission from each sale, which will serve as an additional revenue channel for the magazines beyond print and online advertising.
"Dering Hall will give our readers access to the products of the world's leading designers; making it possible to bring the furnishings featured in our editorial pages to a marketplace for the first time. The relationship dovetails with our efforts to expand our ecommerce capabilities and develop additional revenue streams for our brands, two key focuses for Hearst," said Kim Lau, vice president of business development and partner relations at Hearst Magazines.
Being proactive in developing new ways to bring value to our audiences and new revenue streams to Hearst Magazines' brands is a top priority, according to David Carey, Hearst Magazines president. "When Dering Hall first shared their vision we were intrigued by their innovative approach to the design marketplace. Each month, our shelter magazines feature gorgeous photography filled with beautiful furnishings that are largely custom and thus out of reach to our readers. Dering Hall brings those products to an online marketplace providing access to our readers for the first time. We are excited to be able to participate in this venture from the beginning."
“At Dering Hall we are passionate about design and broadening the audience for the best the industry has to offer. Our mission is to assemble a community of the best designers and product creators who share a common goal of bringing their work to a discerning clientele and who together gain greater visibility and value,” said co-founder and entrepreneur Peter Sallick.
“It’s an entirely new approach to furnishing a home—and one that makes hunting for that perfect bespoke sideboard a dynamic and enjoyable experience,” said co-founder and interior designer Steven Gambrel.
"The whole idea is commerce but we're also storytelling and marketing," said Director of Designer Relations Stacey McArdle. "We're giving designers a chance to tell their own story through multiple dimensions. They will have five pages by which to promote their brand including product listings, the designer’s portfolio, event listings and announcements, press links, and a robust 'about me' section. At the same time, we're giving consumers the idea that there's someone behind the sofa, an idea and story to tell beind the headboard. It's more than a database of product—it's a virtual showroom. They control what they present and how; we're not curating their pieces."
At launch, Dering Hall has nearly 100 storefronts from interior designers, architects, artisans, and design dealers from the U.S. and the U.K., with the goal of further global expansion.