Online home furnishings retailer Wayfair today announced it has acquired DwellStudio. The deal will accelerate Wayfair's launch of proprietary product lines and lifestyle brands in 2013 while addressing new market segments.
DwellStudio will operate as a standalone brand joining Joss & Main, which received a $36 million capital infusion in December, and AllModern.
"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.
