Livspace, Asia’s omnichannel home interiors, and renovation platform announced an allocation of US$100 mn to strategically invest in and incubate new offerings, D2C private labels, brand extensions, and content destinations across its current geographical markets in the home interiors, renovation, and related home improvement segments.
This capital allocation is in line with Livspace’s strategy to create multiple home interiors and renovation solutions, and D2C offerings which serve homeowners across various segments in its markets across India, Southeast Asia, and the Middle East and are built on its pioneering home interiors and renovation platform.
Thus far, Livspace has deployed part of the allocated capital in acquiring a majority stake in companies such as Qanvast - Southeast Asia’s top content destination and mobile platform for home improvement - which connects homeowners and trusted design professionals.
The strategic investment creates a common vision for both companies to transform the home interiors and renovation space while creating exciting new opportunities for design and architecture professionals.
Livspace is looking at investing in content destinations, direct-to-consumer interior brands, and D2C private labels which will help the company consolidate the market and create value across the ecosystem which includes homeowners, design industry professionals, brands, and vendor partners.
The strategic partnerships will create new growth opportunities and synergies given the scale of Livspace’s supply chain, omni-channel distribution channels across markets, and the no. 1 brand position in the industry.
Srivastava, CEO, and Co-founder, Livspace said, “At Livspace, we have been and will always be focused on our goal of creating a sustainable business which is an industry pioneer and built on the values of creating a lasting institution. As we continue to scale across new segments in existing geographies and enter new regional markets, we are looking for successful businesses and like-minded entrepreneurs that help us scale even faster. We are looking at ideas, technologies, and world-class entrepreneurial teams that bring in additional functional expertise to drive better outcomes for all our stakeholders. In line with this, we will aggressively and methodically pursue a build-or-buy strategy to create the maximum value for the ecosystem, and deliver the best experience to our customers and ecosystem partners in our journey of becoming the go-to place for all things home.”
The strategy will be spearheaded by Ankit Shah, Chief Strategy Officer, Livspace. Further elaborating on the development, Ankit said, “Today’s macro-economic environment combined with Livspace’s operational excellence and balance sheet strength is driving innovation in the company at every level. This has resulted in exploring new pathways – both organic and inorganic - that will drive both efficient scale and path-to-profitability. The capital and resource allocation strategy will help our business scale faster across markets, grow our margin stack further and create strong defensible moats.”