Now that the world did not come to an end afterall, Russians started eagerly decorating and furnishing their living environment. Online furniture retailing indeed seems to be a philosopher’s stone, the companies founded just recently welcome investment after investment, the market is showing a steady growth.
Online furniture retailer Mebelrama received USD 10 mln from Rocket Internet. And it is not the first time that the German VC firm/incubator invests in Mebelrama; in 2011 the company has received investment worth of USD 6.4 mln. The company plans to expand its range by establishing a regional distribution network outside of Moscow and develop further the website from this new investment. Mebelrama aims to get a hold on a fair bit of 10% in the Russian furniture market where its primary competitors are Enter and HomeMe. The latter secured USD 5 mln from Mangrove Capital Partners, AddVenture and ABRT last May.
While Mebelrama targeting the buyers who opt for reasonable prices , a brand new Russian online retailer operating in the home decor and furniture market has just launched its site - The Furnish. The site caters to a relatively under-served segment – premium shoppers. Investment has been put up by the co-founders to the tune of USD 1 mln. One co-founder – Maria Levina – has a background in PE, consulting and e-commerce; the other wishes to remain anonymous at this point, but has been described as “a savvy business person.” Further external funding is still an option.
Mebelrama funded in September 2011, live since November 2011, an online furniture and home decor shop. Mebelrama offers a variety of leading and new brands on a relatively inexpensive price and values customer care and distribution of furniture the highest.
The Furnish (www.thefurnish.ru)
The Furnish will be Russia’s first online furniture and home decor retail portal focusing on the premium market. Offering a range of exclusive styles such as “American Bourgeoisie”, ”Vintage”, “Country” and “Eco-Style”, the company will initially target the Moscow market, as do more online retailers, but may start servicing other large Russian cities like St. Petersburg and Nizhny Novogord, among others, as early as 2013 itself.