Germany based Westwing Home & Living, a part of the international network of Rocket Internet GmbH has launched its Indian online version e-commerce site heavenandhome.com. Co-founded by young entrepreneurs Tushar Ahluwalia, Nishrit Shrivastva, Sunnyraj Agarwal and Tara Kaushal, Heaven & Home is positioned as a niche online interiors portal that showcases its products along with an online magazine dealing in the same segment.
Rocket Internet GmbH is one of Europe’s biggest Venture Capital funds and the investors of Groupon, Facebook, and the founders of EBay Germany. The exact amount of investment is not known, however according to its co-founder it is one of the biggest one in home and décor space.
Talking to iamwire about the business model of heavenandhome.com, Nishrit Shrivastva said, “Consumers will have to become members of the shopping club to buy products and get exclusive offers on them and sales that go up to 70 per cent discount. At the same time our exclusive online magazine on home and décor segment would also aware consumers about the latest vogue, trends and culture in the segment”
Among the key players, Tara Kaushal is the former editor of BBC Good Homes India while Shrivastva has previously worked with Dell and Pearson as a software developer. Ahluwalia is a third generation Indian settled in Germany with a post grad degree from London Business School. He has worked in investment banking area in Germany. Agrawal is also a London Business School alumnus, who has also worked with private equity firm Leopard Capital.
The firm will be associated with certain designer labels and will add international brands at some point in future. It will target women aged between 25 and 50. In the first few weeks transaction will be limited in metros, afterwards products made available to consumers in tier 2 and tier 3 cities as well. However, there are few other players in the segment in India including Home Ideas, besides others like Fashionandyou.com, 99 labels and other e-com sites that have sub sections for home décor labels.