Helion backed home design and decor start-up LivSpace has announced the acquisition of Bengaluru-based Dwll.in to lead the space. Founded in 2013 by Parikshat Hemrajani and Pankaj Poddar, Dwll.in, is an Indian curated online network of interior designers. This is Livspace’s second acquisition in less than a month. Towards the end of March, the company had bought DezignUp, an online design community and marketplace. However, the amount spent on the acquisition had not been made public.
As part of the deal, the Co-founders of Dwll.in and the core team will join the Livspace family. With this acquisition, Livspace will start building the go-to-market strategy for the western region, in addition to expanding across other metros and Tier 1 cities. LivSpace is currently projecting a revenue run rate of more than $10 million in months to come.
LivSpace is an online shopping destination for home decor and furnishings. Also, it offers facility to hire designers on its platform. Further, the users can customize the products based on their requirements. It delivers in Chennai, Hyderabad, Delhi, Mumbai & Bangalore.
As per Technopak estimates, online home decor market in India will touch $20 billion by 2015. Out of this $20 billion market 40 % – 50% is furniture and rest are pure home decor items such as cutlery, kitchen items, fancy lamps etc.
Other players in the online furniture space include Urban Ladder, FabFurnish, HomeLane, CustomFurnish, Pepperfry etc. Online marketplaces like Snapdeal, Jabong, Homeshop18 etc. also have home decor and furnishing as one of their verticals. With the space taking a whole new turn with more new niche companies entering the segment with non-conventional offerings, is it possible for them to take over the current leaders with their specialized services?