Online retailing has jumped since the start of the pandemic in March, and the global online furniture market is expected to reach $ 84.2 billion as customers continue to rethink their living spaces while working from home. Design markets like Chairish are poised for even greater growth – the virtual premium vintage furniture supplier recently announced that it will acquire the like-minded European market Pamono, bringing an inventory of over 250 000 vintage and antique pieces of furniture and works of art from 2000 professional galleries. to Chairish’s already massive inventory of 580,000 products from 10,000 vendors.
Terms of the deal have yet to be disclosed, but Chairish co-founder Gregg Brockway said more information on business integrations will be announced in the coming months. “Pamono brings lots of inventory to market to help complete the Chairish offering”, Brockway noted in a recent interview. “It’s very complementary to what we have on the site, which is part of why we’re excited. What we have come to appreciate is that we share a vision of how this is becoming a global market. As for the sequel, Brockway says “we will evolve by listening to the community” and cites Pamono’s understanding of worldwide shipping as a potential benefit.
Chairish intended to evolve even before the pandemic marked the start of triple-digit growth and a $ 33 million Series B round in September. He acquired the online marketing platform Dering Hall in 2019, incorporating it as Chairish with the Decaso antique market the following year. Upon closing of this acquisition, Chairish has become the largest online premium furniture platform in the United States.
Chairish is by no means the only high-end online marketplace experiencing favorable growth during times of business turmoil. 1stdibs filed a generally well-received IPO application this spring, valuing the company at nearly $ 750 million. Other sectors are also focusing on the sustainability of digital commerce performance, since the recent launch of the art discovery portal by the global gallery of mega-galleries David Zwirner. Platform to Etsy’s $ 1.6 billion acquisition from the fashion market Depop. And given the revenue reported by Shopify in the second quarter of $ 1.12 billion, which exceeded expectations and marked the first time its quarterly revenue exceeded $ 1 billion, the trend towards e-commerce shows no signs of slowing down.