1stdibs sets share price, Etsy acquires Depop and more
From camping to van living, the nomadic lifestyle gained popularity during the work-from-home boom of the pandemic. Now, real estate developers and rental sites are offering more comfortable options for those who want to travel. Meanwhile, the domestic industry continues. Stay up to date with our weekly roundup of headlines, launches and events, recommended reading and more.
1stDibs has announced the terms of its IPO, with the intention of setting its share price between $ 18 and $ 21 per share. By offering 5.75 million shares, the online luxury goods market aims to raise around $ 112 million, which could bring the company’s market value to just under $ 800 million. There is no word on a date for the official listing yet, although the announcement of 1stDibs’ IPO came less than a month ago, the 20-year-old resale giant s ‘building on years of steady growth and benefiting from a pandemic-boom in commerce.
Holly Hunt acquired the Conrad Imports brand of hand-woven window coverings. Founded in 1956, the company offers more than 120 weaving patterns made from renewable fibers in Southeast Asia and finished in its workshop in San Francisco. President Conrad Buck Irwin will continue to lead its staff of 45 following the acquisition.
Etsy to acquire the Fashion Depop marketplace in a $ 1.6 billion cash deal expected to close in the third quarter, The New York Times reports. Founded in 2011, the vintage resale site has seen huge success with Gen Z consumers (90 percent of its 30 million users are under 26) while generating a new cohort of style influencers who sell their products on the site. Additionally, the acquisition aligns with growing investor interest in second-hand clothing sites – Poshmark and ThredUp both went public earlier this year, and the largest online clothing resale market in ‘Europe Vinted has completed a major financing round to reach a value of $ 4.26 billion.
Demand continues to rise for home renovations and interior updates, according to the Houzz Renovation Barometer, fueling a growing shortage of design and construction professionals in a trend that is expected to continue at least until the end of the year. Based on a quarterly online survey sent to more than 700 U.S. companies on the platform, the most recent metrics include the highest levels of new project requests for architectural and design professionals. since Houzz started reporting in 2014, as well as the second highest on record for construction professionals. . Most designers also trust the industry’s continued health – 65% of interior designers believe business will improve in 2021.
Mattresses are the latest addition to the list of home industry products for which demand exceeds supply, Furniture today reports. In response to factors such as a tight job market, an ongoing scarcity of foam, and growing backlogs, retailers are finding creative ways to minimize price hikes without sacrificing quality by implementing methods such as sourcing of alternative materials (in some cases swapping foam for a padded polyester material) and diversification of suppliers.
Unlikely combinations of retail and delivery services are emerging to meet the continued demand for interior design. Through a partnership with Instacart, The Container Store now offers same day delivery for its assortment of kitchen, closet, office and storage products. Meanwhile, Bed, Bath and Beyond has partnered with DoorDash Drive (the food delivery company’s white-label distribution platform) to expand its own same-day delivery options to an additional 3,000 postcodes. Across the country, Home accents today reports.
The online used furniture marketplace AptDeco has announced the expansion of its services to the West Coast with a launch in the San Francisco Bay Area. Founded in 2014, the platform allows consumers to buy used furniture brands or sell their own used pieces with – in the years since, it has raised $ 10 million to date.
Courtesy of CW Stockwell
Launches and collaborations
In collaboration with CW Stockwell, The Inside launched a limited edition collection featuring the Los Angeles wallpaper brand’s designs on five different fabrics in new colourways. The collaboration includes the iconic Martinique motif, available for the first time on furniture and home decor items.
West Elm and REI have teamed up for the summer 2021 collection, marking the second installment of the two brands’ retail partnership. The 10-piece collection includes items of outdoor furniture such as dining tables, rope chairs, and day shelters, as well as smaller pieces such as water bottles, outdoor pillows and chairs. folding camping stools.
Sleep tech company Beautyrest brought in a fashion designer Christian Siriano for a mattress designed specifically for couples, especially honeymooners. The Beautyrest mattress by Sirano is thematically inspired by “a black tie affair” and is available in king and queen sizes online at the retailer’s website.
Courtesy of Brooklinen
Brooklinen has partnered with UrbanStems to celebrate the launch of the luxury bedding brand’s first floral print, Wildflower. Designed in collaboration with an artist based in Hudson Valley Emilie Isabelle, the pattern hits the market in tandem with UrbanStems Wildest Dreams’ first Brooklinen-inspired bouquet, featuring roses, delphinium, scabiosas and more.
Jonathan adler and interior design brand Yellowpop have teamed up to create a limited edition collection of LED neon signs. Available in eight different designs, the new line is inspired by colorful pop art imagery and can be found online at the Yellowpop site.
Fisher Weisman is now represented by Holland & Sherry’s Washington DC showroom, marking the furniture brand’s first representation in the DC metro area.
After 93 years in business, the factory that produced “America’s Wonderful Carpet” has closed. Karastan rugs dominated the interiors of middle-class American homes for most of the 20th century. Known for replicating the design of imported rugs from Asia and the Middle East, machine-made products were marketed as “oriental” and sold at an affordable price. The New York Times’ Andrea Richards traces the history of the product, as well as its impact on the small town where it was produced. “This rug can hold so many paradoxes – distant and domestic, machine-made and handcrafted, memory and history – is indeed a wonder,” writes Richards.
The bigger they are, the harder they fall, and the NFT (non-fungible token) market has taken a major plunge in recent weeks, Area reports. Single-day sales peaked at $ 102 million on May 3, but have since plunged nearly 90% to $ 19.4 million. The drop sparked speculation as to whether the bubble burst.
The Center Pompidou in Paris, a bastion of art and culture, has expanded its global reach in recent years with additional locations in cities like Malaga, Brussels, Shanghai and soon, Jersey City, NJ The new outpost will be the museum’s first North American branch, and is slated to open in 2024 as the institution’s original Paris site closes for four years due to renovations. “Our idea is to be confronted with what is very different”, President Pompidou Serge Lasvignes Told The New York Times. “For us, it’s a way of learning, of learning new circumstances, a new way of presenting art, a new way of presenting exhibitions.
MM Company announced the 2021 publisher winners of the MM International Creative Award, honoring the most promising individuals and brands in the categories of fashion design, product design and interior design. For the full list of winners, click here.
The Dallas Market Center has announced its 2021 Light Star winners, a cohort of top sellers from leading light retailers in North America. Winners will receive paid airline ticket, hotel accommodation and access to the annual Lightovation to be held June 23-26, and are chosen from a pool of applicants who have not yet been able to attend. at the event. For the full list of laureates or to submit a nomination for the 2022 awards, click on here.
Call for applications
The Digital Textile Printing Conference is now accepting presentation topics for the December 2021 event, which will focus on a variety of solution-based topics such as global market conditions and economic forecasts, emerging business models , digital textile workflows and more. For full specifications and information on how to submit a proposal, click here.
Home page image: The collection of LED neon signs created by Jonathan Adler and Yellowpop | Courtesy of Yellowpop