The home design and decor platform, Livspace, has entered the modular kitchen and wardrobe segments. The startup plans to roll out its services in Bengaluru, New Delhi and Mumbai, targeting buyers of new homes. The new modular furniture division will be headed by Gopal Dwivedi. Gopal was the business head at Hettich India, prior to joining Livspace. At Livspace this division was led by Arpit Khandelwal, cofounder of DezignUp, prior to Dwivedi’s appointment.
DesignUp was acquired by Livspace this year. Livspace, acquired two more startups this year, viz: Yo Floor and Dwll.in, making it a total of three in a single year. Earlier this year, Livspace also raised Rs 52 crore from existing investors Helion, Bessemer and Jungle Ventures. Anuj Srivastava, chief executive officer at Livspace, says:
“We will be focusing one-third of our team and a large part of our last round of funding to develop this category. We are partnering with turnkey modular furniture manufacturers and have integrated the ERP of Livspace so that the order is directly published at the manufacturer’s system,”
The modular Kitchen and Wardrobe segment is a very lucrative one, with each order starting at a minimum of Rs 3 lakh. Due to this reason a lot of startups are making sure to mark an entry into this business starting this year. Well known online furniture brands like UrbanLadder and online customised store Stitchwood are examples for this trend. The market size for modular furniture in India is estimated to be around Rs 330 crore.
The company has invested in software used by designers on its platform to customize designs. Srivastava says:
“Working on the modules of manufacturers will speed up the process for the modular category and users can now use this as a separate service,”
Livspace, was launched in December 2014 by Anuj Srivastava, Ramakant Sharma and Shagufta Anurag and provides end-to-end home design and decor service provider and curated marketplace for home owners and designers that lets customers discover thousands of interior designs by color, material and style.