New Delhi, Oct 10 Home interiors and renovation platform Livspace on Monday said it has earmarked $100 million to invest and incubate new offerings and brands in the direct-to-consumer (D2C) market in the home interiors and renovation segment.
With this money, Singapore-based Livspace aims to create multiple home interiors and renovation solutions and D2C offerings which serve homeowners across various segments in its markets across India, South-east Asia and the Middle-East region.
"As we continue to scale across new segments in existing geographies and enter new regional markets, we are looking for successful businesses and like-minded entrepreneurs that help us scale even faster," said Anuj Srivastava, CEO and Co-founder, Livspace.
"In line with this, we will aggressively and methodically pursue a build-or-buy strategy to create the maximum value for the ecosystem and deliver the best experience to our customers and ecosystem partners," he added.
Livspace has deployed part of the allocated capital in acquiring a majority stake in companies such as Qanvast, which connects homeowners and trusted design professionals.
It is looking at investing in content destinations, direct-to-consumer interior brands and D2C private labels. The strategy will be spearheaded by Ankit Shah, Chief Strategy Officer, Livspace.
"The capital and resource allocation strategy will help our business scale faster across markets, grow our margin stack further and create strong defensible moats," Shah said.
Livspace currently has operations in over 45 cities across Southeast Asia, India, and the Middle-east region.
The company said it has witnessed over 100 per cent growth in the last six months and 400 per cent over the last two years.
Livspace has raised around $450 million in capital from some of the top global investors including KKR, Ingka Group Investments (part of largest IKEA retailer Ingka Group), TPG Growth, Goldman Sachs, Kharis Capital, Venturi Partners and others.
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