News Update

Home decor unicorn Livspace onsets into business-to-business market

• ByStartupStory     |    December 7, 2022

Unicorn home decor online Livspace’s new service, Livspace For Business, will make its entry into the commercial interior design market. The business-to-business (B2B) offering will function across categories in places like offices, retail, hospitality, and warehousing, among others, and assist brands in experiencing, customizing, and purchasing business solutions. The clients will receive one-stop, technologically advanced, transparent design solutions from it.

In an email response, Saurabh Jain, co-founder and chief executive of Livspace India, said: “Considering our experience in the home interiors and renovation segment, commercial space is a natural progression.

Livspace has completed projects with businesses including WeWork, Decathlon, Toothsi, McDonald’s, and Domino’s as part of a few pilots for the service. For the upcoming six months, it has a deal pipeline for the offering that is close to $10 million.

Investors supporting the startup include KKR, Venturi Partners, and Jungle Ventures, among others. The business raised $180 million in capital earlier this year, headed by KKR. Its valuation in the round was $1.2 billion. Livspace has received almost $450 million in total from investors. In addition, Livspace is placing bets on the expanding commercial real estate industry.

As offices sprout up all over the nation, the commercial/B2B sector has been expanding, according to Sudarshan Choudhary, head of Livspace B2B in India. We think Livspace for Business is well-positioned to create the next generation of commercial spaces given the growing demand for adaptable, user-friendly workplaces. Over the next 24 to 36 months, we plan to develop a business model that will generate an ARR of $100 million.

For the time being, the focus is on expanding and establishing this service in India and creating an operational presence in more than 40 cities where the company is already active. The founders stated, “Based on the feedback, we want to integrate the commercial services in our global operations in the next two years.

Anuj Srivastava and Ramakant Sharma founded Livspace in 2014. It asserts to have sold more than 7.5 million products through its platform and to have provided more than 125,000 rooms. Additionally, it is present in Saudi Arabia, Malaysia, and Singapore.

The company recently set aside $100 million to establish its own “house of brands,” in which it stated it would invest in and incubate brands and content destinations across markets in the home decor, interior, renovation, and ancillary segments. With over 100% growth over the previous six months and 400% growth over the previous two years, the company claims to be profitable in India. It had reported 320 crores in revenue and 255 crores in losses for FY21.

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