Decathlon, Domino’s, McDonald’s, WeWork, and more.
Home decor tech unicorn, Livspace has announced its foray into the business-to-business (B2B) segment with the launch of Livspace For Business. With this move, the Bengaluru-based company known for designing homes is venturing into the commercial interiors business space as well as aims to create a “highly efficient digital supply chain” for the B2B sector.
Commenting on this move, Saurabh Jain, co-founder and CEO of Livspace said that they plan to leverage the post COVID-19 trend of returning to offices. “Leveraging our unique technology platform and pan-India presence, this segment will help brands experience, personalise and purchase commercial solutions from an internationally trusted brand,” he said.
Jain also added that they are building a business model which will reach an annual recurring revenue of $100 million over the next 24-36 months. The main verticals the B2B business will be operating across include offices, retail, hospitality, warehousing, among others. It has already executed certain pilot projects for the likes of Decathlon, Domino’s, McDonald’s, WeWork, and more.
Sudarshan Choudhary, Head of Livspace B2B said that as per reports, the commercial real estate market is set to witness double digit growth in the coming years. “With rising demand for flexible, intuitive spaces, Livspace for Business is poised to deliver the next generation of commercial spaces,” he said.
The online interior decor company was founded in 2014 by Ramakant Sharma and Anuj Srivastava. The company claims that it has witnessed over 100 per cent growth in the last six months. Moreover, it also claims to be a market leader with close to 70 per cent share in the organised sector. According to data shared by Tracxn, Livspace has raised $517 million and is backed by prominent investors such as Goldman Sachs, Bessemer Venture Partners, IKEA, Jungle Ventures, and a few more. Livspace achieved the unicorn status this year in February when it raised $180 million. Courtesy: www.businesstoday.in