Chairish today announced it has entered an agreement to acquire Pamono, the European online marketplace for vintage, antique and contemporary furniture, lighting, and accessories, positioning the combined company as the largest global online marketplace for home furnishings.
“The future of the design industry is global, and today marks the beginning of an exciting new chapter for Chairish. The combination of the market leader in the US with the market leader in Europe, allows us to bring the very best home furnishings from around the world to design lovers everywhere. With this unification, Chairish will be even better positioned to support the global design community,” said Gregg Brockway, CEO and co-founder of Chairish.
The deal not only reflects the global nature of the design industry but also underscores the dramatic growth of online sales the home furnishings sector has experienced over the last two years. Chairish projects the global online furniture market to grow to $84.2 billion by 2024.
The deal brings to the Chairish platform 2,000 European dealers and brands with an inventory of 250,000 items and an audience of 2 million shoppers per month. The San Francisco-based firm also pointed to Pamono’s regionalized language and currency capabilities, as well as the strength of its shipping network, as attributes the European marketplace will contribute to the combined company.
In addition to home furnishings categories, Pamono does sell jewelry and timepieces. Brockway noted that, for the time being, each brand will maintain its current business model with Chairish continuing to focus on the home furnishings category.
Although Pamono will continue to operate as a standalone site, Brockway noted Chairish will expand the team based in Europe and integrate both sites’ trade programs.
“Designers are our most important customers, and both Chairish and Pamono offer a specialized experience for trade professionals,” including net pricing up to 30%, trade-only customer support, 48-hour hold requests, extended returns, and a loyalty program with cash-back rewards.
“With the addition of Pamono’s trade community, our trade program will now include 30,000+ verified design professionals worldwide,” said Brockway. “Chairish will share more information on deeper integration between the businesses—and new solutions for the design industry—in the coming months.”
Final closure of the acquisition is subject to customary German tax and regulatory approval.
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