Livspace invests Rs70Cr on platform, aims USD 100M annual revenue run rate in 15 months
Livspace, an online home interiors and renovation platform announced that it will invest Rs. 70 crore in its global designer partnership initiative, across different segments, including on-boarding and certifying freelance designers and studios, engagement programs, infrastructure and expansion across top metros to grow its network.
With 10,000 design partner applications received since the inception of the program, and an average order value of Rs 12 lakhs per order, it expects to hit USD 100 million annualised revenue run rate in the next 15 months.
Within a year of its launch, the platform has seen an overwhelming 10,000 applications from design partners across the country, and the latest investment is aimed at bolstering the platform and organising the home design industry in India.
Design partners get access to Livspace's proprietary design platform, Canvas, which lets them design better and faster all in one place - from business leads, ability to create designs in 2D, 3D and VR, tens of thousands of products and service SKUs, to project management, and execution. Livspace curates designers based on their skills, forte, experience, location, etc. in a bid to ensure a uniform and high-quality consumer experience.
"Our vision is to be the largest, most innovative interior design platform and we're deeply inspired by the overwhelming support coming in from our design partners. It's heartwarming to see freelance designers and small studios utilize the tools and services we have created and watch their productivity increase manifold. By 2022, we want to design one out of every 10 homes in Indian metros and our design partner network will be our most valuable asset in that journey," said Anuj Srivastava, CEO of Livspace.
The Livspace design partner community is emerging as a vibrant and diverse group of design professionals, from stay-at-home moms and early graduates exploring entrepreneurship to seasoned design practitioners and studios, coming together to revolutionize home design. Together, these partners contribute to 80 percent revenue at Livspace.
Livspace recently launched four flagship Design Centers in Bangalore, Delhi, Gurgaon and Mumbai. These centers allow customers to get expert consultation, experience interiors, select materials, visualize their home design in VR, and place an order, all in one place. A sum of Rs. 25 crores will be invested through 2018 to further grow the footprint through smaller-format design centers and experience apartments.
-ANI
