Members-only retail website, Temple & Webster, has taken over the Australian arm of online business Wayfair.
Wayfair is one of the world’s largest online destinations for home furnishings and décor. The www.wayfair.com.au website will continue to operate under the Wayfair name for 45 days (from 31 July) and will then be re-introduced under a new brand name from Temple & Webster.
The acquisition will see the combined businesses now three times larger than the closest online retailer and twice as big as the largest multi-channel retailer.
Temple & Webster CEO and co-founder, Brian Shanahan, explains that this acquisition is the next natural step to grow the business, which has gained more than 1.1 million members since launching in 2011.
“It’s an exciting opportunity for the progression of both businesses in the Australian furniture and homewares market,” he says. “The combination of Temple & Webster’s strong brand identity and unique ability to inspire its loyal memberbase, through beautifully curated and presented products, and high quality editorial alongside Wayfair’s broad product offering, worldclass technology platforms and exceptional speed of delivery, will provide an unparalleled online shopping experience for every Australian.”
According to Niraj Shah, CEO and co-founder of Wayfair, the sale comes as Wayfair is refocusing its resources on North America and Europe.
“We are confident that the transition of our Australian business will serve our existing Australian based customers and employees well,” he says. “Temple & Webster shares our commitment to technological innovation and outstanding customer experience in home retail and has a great track record in the Australian marketplace.”
The Wayfair family of brands currently consists of Wayfair.com, an online destination for all things home; Joss & Main, an online flash sales site offering inspiring home design daily; AllModern, a go-to online source for modern design; Birch Lane, a collection of classic furnishings and timeless home décor; and DwellStudio, a design house for fashion-forward modern furnishings.
By Marion Gerritsen
