Livspace

Last updated

Livspace
Company type Private
IndustryInterior design
Founded2014
Founder
  • Shrikant Sharma
  • Ramakant Sharma
Headquarters
Singapore
,
Singapore
Area served
 Singapore, India and Kingdom of Saudi Arabia
RevenueIncrease2.svg₹1,148 crore (US$140 million) (FY23) [1]
Increase Negative.svg₹−793 crore (US$−99 million)
Website www.livspace.com

Livspace (pronounced as li-v-space), is a home interior and renovation company headquartered in Singapore. It provides interior design and renovation services in Singapore and India. [2] [3] The company was founded in 2014 by Anuj Srivastava and Ramakant Sharma [4] and has raised funding of $450 million. [5]

Contents

History

Livspace was founded in July 2014 by IIT Kanpur alumni Anuj Srivastava, formerly of Google and Ramakant Sharma, formerly of Myntra. In December 2015, the company introduced its private label of modular kitchens and wardrobes and rolled out services in Bengaluru, New Delhi and Mumbai. [6] In 2016, Livspace launched its home design automation platform for interior designers and announced its design partner community program. [7] The startup later opened four offline design stores with virtual reality setups [8] in Bengaluru, Delhi, Gurugram and Mumbai. [9] [10] In 2018, Livspace announced expansion of its services to Hyderabad. [11]

Operations

Singapore

Livspace launched its Singapore operations in 30 October 2019. [12] [13] and partnered with IKEA Singapore to offer renovation services to their customers and set up pop-up stores in IKEA Tampines and IKEA Alexandra. [14] [15] In 2021, Livspace opened a joint renovation studio with IKEA in Jurong Point. [16]

India

Livspace launched its operations in India in 2014. The India head-quarter is situated in Bangalore. [17] It has two services for the customers, namely Livspace Select (for modular products) and Livspace Vesta (full home interiors). [18] [19]

It has 22 Experience Centres across the country including India’s largest experience centre in Marathahalli, Bangalore spanning 23,000 sq ft. [20] [21] In 2022 Livspace expanded its operation to cover commercial spaces such as offices, retail, hospitality and warehousing among others. [22]

Expansion

In December 2015, the company introduced its private label of modular kitchens and wardrobes and rolled out services in Bengaluru, New Delhi, and Mumbai. [23] In 2016, Livspace launched its home design automation platform for interior designers and announced its design partner community program. [24]

In 2018, Livspace announced expansion of its services to Hyderabad along with an Experience Centre in the city. [25]  In November 2018, Livspace launched operations in Chennai and Pune markets. [26] In 2019, as part of APAC expansions, Livspace made its entry into the Singapore market after a six month pilot. [27] In January 2021, Livspace launched experience centres in Bangalore, Pune and Chennai. [28]

Acquisitions

In March 2015, Livspace acquired DezignUp, a design community and marketplace for an undisclosed amount. [29] Later in the same year, the brand announced its acquisition of Dwll.in, an online network of designers and home decor stores. [30] In September 2015, Livspace acquired YoFloor, a mobile and virtual reality platform for home design. [31]

Funding

Awards

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References

  1. ↑ "Livspace posts Rs 1,148 Cr revenue in FY23". Entrackr. 21 September 2023.
  2. ↑ "Home interior platform Livspace plans to invest US$30m to grow Singapore business, Garage - THE BUSINESS TIMES". www.businesstimes.com.sg. 30 October 2019. Retrieved 1 August 2021.
  3. ↑ Bureau, BW Online. "Home Design Platform Livspace To Invest $30 M In Singapore". BW Businessworld. Retrieved 1 August 2021.
  4. ↑ Kanth, K. Rajani (17 August 2015). "Dream decor for dream homes". Business Standard India. Retrieved 1 August 2021.
  5. ↑ "Livspace turns unicorn with $180 million funding led by KKR". Fortune. 8 February 2022. Retrieved 14 April 2023.
  6. ↑ Ganguly, Payal (28 December 2015). "Livspace enters modular kitchen and wardrobe segments, to roll out services in Bengaluru, Delhi, Mumbai". The Economic Times. Retrieved 22 August 2018.
  7. ↑ Bureau, BW Online. "Livspace Announces Plan to Create 30 000 Design Entrepreneurs in India". BW Disrupt. Retrieved 22 August 2018.
  8. ↑ "Small firms snap up VR opportunity to assist home-owners in designing, selection". @businessline. Retrieved 29 August 2018.
  9. ↑ "Livespace opens offline design centres, earmarks Rs 25 crore for more centres - Times of India". The Times of India. Retrieved 29 August 2018.
  10. ↑ "Small firms snap up VR opportunity to assist home-owners in designing, selection". @businessline. Retrieved 29 August 2018.
  11. ↑ "Livspace forays into Hyderabad; earmarks Rs 20 cr for expansion". @businessline. Retrieved 29 August 2018.
  12. ↑ "Livspace expands to Singapore, to invest $30 mn - Times of India". The Times of India. PTI. 30 October 2019. Retrieved 1 August 2021.
  13. ↑ "Home interiors startup Livspace enters Singapore, aims for a $500 million business in 2.5 years". Business Insider. Retrieved 1 August 2021.
  14. ↑ "Home interiors startup Livspace enters Singapore, aims for a $500 million business in 2.5 years". Business Insider. Retrieved 1 August 2021.
  15. ↑ hermes (27 September 2019). "Ikea rings up $341m in full-year revenue here". The Straits Times. Retrieved 1 August 2021.
  16. ↑ "First look: IKEA S'pore launches interior design studio in Jurong Point with move-in ready packages from S$9,900". mothership.sg. Retrieved 1 August 2021.
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  19. ↑ Livspace. "The finest choice in modular solutions". Livspace India. Retrieved 22 August 2021.
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