Online interior design startup Havenly has announced its acquisition of artisan home decor retailer The Citizenry. The financial details of the deal have not been disclosed. This move is part of Havenly’s strategy to build a diverse collection of home brands that cater to a wide range of shoppers. The acquisition of The Citizenry marks the third such move by Havenly in the past two years.
Key Takeaway
Havenly’s acquisition of The Citizenry underscores its commitment to providing a diverse and ethically crafted assortment of home decor products to its customers.
Expanding Home Decor Offerings
Launched in 2014, The Citizenry collaborates with artisans from across the globe to create limited-edition, handcrafted home goods. By integrating The Citizenry into its operations, Havenly aims to broaden its range of furniture, textiles, and home decor products.
Strategic Vision
Havenly CEO Lee Mayer envisions establishing a design-centric ecosystem for the emerging digitally native home consumer. The company has been actively acquiring brands in the home furnishing space to enrich its portfolio. In the previous year, Havenly acquired customizable furniture and upholstery brand Interior Define. In 2022, it added home furnishing brand The Inside to its portfolio.
Enhanced Customer Experience
Mayer emphasized that Havenly customers will now have access to The Citizenry’s range of premium home decor products, which are not only aesthetically pleasing but also carry significant meaning. The Citizenry collaborates with master artisans and heritage manufacturers to bring exquisitely designed, globally-inspired products to the market, all of which are ethically crafted. This acquisition will enable Havenly customers to support these artisans while curating a truly distinctive and meaningful home environment.
Future Outlook
Havenly’s most recent funding round, a $32 million Series C announced in October 2019, brought its total funding raised to $57.8 million. The Citizenry, on the other hand, secured $20 million in Series B funding in June 2021 and opened its first physical store in New York City in 2020. Mayer affirmed that Havenly will continue to adapt its product offerings and portfolio to meet the evolving needs of consumers, particularly digitally native millennials who are increasingly shaping the home design and furnishings market.
Mayer expressed that Havenly sees a significant opportunity to lead the conversation as the home furnishings and design market evolves to cater to this dynamic customer base.
