Online retail has surged since the pandemic broke out last March, and the global online furniture market is projected to grow to $84.2 billion as customers continue rethinking their living spaces while working from home. Design marketplaces like Chairish are poised for even further growth—the virtual purveyor of high-end vintage furnishings recently announced it would acquire like-minded European marketplace Pamono, bringing an inventory of more than 250,000 vintage and antique furnishings and art sourced from 2,000 professional galleries to Chairish’s already massive inventory of 580,000 products from 10,000 sellers.
Terms of the deal haven’t yet been disclosed, but Chairish co-founder Gregg Brockway says that more insight into business integrations will be announced in the coming months. “Pamono brings into the marketplace a lot of inventory to help round out the Chairish offering,” Brockway said in a recent interview. ”It’s very complementary to what we have on the site, which is part of why we’re excited. What we’ve come to appreciate is that we share a vision for how this is becoming a global market.” In terms of what’s next, Brockway says “we’re going to evolve by listening to the community,” and cites Pamono’s grasp on worldwide shipping as a potential perk.
Chairish intended to scale even before the pandemic ushered in triple-digit growth and a $33 million Series B round in September. It acquired the online marketing platform Dering Hall in 2019, incorporating it under the Chairish name along with the antiques marketplace Decaso the following year. When that acquisition closed, Chairish became the largest online platform for high-end home furnishings in the United States.
Chairish is by no means the only high-end online marketplace to experience propitious growth during otherwise turbulent times for business. 1stdibs filed for a generally well-received IPO this spring, valuing the company at nearly $750 million. Other sectors are betting big on the staying power of performance of digital commerce too, from global mega-gallery gallery David Zwirner’s recent launch of art discovery portal Platform to Etsy’s $1.6 billion acquisition of fashion marketplace Depop. And given Shopify’s reported second-quarter revenue of $1.12 billion, which exceeded expectations and marked the first time its quarterly revenue shot above $1 billion, the trend towards e-commerce shows no signs of slowing down.