These days there are various e-commerce starting up anywhere in the world and funding are pouring on for those seen to be showing some potential. In Europe, the demand for home wear and furniture is unwavering that a new e-commerce startup called Lovethesign was born. The company is founded in Italy and it focuses on home designs.
Series A funds were gathered by the company and worth more than $4 million. The funding leader was the United Ventures together with various participants from anonymous private investors, all of which are members of the fashion and design sector in Italy.
What is more surprising is that Lovethesign decided to not only use the capital for their launch in Europe but the company wishes to follow up the launch by opening in the U.S. as well. Since there are many startups who are venturing into the design industry, Lovethesign considers a number of them competitors such as monoqi and Madeindesign. Not to mention these competitors span all e-commerce businesses that are into general furniture design such as Wayfare, which is located in Boston and is known more publicly.
Lovethesign was founded by Laura Angius, Vincenzo Cannata and Simone Panfilo in the last quarter of 2012. The founders were also known to working with Privalia, e-commerce giant, before in management positions. The company focuses in designing furniture and home accessories that are Italian inspired. All of their products can be bought through a fixed list of selection and they also hold flash sales every week.
The catalogue for the company has around 15,000 products and there are more than 1,000 partners such as Seletti Wears Toiletpaper, Alessi, MdfItalia, Casamania, Flos, Magis, Artemide and Foscarini. The company is said to have serviced more than 1 million customers and currently, 60,000 of the products were already shipped. The company is proud of their month-on-month growth which is at 20%.
According to Simone Panfilo, the CEO as well as one of the founders, the startup has met challenges and one of them is bridging the gap between what the designers produce and what the clients are looking for when it comes to authentic Italian home designs.