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High-end marketplace Chairish has acquired European online marketplace Pamono to create a combined site that will offer more than 830,000 products.
SAN FRANCISCO — Online home furnishings marketplace Chairish reported 22% growth in the third quarter of 2021 as consumers began turning attention toward vintage and resale pieces as a way to get around retail supply chain issues.
For fiscal year 2021, Chairish is projecting combined pro forma revenue growth of more than 35%, led by more than 20% growth in average order value.
In the quarter, Chairish’s active buyers reached 95,000, which marked a 27% year-over-year increase, and more than 860,000 vintage, antique, contemporary and made-to-order products offered by some 12,000 worldwide sellers.
Other benchmarks from the quarter included a community of more than 38,000 verified design professionals, an international audience that accounts for some 5 million monthly visits and the offset of 100% of estimated carbon emissions from U.S. shipping.
“We saw a continued lift in the vintage marketplace this quarter, accelerated by online shopping and supply chain driven slowness on new goods,” said Chairish co-founder and CEO Gregg Brockway. “We look forward to building upon this growth as demand for resale home furnishings continues. Chairish is best positioned to empower high-end sellers and affluent design lovers to connect online.”
Chairish’s first-ever Resale Report on the state of re-commerce in the home furnishings industry, published in September, detailed the rise of resale and re-commerce. The report found that the resale home furnishings category is projected to grow by 54% over the next five years, around 3.5 times faster than traditional retail with nearly half of millennials reporting that they have resold pieces of furniture.
The third quarter announcement follows Chairish’s acquisition this summer of Pamono, European online marketplace for vintage and antique furniture and art, a move that enabled Chairish to expand its footprint beyond the U.S. and allowed both companies’ sellers to reach a global market.
Thomas Lester is Retail Editor for Furniture Today and Digital/Managing Editor for Home Accents Today. A graduate of Emory & Henry College’s Mass Communications program, Lester spent a dozen years working for newspapers in Virginia and North Carolina covering an array of subjects, ranging from community news, government, education, ACC sports, professional baseball and more before joining Home Accents Today in 2013. Reach out to me with your story ideas, tips and more at [email protected].
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