Gilt Groupe expands home via acquisition of high-end home source Decorati
March 24, 2011,
New York - As part of its ongoing strategy to expand and broaden its home business, online membership retailer Gilt Groupe has acquired upscale interior home décor site Decorati.
The terms of the deal were not disclosed.
For consumers, Decorati offers a vast inspirational library of product images, along with the ability to connect with design professionals and research products from over 650 trade-only manufacturers.
Gilt Groupe said it plans to unveil its new home offering later this year, which will be a mixture of full-price merchandise, one-of-a-kind items and antiques, daily flash sales, community and social tools, and will include a channel specifically for the designer.
The company added its Gilt Home segment "has built a passionate customer base with a curated selection of home products and services at insider prices" offered over a span of 30 sales per week an encompassing more than 400 brands, including Baker, Kravet, Jonathan Adler, Stark, Lignet Roset, Mitchell Gold + Bob Williams, Frette, and Soicher Marin.
"The design community will be a key component of our expanded home business," said Kevin Ryan, founder and ceo of Gilt Groupe. "Decorati has done a fantastic job establishing a venue for high-end designers, knowledgeable consumers, and trade-only brands. We are excited to combine those assets as we expand Gilt's home business."
Added Shane Reilly, Decorati's founder and ceo: "My vision for Decorati has always been to create a website to connect consumers with designers and provide broader access to the best interior design products and inspiration. Marrying Decorati with Gilt's shopping platform and vision for an expanded Home business will allow for an even stronger offering for our members."