Wayfair
(NYSE:W), one of the world’s largest online destinations for home
furnishings and décor, today executed an acquisition agreement to sell
its Australian-based business to Temple Webster, Australia’s #1
members-only online destination for the home. The www.wayfair.com.au
website will continue to operate under the Wayfair name for 45 days and
then will be re-introduced under a new brand name from Temple Webster.
Terms of the transaction were not disclosed.
“As we continue to rapidly scale our business in North America and
Europe, we are strategically focusing our resources on those two very
large markets,” said Niraj Shah, CEO and co-founder of Wayfair. “We are
confident that the transition of our Australian business will serve our
existing Australian-based customers and employees well. Temple Webster
shares our commitment to technological innovation and outstanding
customer experience in home retail and has a great track record in the
Australian marketplace.”
“The acquisition of Wayfair.com.au is a natural next step in the
continued rapid growth of Temple Webster. It’s an exciting opportunity
for the progression of both businesses in the Australian furniture and
homewares market,” said Brian Shanahan, CEO and co-founder of Temple
Webster. “The combination of Temple Webster’s strong brand identity
and unique ability to inspire its loyal member-base, through beautifully
curated and presented products, and high quality editorial along-side
Wayfair’s broad product offering, world-class technology platforms and
exceptional speed of delivery, will provide an unparalleled online
shopping experience for every Australian.
Notes to editors:
About Wayfair
Wayfair Inc. (NYSE:W) offers an extensive
selection of home furnishings and décor across all styles and price
points. The Wayfair family of brands includes:
Wayfair.com, an online destination for all things home
Joss Main, an online flash sales site offering inspiring home design
daily
AllModern, a go-to online source for modern design
Birch Lane, a collection of classic furnishings and timeless home décor
DwellStudio, a design house for fashion-forward modern furnishings
Wayfair is headquartered in Boston, Massachusetts, with additional
locations in New York, Ogden, Utah, Hebron, Kentucky, Galway, Ireland,
London and Berlin.
About Temple Webster
Temple Webster (www.templeandwebster.com.au)
is Australia’s most beautiful shopping experience for the home. We’re
Australia’s #1 online retailer of furniture and homewares. With over 1.1
million members. Temple Webster is ranked #1 online homewares retailer
by PowerRetailer, was ranked #1 retailer in the 2014 BRW Fast Starters
Awards and is the fastest growing “Deloitte Tech Fast 50” internet
retailer since the Deloitte Tech Fast 50 Awards were launched in 2001.
Temple Webster has also won SmartCompany’s Best Blog two years in a
row (2013 2014). Our mission is to inspire people to live more
beautifully by helping them discover and buy beautifully priced items
for the home, presented in an informative and entertaining shopping
experience.
Temple Webster has a head office based in Sydney, Australia.
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