Disrupting Home Decor
West Elm, Crate & Barrel, and Restoration Hardware watch out. Since founding One Kings Lane in 2008, the home decor e-retailer has raised more than $110 million dollars, grown to more than 6 million users, and employs 300 people. CEO Doug Mack asserts "we're one of the fastest growing e-commerce companies ever." Key investors include Kleiner Perkins Caufield & Byers, First Round Capital, and Greylock Partners.
One Kings Lane is an online marketplace focused solely on home decor. Customers can sign up to become a member and receive daily emails about the latest curated collection of products.
Unlike traditional retail, their "shelves" change every day. One Kings Lane has about 100 merchants who work closely with dealers and designers to find items to include in their curated sales. Mack notes, "Each day, we launch up to 2,000 new products on the site to keep it fresh and interesting."
One Kings Lane's growth rate is fueled by customer loyalty. 75% of purchases are made from repeat shoppers. Mack explains they achieve this by "providing consumers fundamentally better choices on home decor products than what they can find at traditional retail."
Mack is not new to the venture world. Before launching One Kings Lane, he was the CEO and Co-Founder of Scene7 and sold the company to Adobe in 2007.
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