Wayfair makes 1st major acquisition, buying NY retailer DwellStudio
Boston-based home goods e-tailerWayfair.com said Friday it has made its first major acquisition, buying New York City-based DwellStudio as part of a plan to launch proprietary product lines this year.
Terms of the acquisition weren’t disclosed.
DwellStudio, a catalog and e-commerce lifestyle retailer founded in 1999, is known for its modern home furnishings and its expertise in upholstery, furniture and textiles, Wayfair said in a news release.
DwellStudio sells products at its own retail stores — its flagship store is located at 77 Wooster St. in SoHo — and at more than 800 retail stores, including Neiman Marcus and Nordstrom.
DwellStudio will operate as a standalone brand under the Wayfair.com umbrella, joining Joss & Main and AllModern.com, the company said.
Acquiring DwellStudio is the first step in Wayfair’s plan to launch proprietary product lines and lifestyle brands in 2013, a spokesperson said in an email.