Fledgling UK website www.wayfair.co.uk, which sells a comprehensive range of homewares, has achieved £20m of sales in its first year.
The site was launched after United States retailer CSN Stores secured $165m of venture capital funding last June and used the funds to amalgamate over 200 of its home-related shopping websites to create wayfair.com in the US.
The site now offers over 5,000 brands and over 5m items – the country’s largest selection of homeware products, and Wayfair itself is the largest online retailer of homewares and home furnishings in the US.
The funding was used not only for the rebranding but is also fuelling global expansion initiatives in Germany, Australia and the UK – including, last November, the launch of wayfair.co.uk.
Achieving £20m of gross sales since then, the website offers over 500,000 homewares product offerings, including an extensive range of kitchenware, cookware, tabletop and small appliances, and more than 1,600 UK-focused brands. It attracts some 900,000 visits a month.
“Our strategic decision to refresh our shopping experience for customers a year ago is paying off,” commented Wayfair CEO Niraj Shah. “We’re seeing unprecedented levels of growth in both the UK and across our global sites, which is exciting.”
He added that Wayfair’s ultimate aim was to become the number one brand in the UK for home items.
In September this year, Wayfair announced a partnership to sell its selection of home items – from furniture and lighting to home accessories and decorations – on Tesco Direct. The company says it is on target to offer over 60,000 homeware products on Tesco Direct by the end of the year.