(MENAFN- mslgroup) Riyadh, KSA –25th October 2021: Livspace, India and South East Asia’s largest omni-channel home interior and renovation platform today announced expansion into the Middle East in a strategic JV with the Alsulaiman Group (ASG), Ikea’s operating partner in the region. With its maiden joint venture built on top of the home improvement industry's only technology platform, digital supply chain and most trusted managed-marketplace, Livspace will aim to capitalize on the vast opportunities in home interiors and renovation segment in the MENA region starting with KSA.
With its award-winning industry-first and only technology platform, Livspace brings homeowners, design professionals, vendors and brands together on a single managed marketplace. The company’s global experience, combined with the strong legacy of AlSulaiman Group, will aid the brand in delivering world-class home interior and renovation solutions across the Middle East. ASG is expanding its range of products and services through investing and partnering in innovative companies and startups that bring unique concepts to the region.
Saudi Arabia’s Vision 2030 initiatives are sparking growth in home ownership and a wider array of residential formats - villas to high-rise apartment living in addition to the speeding up of the digital transformation – which underlines the need for quality home interior design and execution. Both Livspace and ASG have invested about $50 million to fuel regional growth and become market leaders in the segment across multiple markets in MENA. The JV further plans on strengthening the team by investing in top talent across levels while also aiming to onboard over a thousand design and home improvement professionals partners in the region by 2022. The JV will aim to bring trusted home interiors and renovation solutions to homeowners, enable thousands of small and fragmented design and home improvement professionals to grow their business, and create the largest, most organized digital supply chain for the home interiors and renovation industry in the region.
Anuj Srivastava, CEO & Co-Founder, Livspace said: “We are thrilled to expand our operations in the Middle East with a strategic partnership of the caliber of Alsulaiman Group. As consumers move towards organized and trusted digital brands - sellers, suppliers, vendors and brands adopt digital platforms. Livspace will rapidly continue to scale its business model across multiple regions and new markets across the globe starting with the APAC geography. Given our technology prowess, deep understanding of the supply fundamentals and the ready launch and scale template, we today dominate the market in the high growth India and Singapore markets. Our platform enables us to explore JV models to quickly expand our services in both new and existing markets. We are excited about our partnership with a trusted partner like ASG to provide customers with an enhanced yet standardized experience through our proprietary technology platform which brings together trusted design partners and home improvement professionals, streamlining the home renovation process.”
Livspace delivers end-to-end creative designs, quality execution of interior design, renovation, and supply of materials, and fit out elements for bedrooms, living rooms, bathrooms and kitchens. In addition to delivering top-notch modular interior solutions, Livspace is also focusing on new mobile applications, AI, ML retail technology and visualization solutions for the home improvement industry. Through its partnership with Livspace, AlSulaiman’s customers in the region will have access to home design ideas in designated studios and on the tip of their fingers through an online technology platform, combined with execution matched with a built-in ecommerce concept for materials and furniture elements.
Saud Alsulaiman, Alsulaiman Group CEO said: “This partnership with Livspace will allow us to expand the scope of the customer experience from the beginning of the design of the home to the end of implementation, in an innovative and unique experience to turn the dreams of homeowners into reality. The companies of Alsulaiman Group - IKEA, Flow, Ehteraf, Salasa and other emerging investments - will continue to grow as an integrated ecosystem to enhance customers' lives through better experiences whether they access to our products online or through stores.”
The Livspace name is synonymous with market leadership, trust, quality and reliability, and the company has established itself as the most sought-after residential interiors companies in India and South East Asia. Livspace is looking to expand across 80 new cities globally starting with the APAC geography over the next 18-24 months.
Over the past four decades, Alsulaiman Group has been active in managing business cover three segments Omni-channel Retail, Services, and Retail Real-estate including IKEA Saudi Arabia and Bahrain, Flow Progressive Logistics, Ehteraf real estate development, in addition to a major investment in Salasa ecommerce fulfillment company.
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