Furniture brand Swoon Editions has raised GBP1.2m in investment from Index Ventures, Octopus Investments and angel investors.
Swoon Editions was founded in March 2012 and has traded until now as Decoholic. During this period it has built a loyal following of thousands of customers. This is the company’s first external investment.
Brian Harrison, chief executive and co-founder, says: "We believe people should be able to own beautiful furniture without paying six times what it costs to make. We figured if we could identify pieces that people really covet, and only make those, there was an opportunity to deliver great designs to consumers at market beating prices.”
Swoon Editions has developed tools to identify trending styles. It then creates prototype designs based on these styles and invite customers (Insiders) to vote on each piece in a design “Audition”. The aim is to identify pieces which appeal to a broad base of customers, and then produce those pieces with internationally renowned manufacturers.
Each design is sold as a numbered, limited “Edition” and made in a quantity to fill a dedicated shipping container. By going direct to the makers and selling every piece before it leaves the workshop, the supply chain is extremely lean. This means Swoon Editions can offer high quality furniture to its customers at around half normal retail prices for items of the same quality.
Debbie Williamson, co-founder, says: "We really focus on finding the right manufacturers whose standards match our own. We track down the same factories that make furniture for high-end interior stores and commission them to produce our Editions. We have a very close relationship with just a handful of brilliant furniture makers.”
Robin Klein, who led the investment for Index Ventures says: "Debbie and Brian use their exceptional analytical skills and meticulous attention to quality and detail in order to simplify an often complex and inefficient supply chain. The result is a compelling business model for both investors and customers."
Swoon Editions will use the investment to expand its range of products and accelerate its marketing in the UK.
