It’s no secret we’re big fans of One Kings Lane, a Kleiner Perkins and Greylock-backed flash sales site for home décor, furnishings and accessories. Today, the e-commerce startup is launching a new feature called Downstairs, which will give the site’s members deeper discounts on a selection of items; with prices up to 80 percent off retail.
Until now, discounts have remained in the 50 percent off range so One Kings Lane is now discounting these already discounted goods even more. “Downstairs,” (which seems like a flash sales site’s version of Nordstrom Rack or Filene’s Basement) will still feature many of the brands and designers that One Kings Lane includes in its sales, but selection will change on a weekly basis and there will be a more limited availability.
The new feature will launch June 19. And I’m curious if a more deeply discounted, regularly stocked vertical will become a increasingly common feature on flash sales sites with more inventory.
One Kings Lane has been on a tear of late, raising $23 million in new funding, and revealing 500 percent sales growth in 2010.