Fashion For Home, the online designer furniture store, has scored a new funding round led by the Munich-based VC Acton Capital Partners, while Holtzbrinck Ventures has also participated. And with it we have an exit of sorts.
That’s because, as part of the round, the Samwer brothers’ incubator, Rocket Internet, has sold its shares, although terms of the transaction aren’t being disclosed — unsurprising given the Samwers’ notorious reputation for secrecy. It’s also especially curious when you factor in last year’s leaked memo where Oliver Samwer described ambitions to become “number one” in the e-commerce sector for furniture with a strategy he controversially likened to “blitzkrieg”.
Fashion For Home’s new funding round as a whole is said to be in the “lower double-digit millions”, so also make of that what you will.
Operating out of Berlin, but targeting Germany, the UK, U.S., Austria and the Netherlands, Fashion For Home sells designer furniture online through an innovative vertically integrated “made-to-order” production process and business model and it’s this that enables it to be competitive as costs are kept low and savings passed on to customers. It’s a model that is strikingly similar to the UK’s Made.com.
Fashion For Home was founded in 2009 by Marc Appelhoff and Christoph Cordes.