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 speed up the digital transformation – which underlines the need for quality home interior design and execution. Both ASG and Livspace have invested about $50 million to fuel regional growth and become market leaders. The JV further plans on strengthening the team by investing in top talent across levels while also aiming to reach 500 design partners in the region by 2022.
While the JV will provide innovative and affordable services to its customers to renovate their homes, the JV will be an opportunity for tens of thousands of contractors, designers and home improvement professionals to develop their businesses and reach their target customers through the platform.
Saud Alsulaiman, CEO, Alsulaiman Group, said: “This partnership with Livspace will allow us to expand the customer journey from the start of designing your home till the execution of a final home, 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 and solutions online or through stores.”
In addition to providing high-quality interior design solutions, Livespace also focuses on mobile applications, artificial intelligence, machine learning technology in retail, and virtual reality solutions in home development. This will enable Alsulaiman Group customers in the region to have access to home design ideas in dedicated studios as well as an online technology platform, along with the implementation compatible with the e-commerce concept.
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.”
Since its establishment in 2014, Livspace name is synonymous with quality and reliability, and the company has established itself as one of the most sought-after residential interiors companies in India and South East Asia. It offers superior solutions in interior design and fit-out services to clients – recently expanding to 60 new market entries across India and 20 Asia Pacific cities. Its skilled craftsmen use cutting edge interior installation techniques to create spaces that deliver unrivalled levels of quality and workmanship.
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About Alsulaiman Group:
Alsulaiman Group is owned by the Alsulaiman family and was established by H.E. Dr. Ghassan Ahmed Alsulaiman in 1983 in Jeddah, Saudi Arabia. Alsulaiman Group is an active retailer and retail-related services group that is represented by 6 companies serving Saudi Arabia and GCC countries. With an average of 4000 employees in the year of FY21. Its business activities cover three segments Omni-channel Retail, Services, and Retail Real-estate. The Omni-channel Retail segment has two business models “Brand Concepts” and “Platforms & Market Places”. The services segment is driven by the continued growth in e-commerce making “Ecommerce Fulfilment”, “Last-Mile Delivery” and “Home Services” enormously important. The retail Real-estate segment is focused to support the development and expansion of the retail segment.
For more information, please visit : www.alsulaimangroup.com
Livspace is India and Southeast Asia’s largest and fastest-growing omni-channel home interiors and renovation platform. Livspace uses its proprietary technology to provide a one-stop renovation solution for homeowners—from design to managed last mile fulfillment for all rooms in a home. The platform has organized a fragmented industry, bringing together designers, brands, manufacturers and contractors to enable an eCommerce-like trusted and predictable experience. Livspace currently serves Singapore as well as thirteen metro and non-metro areas in India (Bengaluru, Delhi, Noida, Gurgaon, Mumbai, Thane, Pune, Hyderabad, Ahmedabad, Calcutta, Kochi, Jaipur and Chennai). Livspace has showcased phenomenal growth since its launch, having delivered over 100,000 rooms and selling over 7.5 million SKUs through its platform. The company has raised over USD 200 Mn in capital from some of the top global investors including Ingka Ventures (IKEA), TPG Growth, Goldman Sachs, Kharis Capital, Venturi Partners, FFP (Peugeot Group’s Holding Company), EDBI, Bessemer Venture Partners, Jungle Ventures, Helion Ventures and UC-RNT.
For more information, please visit: www.livspace.com
Media Contacts :
For Alsulaiman Group : Murtadha Alalawi | email@example.com
For Livspace : Nafeesa Tasneem | firstname.lastname@example.org
© Press Release 2021