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A six-month-old local startup selling high-end furniture made to order has already received a million dollars in funding, reports Crain's Chicago Business.
Interior Define, an e-commerce operation with a small production team in China and a brick-and-mortar showroom in Wicker Park, is receiving cash from the Utah VC firm Peterson Partners and Andy Dunn, CEO of the high-end apparel brand Bonobos. Rob Royer, co-founder of Interior Define, previously worked for Bonobos as head of customer relationships.
The startup offers price-conscious consumers a way to buy luxury home furnishings without having to spend too much or borrow a truck. Customers can pick out their favorites online or at the company's local storefront and expect them to arrive fully assembled in two to three months. “We offer Room & Board quality and design or better at West Elm price points or lower,” Royer said to Crain's.
Interior Define caters to busy young professionals who are done with throwaway goods but may not be ready to drop $5000 on a couch. Like many such operations, it was born of personal interest.
“For years,” the founders said on their website, “we aspired to name-brand luxury furniture beyond our reach. The alternatives were mass-produced, uninspired, or 'value' - with pieces that literally wouldn't hold up. Faced with these options, we decided to craft our own approach."
Since launching half a year ago, Royer and Steve McClearn have already seen their sales increase by 20-25 percent each month. The startup currently boasts an annual run rate of $1 million. With this new infusion of capital, they now plan to open showrooms in other cities.
But Interior Define still nurtures partnerships with other small Chicago businesses. Its partners include Everygirl, a website catering to stylish post-collegiate women, and interior designer Alison Victoria, host of the reality TV show Kitchen Crashers.
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