CSN Re-Launches as Wayfair

August 31, 2011  by in UnCategorized   

By Home Furnishings Business in Furniture Retailing on September 1, 2011

Online home furnishings retail powerhouse CSN Stores has relaunched its brand as Wayfair.

Wayfair.com carries 4.5 million home items from 5,000 brands.

The launch also marks a major strategic development for CSN Stores LLC. Over the past nine years, CSN has experienced significant growth by focusing its efforts on 200-plus sites, named for the category of goods they carry, such as Cookware.com, Luggage.com, Strollers.com, and BedroomFurniture.com.
 
Now, as the company is on course to surpass $500 million in sales this year, it's consolidating all of these sites, which represent a comprehensive catalog of everything for the home, from barstools to beds, into one recognizable and robust branded destination, Wayfair.com.
 
"After years of growing successfully and profitably by selling and delivering huge items including bedroom sets, gazebos, and grills from 200 different sites, we decided it was time to refresh what we do best and focus on one new site to benefit our customers," said Wayfair CEO Niraj Shah. "We also have a more consumer-friendly name, an attractive logo and layout, and a technically advanced site platform--upgrades that give customers faster, more enjoyable, and memorable shopping experiences all in one place."
 
With its new tagline, "a zillion things home," Wayfair.com will expedite searches for specific items while also giving consumers broader browsing ability to view other home-related categories, including furniture and décor, cookware, lighting, tools, flooring and more. Wayfair.com offers a range of price points to meet consumers' varying budgets. For example, best-selling loveseats range from a traditional piece from Skyline for $449, to a casual style from Rowe for $1,470, to a modern settee from Knoll for $3,823. All three ship for free.

"Our mission is to become the favorite place to buy anything for your home," said Wayfair Chairman Steven Conine. "Based on our selection, strong service and competitive pricing we think this is achievable. We also keep our selection fresh by adding tens of thousands of new items each month."

The rebranding follows the company's first round of institutional funding--June's $165 million investment from Battery Ventures, Great Hill Partners, HarbourVest Partners and Spark Capital. According to The MoneyTree Report, it was the largest round of funding in the U.S. during second quarter 2011. This funding supports the Wayfair transition, appropriate acquisitions, and other plans for corporate expansion in the U.S. and globally.
  
To both accelerate and manage its growth, the company is hiring aggressively. The staff has more than doubled in two years, jumping from 400 to more than 850 employees to date. The company plans to hire as many as 200 additional people by year's end, bringing the total number to more than 1,000.

Beyond Wayfair.com, the current brands AllModern and Joss & Main will remain, as well. AllModern.com caters to people who prefer the modern design aesthetic and JossAndMain.com is the company's first flash sale site, offering goods at up to 70 percent off during 72-hour sales.

Earlier this year, CSN Stores (now Wayfair) surpassed Crate & Barrel in industry rankings to become the No. 2 online retailer of home furnishings and housewares in the U.S., based on annual sales. In the past two years, the company has grown more than 50 percent annually.

Beyond its Boston, Mass., headquarters, Wayfair has an operations and distribution center in Ogden, Utah; and another distribution center slated to open in Hebron, Ky., this fall. Wayfair has international offices are in Galway, Ireland; London; and Munich, Germany.