There's A New Option For People Who Have Graduated From Ikea
Interior Define, which just secured $2 million in a round of seed funding, sells sofas, loveseats, and chairs.
The 10-month-old company builds every piece of furniture on demand and will customize everything, including size, shape, color, fabric, filling, and frame.
With an average price point of about $1,700, Interior Define is targeting customers who have graduated from Ikea furniture but can't afford designer brands.
The cheapest sofa is $800 and the most expensive is a leather sectional costing $3,500.
The furniture has an average turnaround time of eight to 12 weeks and for people who think ordering a sofa online is a risky bet, Interior Define offers a 365-day return policy.
Founder Rob Royer says sales are growing between 20% and 25% month-over-month.
Interior DefineRoyer left the mens' fashion brand Bonobos, which is known for its popular tailored pants, to start Interior Define. The company's CEO, Steve McClearn, is a former vice president of commerce at Sears Brands LLC.
"We're pretty closely linked to Bonobos," Royer says. "I saw the excitement around the brand they are creating and it inspired this concept."
Bonobos founder and CEO Andy Dunn is on Interior Define's board, along with Clint Peterson, a managing partner with the private equity firm Peterson Partners. The latest round of funding follows an initial round of nearly $2.2 million.
Royer describes Interior Define's target customer as a female between the ages of 25 and 40 who is a "design conscious young professional" and "really interested in a brand story, but is looking for value as well."
Interior Define does most of its business online, but it has a showroom in Chicago and plans to open up additional showrooms in the coming months, Royer said. The company will also expand its offerings next year to include pillows, throw blankets, lighting and rugs.