Tired of the hassles in second-hand furniture sales, this businesswoman established AptDeco, a unique platform. The platform has garnered over $20 million in funding.
In the ever-evolving world of e-commerce, one platform is making waves in the second-hand furniture market: AptDeco. Launched in 2014 by Reham Fagiri, a former Goldman Sachs engineering manager, AptDeco has become a go-to destination for consumers seeking affordable, sustainable, and popular furniture brands.
With a cumulative revenue of just under $100 million, AptDeco has diverted close to 20 million pounds of furniture from landfills, demonstrating its commitment to sustainability. The platform offers features such as online purchasing, a dispute process, and nationwide shipping, making the buying experience seamless and hassle-free.
The appeal of second-hand furniture is evident, with many consumers looking to make more sustainable purchases or save money by purchasing used, remanufactured, and refurbished furniture. This trend is reflected in the global second-hand furniture market, which is projected to reach $57 billion by 2030, up from $34 billion in 2023. In the U.S., the resale market, which includes furniture among other sectors, was predicted to reach about $83.75 billion in 2023 and is expected to grow to about $91.6 billion by 2027.
AptDeco's success is not limited to the U.S. market. Large furniture brands are turning to AptDeco to resell furniture via private-label sites it creates for them. Particularly sought-after is wooden furniture, with a 39.33% revenue share in 2023.
The platform's growth is also driven by its tech-enabled logistics system, which eliminates the need for warehouses. Instead, AptDeco uses this technology for delivery, ensuring a smooth and efficient process for both buyers and sellers.
Competition in the second-hand furniture market is fierce, with rivals including Chairish and Kaiyo. However, AptDeco's focus on sustainability, affordability, and user experience sets it apart. The company expects to be fully profitable this year with a 50-employee workforce.
Tariffs may soon add to the appeal of second-hand furniture due to President Trump's efforts to bring furniture-making back to the U.S., but AptDeco, with its pre-owned products, hasn't been directly impacted by the tariffs.
As more brands explore how to participate in resale to expand their revenue streams and soften the impact of tariffs, it's an exciting time for the circular economy. The growth potential for the second-hand furniture market is significant, making AptDeco a key player in this burgeoning industry.
- Entrepreneurship in the second-hand furniture industry is flourishing, with AptDeco, a platform for used furniture, reaching a cumulative revenue of nearly $100 million.
- The appeal of AptDeco lies in its commitment to sustainability, having diverted 20 million pounds of furniture from landfills.
- Thrifting for used furniture is becoming increasingly popular, with many consumers opting for second-hand pieces to save money and make more eco-friendly purchases.
- The global second-hand furniture market is anticipated to reach $57 billion by 2030, reflecting this growing trend.
- In the U.S., the resale market, including furniture, is projected to grow from $83.75 billion in 2023 to $91.6 billion by 2027, signifying a rise in consumer interest.
- AptDeco's success is not only limited to the U.S., as it collaborates with large furniture brands to resell furniture via private-label sites, with wooden furniture accounting for a 39.33% revenue share in 2023.
- The platform's tech-enabled logistics system eliminates the need for warehouses, contributing to its growth and efficiency.
- Competition in the second-hand furniture market is intense, with rivals like Chairish and Kaiyo, but AptDeco's focus on sustainability, affordability, and user experience sets it apart.
- The potential growth for the second-hand furniture market is substantial, making AptDeco a significant player in this expanding industry.
- As tariffs may increase the appeal of second-hand furniture, the future of AptDeco and other similar platforms looks promising in the realm of green business, real-estate, and personal finance, even in the face of competition from fintech and venture capital.
