NEWSWIRE: Vesta Redefines Furniture Rental Landscape With Strategic Acquisitions of Fernish and Feather
PRESS RELEASE • NOV 9, 2023 06:00 PST
Companies Will Operate Independently Under the Newly Formed Parent Company Showroom
LOS ANGELES, November 9, 2023 (Newswire.com) - Vesta, the largest luxury interior design and staging firm in the country, is leading a new era of circularity with the acquisition of two prominent direct-to-consumer furniture rental and e-commerce companies: Fernish and Feather. Leveraging its remarkable track record of designing over 3,000 homes every year, Vesta has established itself as a driving force in the broader furnishing and design industry, and with this most recent move, is poised to dominate the rental market.
These acquisitions represent a significant milestone for Vesta, expanding its influence in luxury interiors to the mass market. Operating as separate brands under the collective banner of Showroom, the three companies will serve customers across New York, Southern California, South Florida, the Bay Area and Seattle, with national e-commerce coverage.
"Leveraging our shared software platform, logistics, and proprietary distribution, Fernish and Feather are the next spokes in our flywheel of services. Whether you’re a recent graduate renting your first apartment in New York or an A-list celebrity designing a beach house in Malibu, Showroom’s brands provide a full lifecycle solution,” said Julian Buckner, founder and CEO of Showroom.
Founded in 2017 by Julian Buckner and Brett Baer, Vesta has continually expanded, launching new markets and embracing new verticals. The company gained initial prominence through its home staging business, frequently showcased on hit TV shows like Netflix's "Selling Sunset" and Bravo’s "Million Dollar Listing," and quickly grew into the largest in the country. Capitalizing on this momentum, Vesta launched an interior design studio in 2020, and an e-commerce platform in 2021, establishing itself as a staple in the elite world of interior design and custom furniture. Now, in its boldest move yet, Vesta is merging the worlds of luxury design and accessible, sustainable furniture solutions.
Fernish and Feather have swiftly risen to become household names in the otherwise stagnant world of consumer and commercial rental. Their combined expertise, now bolstered by a talented team of over 50 in-house designers, finds a new home under the Showroom umbrella. Notably, Fernish and Feather are partnered with some of the nation's largest real estate operators including Brookfield and the Related Companies. These acquisitions represent a strategic step forward for Showroom, ensuring consistent growth and a new long-term focus on providing flexible solutions to a diverse clientele’s evolving needs.
"Sustainability has always been the core of what we do at Feather. In Vesta, we've found a partner that shares our commitment. This move is more than a merger; it's two like-minded companies joining forces to push the furniture industry in a more responsible direction," said Jay Reno, founder of Feather.
According to Michael Barlow, founder of Fernish, “The furniture rental landscape is rapidly evolving, and scale has become critical to meeting consumer demand and expectations. Partnering with Vesta is a strategic move that combines our strengths and significantly enhances our market reach. I am thrilled to be joining the team.”
Showroom’s combined 200 employees will be led by Julian Buckner as CEO, supported by a leadership team boasting experience from leading global brands such as Amazon, McKinsey, Microsoft, CORT, and Crate & Barrel.
When asked what’s next, Buckner noted, “We are fortunate to be a profitable and growing business in an industry rocked by several high-profile failures in recent months. We are looking forward to executing on our strategy which includes continuing to acquire complementary businesses across the design, rental, staging, and related software verticals.” The pro-forma business is on track to achieve nine-figure revenues within its first fiscal year of combined operations.
Showroom
Showroom, the newly formed parent company of Vesta, Fernish, and Feather, is driving the next generation of innovation into the $200 billion furnishing-services value chain, focused on design, staging, rental, and related software. By leveraging a shared platform of software, infrastructure, and proprietary distribution, Showroom has created a flywheel of brands, channels, and services that unlock value in ways that are wholly unique to the industry.
Vesta
Vesta is a full-service luxury design studio, offering a suite of services ranging from custom furniture manufacturing and residential interior design to home staging and furnished rentals. Vesta collaborates with some of the most discerning clientele, from celebrities to world-class designers, who come to the studio for its consistent execution of stunning designs.
Fernish
Fernish is a direct-to-consumer furniture and decor rental service dedicated to simplifying the home creation process. With designer-curated selections, Fernish empowers residential consumers to choose single pieces or full-room furnishings for however long they want them, offering flexible rental or purchase options, thus reducing the time, carbon footprint, and cost that it takes to create a home.
Feather
Feather is replacing traditional furniture ownership with a culture of sharing and sustainability. The rental collections offered by Feather instantly elevate any space while the circular economy approach extends the useful life of all of its furniture.