LOS ANGELES – Jan. 24, 2012 – LuxeYard, a luxury home furnishings and decor flash sale site, announced today its formal company launch. LuxeYard brings a unique approach to the flash sale model, introducing two new e-commerce concepts: Group Buy and Concierge Buying, which creates a retail paradigm, shifting the pricing and sourcing power from retailers to consumers. The company launches with $3.5 million in financing from private investors.
LuxeYard aims to transform the typical retail process by combining access to unique home furnishings and design products with great prices on an interactive, community-driven platform. These new e-commerce concepts will influence both featured products and the final prices while personalizing the shopping experience to each member:
- Group Buy – LuxeYard members have the ability to push product prices down for featured Group Buy items. Members leverage social media and social networks to encourage others to purchase a product, which in turn drives the price down. For example, members may purchase an item for $100; share the information on Facebook encouraging others to buy the same product; and two days later find out that customer demand, which they helped drive, dropped the price to $50. Everyone who purchased the Group Buy Item will pay the final lowest price.
- Concierge Buying – LuxeYard members can request items they would like to purchase at a discounted price by posting photos to one of LuxeYard’s social media platforms. The most popular product will be voted up, via a crowdsourced approach and LuxeYard experts will then source either the exact product, or one known to be comparable or even higher quality, and offer it on the site at a fraction of the retail price.
"Our team identified a significant hole in the explosive, flash sale marketplace, realizing the customer experience was not interactive, community-driven or personalized,” said Braden Richter, CEO, LuxeYard. “We empower consumers with our Group Buy and Concierge Buying concepts, shifting the sourcing and pricing of goods to the consumer. LuxeYard is combining the best of a flash sale with a unique e-commerce platform and an engaging interactive community.”
LuxeYard also features the following:
- LuxeLife Trendsetters – This community of design professionals and influencers provide design curation, offering insights, product recommendations and special events exclusively for LuxeYard members. Members will be able to ask the trendsetter community questions and receive guidance when looking for designer home products. Some of the founding LuxeLife Trendsetters include Daniella Clarke, founder of Frankie B Jeans; Faye Resnick, designer to the stars; and Bobby Berk, up-and-coming rockstar of home furnishings and decor.
- Room Planner – This feature allows consumers to make educated purchase decisions. Consumers can enter room dimensions and/or upload a photo of the room in which they’d place the piece to get a sense for how it fits with the current décor and layout before they buy.
- LuxePop – Shoppers across the country will have the chance to browse the aisles of the nation’s most coveted boutique stores at exclusive LuxeYard prices. From SOHO to Rodeo Drive, members will be able to shop at LuxePop stores from the comfort of home.
LuxeYard offers members the most unique home furnishings and decor at up to 70 percent off retail prices. In order to pass on more savings to consumers, the company is moving away from traditional retail practices by not holding inventory or incurring warehousing costs. Manufacturers will ship products directly to consumers, saving consumers both time and money over retail counterparts.
LuxeYard is the flash sale site for luxury home furnishings and decor that offers access to unique products sourced from an experienced team at prices at up to 70 percent off retail. LuxeYard is the pioneer of two e-commerce concepts, Group Buy and Concierge Buying, which gives consumers the power to drive down prices based on the demand and to determine the items sold on the site. With a management team entrenched in design, LuxeYard partners with trendsetters and industry insiders to deliver interactivity and content on its pages. To become a member, visit www.LuxeYard.com.