Madison Reed has raised $32.1 million since launching 15 months ago.
The home goods e-retailer adds to its expansions in Europe and Australia.
Wayfair LLC, No. 50 in the Internet Retailer Top 500 Guide, today announced it will begin selling furniture, lighting, décor and home goods on United Kingdom online marketplace Tesco Direct. Tesco Direct is the e-commerce arm of Tesco Stores, which is No. 3 in the Internet Retailer Top 400 Europe and operates online and in about 5,000 physical locations in 14 countries.
“Tesco is a massive brand in the U.K market. They have over a 30% share of the U.K. grocery market and Tesco Direct is among the largest online retailers in Europe,” says Joe Noonan, head of international for Wayfair. “We feel their reach and brand recognition along with our breadth of selection in furniture, décor and related home goods is a winning combination for customers across the U.K.”
Wayfair is now selling 20,000 products on Tesco Direct and will continue adding more to reach 60,000 by year’s end, the retailer says. It aims to eventually sell as much of its catalog as possible on both Tesco Direct and Wayfair.co.uk, Noonan says.
Wayfair began selling in the U.K. in 2008. In addition to its Boston headquarters and two other U.S. warehouses in Ogden, UT, and Hebron, KY, the e-retailer has offices and operations centers in London; Galway, Ireland; Munich, Germany, and Sydney, Australia.
Joining with Tesco reflects Wayfair’s rapid scaling out in the U.K., Germany and Australia, Noonan says. “We view these partnerships with well-known retail brands as an opportunity to drive awareness of the Wayfair brand and value proposition,” he says. “In each market, we have plans to grow the categories we’re in, expand into adjacent categories within the home, and drive customer loyalty through engaging editorial content, compelling promotions and fast, simple and free delivery.”
Earlier this month, Wayfair announced a partnership with Coastal Living magazine to sell products selected by the magazine’s editors in a special boutique in Wayfair.com.