The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
DwellStudio will stay a separate brand.
Home furnishings and décor retailer Wayfair LLC has bought DwellStudio, a retailer specializing in home décor products that operates an e-commerce site and a store in New York.
DwellStudio, which also sells its products in more than 800 specialty retail stores and with other e-retailers, including The Neiman Marcus Group, Nordstrom Inc. and ABC Carpet, will remain a standalone brand like Wayfair’s flash-sale retail brand Joss & Main and furniture brand AllModern.com, Wayfair says.
Wayfair declined to disclose terms of the deal.
Wayfair, No. 52 in the Internet Retailer 2013 Top 500 Guide, says the deal will “enable DwellStudio to scale its core business at a much greater pace while staying true to its design DNA and commitment to the highest quality products for home,” says John Mulliken, senior vice president of strategic initiatives.
Wayfair has had a busy year. In June, it debuted a shoppable image gallery on Wayfair.com, in which consumers can view home interior photos and click on products to get more information about them. And in February it launched daily deals on its e-commerce site.
Neiman Marcus is No. 39 and Nordstrom is No. 28 in the Top 500 Guide.