Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Designer Trade Services offers design professionals discounts and exclusive products.
Home furnishings retailer Wayfair LLC has launched a rewards program targeting design professionals. The free program, labeled Designer Trade Services, offers interior decorators, architects, designers and other industry professionals discounts on volume purchases on Wayfair.com, AllModern.com and DwellStudio.com, along with other benefits including a concierge service.
Members of the new program will receive 3% back in Wayfair Rewards on every purchase made on Wayfair.com, AllModern.com or DwellStudio.com. The sites offer more than 7 million products, Wayfair says. The service will also include access to an unidentified number of products exclusively available to Designer Trade Services members. The concierge service will help designers start projects by managing budgets or delivering materials. Members also could have their work showcased in Wayfair’s monthly online gallery.
“With the launch of our designer trade services, we can now expand our reach to design professionals by giving them exclusive access to the tools and services needed to help get their jobs done effortlessly and flawlessly,” says Wayfair senior director of brand marketing Nancy Go.
E-commerce sales growth at Wayfair, No. 52 in Internet Retailer’s Top 500 Guide, about 50% in 2013, as well as the hiring of a new chief financial officer led some analysts to believe that an IPO is on the horizon. New CFO Michael Fleisher has a background in big company finance and public company accounting, having served as vice chairman, strategy and operations, for Warner Music Group. He also led an IPO as CEO of consultancy Gartner Inc.