Los Angeles-based startup Fernish has raised $30 million to transform the $100 billion dollar furniture industry and rethink how people live today. The platform-based furniture subscription service allows users to subscribe to an entire room or specific pieces, and they can provide a range of curated designer collections. With trends around mobility and ownership, Fernish was designed for the 25 million young professionals renting their homes and planning to move within the next 12 months.
Fernish was created to tap into a mobile lifestyle. Designed to meet a demand for convenience and quality furniture alike, the startup also takes aim at sustainability in the furniture market. According to the EPA, 9.8 million tons of furniture are thrown in landfills each year in the US alone. Fernish was made to maximize the life of furniture by keeping it off the street and in circulation, with pieces that can be refurbished across multiple owners.
Furniture Today’s Consumer Buying Trends Survey found that millennials are the largest consumer group in the US furniture and bedding market. This means that young professional consumers buy, move and dispose of furniture through a variety of short-term housing situations. With Fernish, subscribers can currently choose from over 220 different pieces of furniture from the likes of Crate & Barrel, CB2, Floyd, Campaign and EQ3 with pieces from select retailers and in-house brands. Subscribers sign up for a plan entailing a monthly fee, and can swap-out, buy-out or return furniture to Fernish once their subscription period ends.
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Fernish launched in Los Angeles in mid-2018 and has now expanded to the Seattle area. To date, the company has already put millions of dollars of furniture into circulation. Michael Barlow, co-founder and CEO of Fernish, said that, "Fernish is responding to a change in consumer behavior towards mobility, flexibility and convenience. These trends have transformed homes, cars and clothing. Fernish is bringing those same trends to home furnishings." Fernish provides people with a flexible alternative to furniture ownership that enables customers to select pieces based on their lifestyle.