Pinterest is betting on video, furniture buyers ignore inflation, and more
It’s tempting to feel right at home when visiting Ikea’s many storefronts – this week, several dozen shoppers in Aalborg, Denmark had no choice when a snowstorm stuck them in the store overnight. They ate Swedish meatballs, walked around the showroom, and slept in beds of their choice. Other than surprise sleepovers, read on for Home affairsthe monthly recap of arrivals and departures in design, manufacturing, media and more.
Inflation hit its highest level in over 30 years last month, according to the United States Bureau of Labor Statistics, accompanied by a 6 percent rise in consumer product prices in the past year . The furniture sector is one of the most affected consumer categories, with some reports pointing to price increases of 12% or more. Yet a study commissioned by Furniture today shows that shoppers are not being discouraged, as consumer visits to physical retail stores continued to increase throughout the year. Since September, the national average foot traffic in furniture and mattress stores has increased 48%.
The US housing market may be hot right now, but real estate in the metaverse is even hotter as investment firms continue to acquire digital land on shared virtual platforms like Sandbox and Decentraland. According to The Wall Street Journal, the world of virtual real estate hit a new high last week when the Metaverse real estate development company Republic Realm, led by the chief executive Janine Yorio, paid $ 4.3 million for land at Sandbox, marking the biggest sale of its kind to date. (TO BOH ‘At the Future of Home conference in September, Yorio explained what drives the virtual real estate market and why the metaverse is so ripe for investment.) The deal broke a record set just a week before, when A subsidiary of Canadian investment firm Tokens.com Corp paid $ 2.5 million for land in the fashion district of Decentraland.
In an effort to strengthen its supply chain capabilities, Ashley Furniture has entered into an agreement to purchase the West Coast truck fleet from Springfield, Missouri-based haulage company Wilson Logistics. According to Home News Now, the deal, which is expected to be finalized by the end of the year, marks the company’s first logistics-related acquisition and would double the brand’s current fleet of trucks and transport services.
Pinterest acquired the Vochi video editing app for an undisclosed amount, TechCrunch reports, using Vochi’s intellectual property, founders and 40-person team to extend its own video creation tools. The move follows a shift in Pinterest’s offerings over the past year, with a new focus on video content through initiatives like its Idea Pins, Creator Originals, and a video navigation page called l ‘Watch tab, where the platform encouraged user participation with $ 20 million. in designer prices.
Hometap, a startup that allows homeowners to hire an investor in their property, has announced the completion of a $ 60 million investment round, reports TechCrunch. Founded in 2017, the company offers users a way to borrow against the equity in their home without taking out loans. As investors provide money, they receive a share of the future value of the house in exchange, and when the house sells or the owner pays for the investment, Hometap receives a percentage of the sale. The company’s revenue growth has more than tripled this year and it plans to use the new capital to grow its people, programs and partnerships and expand its operations nationwide.
Wayfair has announced plans to open three physical retail stores next year to represent two of the online furniture giant’s specialty retail brands. The new locations will all be in Massachusetts: a Joss & Main in Burlington and an AllModern in Lynnfield and Dedham. As Home News Now reports, the stores are the first in a series of openings set to take place over the next two years, during which Wayfair plans to launch additional locations for its five brands in “optimal formats, sizes and geographies” .
Launches and collaborations
Actress and podcast host Busy philipps partnered with Amazon Handmade to curate a holiday collection and co-design multiple items, partnering with five artisans to create a range of paintings, accessories, household items, stationery, planters and jewelry. Her collaborators include Austin, Texas-based illustrator KathyPhantastic; Amsha, a housewares company based in Portland, Oregon and East Africa; the Fairmont & Grove Paper Co., based in Plano, Texas; Italy-based knitting resource The Yarn Kitchen; and New Jersey-based jewelry company T. Victoria.
In collaboration with Danish housewares design company Room Copenhagen, the Lego Group has unveiled a new range of household items inspired by its colorful toy blocks, Furniture today reports. The collection includes life-size Legos made into desk drawers, wall racks, photo frames and book racks, as well as stackable storage items made from sustainably sourced red oak.
Starting from DÃ©co Off in January 2022, de Gournay’s new Parisian showroom will present the furniture brand Fisher Weisman Collection for a one-year exhibition. The partnership will mark the introduction of the wallcovering brand into representation in the European market.
Unmade beds, dirty dishes, general mess – such damage is usually not found in shelter magazines, but when the interior magazine Apartment debuted over 13 years ago, the editorial team set out to exhibit the elegant yet inhabited side of their subjects’ homes. For Sense, Sophie haigney gathers Apartmentfounders of for an oral history of the cult publication they started in their 20s and explains how the project continues to push the boundaries today.
According to a recent survey by the online auction house 1stDibs, many of the design emblems that have come to define the âmillennial aestheticâ – namely chewing gum pink, rattan furniture and arches – could be in. Endangered. Of the 750 interior designers who participated, less than 5% expect the look to be popular next year. For Bordered, Diana budd examines the report style forecast for the coming year.
The supply chain is in a protracted and unprecedented rut, but how did things get so complicated? The New York Times created an interactive infographic to show how the pandemic’s effect on consumer spending – an economic downturn followed by a rapid increase in demand for durable goods – triggered a chain reaction as the shipping industry and export has not yet caught up.
The American Society of Interior Designers Foundation has announced the recipients of its 2021 Transform Research Grants, which raise awareness of design practices that help educational communities. This year’s $ 70,000 award-winning project is led by Renae Mantooth, an education sector design researcher who is leading a study on the impact of moving a predominantly Hispanic school from a dense urban setting to a larger, greener location on well-being, the findings and college readiness among at-risk and first-generation students. In addition, $ 30,000 was awarded to a study conducted by J. Davis Harte, Director and Faculty of Design for Human Health at Boston Architectural College, which aims to develop an interior-oriented, trauma-informed design assessment for K-12 schools.
Home page image: The collection of home goods created by Lego Group and Room Copenhagen | Courtesy of the Lego Group