Amit Dalmia, founder and CEO of BedBathMore, an online shopping portal for home furnishing products, firmly believes that people should do business only if they have the instinct for it or if they have a legacy to showcase. “Otherwise rest are all doing arbitrage businesses.”
No wonder, home furnishings and solutions was something that naturally aroused his attention when he made the shift to ecommerce and started BedBathMore in 2012, which became fully operational 18 months ago.
BedBathMore is the online distributor for brands like Portico New York, Dicitex Furnishings and King Koil Mattresses, stores like Baaya Designs, Sanctum and Santorini, brands like Esprit, Spaces, Swayam, Maishaa, Umbra, Corelle, and owns brands like Stoa Paris, Fisher West NY, St. Cloud and Bliss. Though it primarily caters to India, it has shipped products to New Zealand, UK and Dubai as well. Currently, the website showcases about 15K products which company plans to take it to 50K in a couple of weeks.
Moving away from being just a online seller, the startup has diversified into the solutions market, and has acquired many private labels in its journey till now. It wants to build an entire ecosystem encompassing the home solutions market. As Amit says, “Our aim is to be a single destination for everything home.”
Challenges Involved and BedBathMore’s Proposition
Setting up a home furnishing and solutions ecommerce company has its own set of challenges. As Amit points out, home solutions is a very different market. It is a fixed, more steady where not too much of impulse buying happens. If one thinks of it, home still constitutes the single largest expenditure for a family and every purchasing decision has a lot of thought process involved.