French glass and building materials maker Saint-Gobain has acquired a minority stake in Livspace, an online interior company that is rapidly expanding in India and South-East Asia, for an undisclosed sum.
Founded in 2015, Livspace offers end-to-end solutions for home interiors, from design to installation. The company handles around 20,000 homes annually in India and is poised to grow rapidly in the future.
“Over the last two years, our businesses have focused on developing an innovative approach for the home segment by offering its customers end-to-end solutions (design to installation). This partnership is a win-win for both companies, aiding a faster scale-up and expanded customer reach,” B Santhanam, CEO Asia-Pacific of Saint-Gobain, said in a statement.
Livspace offers a complementary route to market, promoting solutions under the Saint-Gobain brand.
This investment in Livspace will complement the Group’s full range of solutions in the residential market in India which accounts for over 80 per cent of the country’s building construction market, said a statement.