Saint-Gobain, the design solutions company, has acquired a minority stake in Livspace. With this acquisition, Saint-Gobain is focusing on the rapidly growing residential markets in India and South-East Asia.
Livspace is a digital-first intermediation platform that offers end-to-end solutions for home interiors, design and installation. This investment aims to complement Saint-Gobain’s full range of solutions in India, which accounts for over 80 per cent of the country’s building construction market, the company said in a statement.
“I am very pleased to partner with Livspace. 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),” said B. Santhanam, CEO Asia-Pacific, Saint-Gobain.
Founded in 2015, Livspace claims to have grown its business rapidly by deploying significant investments in technology, marketing and end-to-end solutions in around 20,000 homes annually in India.
“This partnership is a win-win for both companies, aiding a faster scale-up and expanded customer reach. Livspace offers a complementary route to market, promoting solutions under the Saint-Gobain brand. We will derive significant synergies and learnings in terms of customer behaviour, technology platform, services and supply chain,” added Santhanam.
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