Singapore – E-commerce aggregator Una Brands has acquired Singapore’s furniture brands, EverDesk+ and ErgoTune, in a deal worth over eight-figures. This transaction deems to be one of the largest acquisitions of Singapore-based direct-to-consumer (DTC) brands.
EverDesk+ and ErgoTune have become household names after growing exponentially against the backdrop of the work-from-home requirements during the pandemic, and the subsequent shift to hybrid working arrangements fuelling and sustaining demand for ergonomic furniture.
The acquisition aims to aid EverDesk+ and ErgoTune’s expansion into new regional and international markets and to help achieve the goal of becoming the leading global players in the quality ergonomic furniture market. In addition, Una Brands’ growth strategy will see the brands launch onto additional e-commerce platforms in the coming months, including Amazon in the first half of 2022, as well as further their online-to-offline (O2O) offering with a showroom in Sydney from April, where customers can experience both brands’ products.
Together, the companies will work in partnership to lead the businesses through this period of growth and into their next evolution, with the brands benefiting from Una Brands’ global presence and the expertise of its team who hail from the likes of Irvins, Lazada, and Zalora.
Yi Hao Lye, the co-founder of ErgoTune and EverDesk+, shared that the brands’ success has already far exceeded their expectations, but when the opportunity to work with Una Brands came along, they realised that a partnership with them would only further the growth plans they have.
“With Una Brands’ financial backing and operational expertise, we are poised to grow our brands in various regional marketplaces and enter new markets at an accelerated timeline. Most importantly, Una Brands will accelerate our mission of helping people create a workspace where they feel great and can achieve great things. We are very excited to have Una Brands support the next phase of our expansion story,” said Lye.
Meanwhile, Kiren Tanna, Una Brands’ co-founder and CEO, stated that they are looking forward to capitalising on ErgoTune’s and EverDesk+’s strong momentum over recent years, and turbo-charging the brands’ growth with Una Brands’ in-house e-commerce expertise.
“We aspire to grow ErgoTune and EverDesk+ into the region’s best-selling ergonomic chairs and desks in the next three years,” said Tanna.
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