Livspace, the home design and renovation platform, has forayed into Singapore, its first global market. The company is looking at making the city-state its base for all Asia-Pacific markets like Malaysia and Australia.
Livspace is eyeing to invest about $25 million to scale operations in Singapore. It has also appointed Ravindran Shanmugam, former Grab and McKinsey Executive, as the country head in Singapore to run the operations.
Ramakant Shama, Co-Founder of Livspace, said, “Singapore faces similar issues as India, including a fragmented designer and supplier base leading to timeline delays, transparency issues, quality issues, while the price points are higher.”
The company connects designers with customers as well as suppliers. At the backend, it operates a complex supply chain to maintain delivery timelines. Livspace further takes end-to-end ownership of housing projects, right from design to manufacturing to installation.
“Going international is a big shift in the mindset of the company,” Sharma stated.
In order to cater to customers in the region, Livspace will also carve out a more structured global sourcing strategy in China, Malaysia and India over the next year.