Secondhand furniture reseller Kaiyo has introduced its services on the West Coast with a launch in Los Angeles following its generation of $36 million in Series B funding. This most recent round brings the company’s funding to nearly $50 million, which will support Kaiyo’s expansion beyond Northeast U.S. cities including New York, Philadelphia, Baltimore and Washington, D.C.
While the resale market is booming, much of the focus on reselling has been placed on the apparel category. With the expansion of Kaiyo’s services to the West Coast, the company hopes to grow the furniture resale category.
“Furniture is one of the largest waste categories in the U.S., meaning millions of pounds of furniture ends up in landfills each year,” said Alpay Koralturk, Founder and CEO of Kaiyo in a statement. “As a company rooted in sustainability, we believe that’s unacceptable, which is why this expansion means so much to us. Since launching, we have successfully kept more than 3 million pounds of furniture out of landfills, and with our West Coast launch, we look forward to accelerating that number. Put simply, Kaiyo takes the hassle and headache out of making a sustainable choice, and we are proud to continue our rapid expansion across the country.”
Kaiyo’s L.A. services are supported by a new 78,418-square-foot warehouse in Chino, Calif. In addition to the white-glove delivery services that start at $19, Kaiyo allows buyers to buy online and pick up at the warehouse.
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Kaiyo promotes a circular economy through furniture resale, which offers goods at prices that reflect up to a 90% savings on pieces from brands such as Restoration Hardware, Design Within Reach, West Elm, Room & Board and CB2. The company acquires pieces from sellers through complimentary pickup services, then professionally cleans, photographs and securely stores goods until they are bought through the online marketplace. Through the Instant Offer program, sellers may choose to receive payment from Kaiyo immediately after the pickup appointment but before the item sells.
With sustainability top of mind for consumers, many brands have developed their own in-house resale programs or partnered with platforms through which they are able to resell secondhand goods. During the first half of 2022, entering the resale business or bolstering existing secondhand-marketplace efforts was a priority for companies including:
- Allbirds;
- Another Tomorrow;
- Cuyana;
- DICK’S Sporting Goods;
- Dolce Vita;
- Lululemon;
- PacSun;
- Rebelstork; and
- Steve Madden.
