This startup simplifies thrifting furniture for both individuals and large retailers like Pottery Barn.
- An online marketplace for buying and selling used furniture that provides pick-up and delivery for items, AptDeco is based in New York.
- The growing concern of furniture waste arises as consumers and companies strive to minimize carbon emissions in the U.S., where approximately 12 million tons of furniture are discarded annually, as stated by the Environmental Protection Agency.
The growing concern of furniture waste is driven by consumers and companies' efforts to minimize carbon emissions. In the U.S., we discard approximately 12 million tons of furniture annually, as per the Environmental Protection Agency. The majority of this furniture is less than fifteen years old. Recycling furniture is challenging due to the difficulties associated with selling and relocating it.
Online thrifting for apparel is flourishing with companies like Poshmark, Dpop, and Thredup, but furniture thrifting is more complex due to the size of the items. While Craigslist and Facebook Marketplace list furniture, consumers must determine how to pick up and deliver the items, which can be expensive and potentially hazardous as strangers enter their homes.
An online marketplace for buying and selling used furniture that provides pick-up and delivery for items is being offered by AptDeco, a New York-based startup. Additionally, the company collaborates with major retailers, such as West Elm and Pottery Barn, to sell floor models or resell items that have been returned.
AptDeco's founder and CEO, Reham Fagiri, stated that extending the lifecycle of furniture is better for the environment, as it reduces the amount of wood needed from forests and improves the supply chain associated with producing that furniture.
Big furniture retailers face significant waste and logistical challenges with returns, including high costs and transportation emissions. To address this issue, partner brands are now selling their returned items on AptDeco as soon as a customer requests a return, directly from the customer's home. AptDeco uses its own resale data to price items to sell quickly, often within a week. They can then retrieve the item from the returner's home and deliver it directly to a resale buyer, bypassing the need to take these returned items to a distribution center first.
AptDeco was purchased by Kathleen O'Brien for her dining room table, TV console, and headboard.
O'Brien stated that the world is literally on fire and he is trying to reduce his own footprint in every aspect of his life, including furniture.
Although the furniture is sold at a 50% discount to new customers, the service is not free.
Fagiri stated that the percentage earned can range from 15% to as high as 60%, depending on various factors such as product, brand, condition, and numerous variations.
The company's carrier network across numerous markets makes its expansion potential very attractive to investors like Initialized Capital, except in Alaska and Hawaii where it does not operate.
Initialized Capital partner Zoe Perret highlights the logistics business of climate adaptation companies as a model for longevity in the next phase of climate tech.
AptDeco has received $14.5 million in funding from Comcast Ventures, Y Combinator, Hearst Lab, Great Oaks Venture Capital, and Soma Capital.
Since its launch 10 years ago, Fagiri claims to have neutralized over 19 million pounds of carbon dioxide from the environment, which is equivalent to approximately 6.5 million cars removed from the road.
CNBC producer Lisa Rizzolo contributed to this piece.
Technology
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