30th June 2021
30th March 2021
20th March 2020
13th March 2020
17th November 2020
1st January 2020
20th November 2017
16th May 2017
16th February 2021
9th September 2020
3rd September 2020
22nd July 2020
12th October 2021
7th July 2021
31st March 2021
17th February 2021
22nd September 2021
30th August 2021
7th August 2021
1st July 2021
4th August 2021
25th April 2021
12th February 2021
31st May 2020
1st June 2021
9th August 2020
26th March 2019
2nd June 2018
19th June 2020
13th December 2019
20th November 2020
20th February 2020
17th August 2014
18th July 2019
17th September 2021
15th September 2021
28th January 2021
10th January 2021
16th April 2021
15th November 2014
8th March 2020
7th August 2018
27th December 2016
4th May 2014
29th September 2020
24th September 2020
26th July 2020
12th June 2020
15th October 2018
26th June 2018
13th June 2017
4th January 2016
Furlenco runs some of the country’s largest refurbishment centers. These renewal and restoring procedures allow them to put a product back to its original condition or in many cases even modernize them. With remanufacturing processes on board, Furlenco reduces materials and energy consumption, compared to the original production. And believe it or not, this actually increases their margins.
Nearly 8 years ago, Ajith Karimpana realised something that changed his life: The Karimpana family was moving back to India. Having given all their furniture away, they were left with the task of trying to set up a home from scratch. Not an easy task. Furnishing a home has always been arduous. Furniture is hard to find, expensive and, in India especially, has to be custom-made most of the time.
Ajith could not stop thinking about it. And finally decided to do something about it. Despite having zero experience in the furniture business, he quit his job and founded a furniture company dedicated to making it easy to transform a house into a home. He called it Furlenco.
Since then, Furlelco has gone on to achieve great success building India’s largest furniture subscription business. More importantly, they have become the furniture subscription company.
And now, Furlenco has announced one of the largest debt raises in the startup ecosystem along with an equity raise which we participated in once again. This is the 6th time in 6 years we have invested in Furlenco. We invested for the first time in 2015, and I explained our rationale at the time here: https://lightbox.vc/new-thinking/don-t-buy-it-furlenco-it
But, let me explain why we continue to invest in the company. In one word, it’s circularity.
Furlenco is leading the charge for a circular future. The company is the very definition of how an organization can create value for its shareholders while minimizing ecological impact and social costs. Over $60 MM annualized worth of assets were refurnished and $72 MM of those were shipped to new customers in July 2021. This number is growing 40-45% MoM. Add to this the fact that every time a customer rents from Furlenco, our planet saves 4 trees. In August 2021 alone, we will be furnishing 7400 new homes, that’s about 30,000 trees in a month.
Most companies follow a linear business model. Which basically means: take natural resources, make products for consumers, and allow those products to eventually become waste.
Furlenco, on the other hand, creates products that can be upcycled, repurposed, and reused over and over again for eternity. Their circular strategy aims at rethinking everything around them, from their business model, to their products, and eventually to mindsets (both internally and for their customers).
For example, take design. Everything starts with design. The key principle of circular design is reducing pollution and putting waste to good use. In order to do that, each product needs to be used longer. Furlenco builds long lasting and easy to repair products.
Another great example is refurbishment. Furlenco runs some of the country’s largest refurbishment centers. These renewal and restoring procedures allow them to put a product back to its original condition or in many cases even modernize them. With remanufacturing processes on board, Furlenco reduces materials and energy consumption, compared to the original production. And believe it or not, this actually increases their margins.
And finally, recycling. Everything in Furlenco’s operation doesn't get refurbished, and when it doesn’t, they make tremendous effort to reuse it. All their packaging material has been designed for this very purpose - reuse and reapply. By spending a little more money on packaging, materials like papers, plastics, and rubber are given eternal life, allowing savings on energy and even money in the long term, but, most importantly, reducing exposure to the environment.
Furlenco isn’t perfect. But their desire to achieve a perfect circular economy makes us proud to be a small part of their incredible journey .
The commoditization of hardware is forcing a range of product-oriented businesses to revamp their business model to remain relevant. instead of selling the product, companies are offering the benefit to customers in other ways.
As tech flattens the world, brands have the ability to directly connect with consumers. Born on the internet and made big by digitally native millennials, these brands challenge big industry business models across the world.
As Apple launches its store online, Ikea opens one of its most ambitious projects in Hyderabad and Muji brings its functional minimalism to India what we’re witnessing is three of the world’s hottest brands pit creativity against the challenges India presents.
Your Product Is Your Business Model. Changes in one impact the other and in the best cases they play off each other.
Sid talks on growing businesses together and venturing into the unknown with various subscription models
We spend a lot of time thinking about the changing nature of ownership. It’s amazing how much “stuff” most of us collect over time. And how little we actually use in everyday life. It makes you start questioning consuming and purchasing habits in general.
In this investment we are doing our small part in affecting the consumption patterns of our society. Harvard University sociobiologist Edward O. Wilson claims the earth can support 10 billion people – a number others predict may be hit by 2100.
Melorra is the jewellery brand that's making designer-ware affordable. This is the new thinking in affordable luxury globally.
Flinto is an early learning brand that uses psychologists-backed insights to design products for critical thinking, problem-solving, collaboration and teamwork. In other words, crucial 21st century life skills.
How consumers are wooed is going to change in 2017. And a few spaces will have a advantage.
You will receive the next newsletter in your inbox.
The monthly Gazette is your source of happenings within Lightbox - updates, blogs, deep dives, opinion pieces and all things consumer tech
Join the thousands who hear from us