(L-R) Joshua Chan, Kiren Tanna, Lye Yi Hao, and Tan Jun Kiat
Singapore-based e-commerce aggregator Una Brands today announced the acquisition of homegrown ergonomic furniture brands ErgoTune and EverDesk+ in a deal worth over eight-figure USD.
Una Brands will expand them into new regional and international markets. The brands have already been launched in Australia, where they contributed to 15+ per cent of overall revenue in Q4 2021 alone.
Further, Una Brands’ growth strategy will see the brands launch onto additional e-commerce platforms in the coming months, including Amazon in H1 2022, and further their O2O offering with a showroom in Sydney from April where customers can experience both ErgoTune and EverDesk+ products.
Also Read: Ex-CEO of Rocket Internet Asia launches new e-commerce venture Una Brands with a US$40M seed round
EverDesk+ and ErgoTune were founded in 2017 by former schoolmates Joshua Chan, Lye Yi Hao and Tan Jun Kiat shortly after they graduated.
The brands provide “affordable and high-quality” ergonomic furniture. They grew 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.
Their flagship products include the ErgoTune Classic and the ErgoTune Supreme Chair. They sold nearly 20,000 units in 2021 alone, grew 150 per cent, and tripled their revenue to over SGD13 (US$10) million.
Lye Yi Hao, Co-Founder of ErgoTune and EverDesk+, said: “With Una Brands’s financial backing and operational expertise, we are poised to grow our brands in various regional marketplaces and enter new markets at an accelerated timeline.”
Kiren Tanna, Co-Founder and CEO of Una Brands, said: “We aspire to grow ErgoTune and EverDesk+ into the region’s best-selling ergonomic chairs and desks in the next three years.”
Una Brands was established in 2020 by Tanna, the former CEO of Rocket Internet Asia and founder of foodpanda and ZEN Rooms. Its other co-founders are Adrian Johnston, Kushal Patel, Tobias Heusch, and Srinivasan Shridharan.
Una Brands acquires brands selling across multiple e-commerce channels such as Shopify, Shopee, Lazada, Tokopedia, Amazon. It mainly primarily focuses on profitable independent brands with revenue between US$1 million and US$50 million.
So far, Una Brands has acquired over 15 brands. These brands, which generate between U$1 million to US$15 million revenues, operate in categories of home & living, baby & pets, and personal care. They are based in Singapore, Australia, China, and Taiwan.
Also Read: Una Brands nets US$15M Series A to acquire new e-commerce brands in Asia
Una Brands has worked with some of the biggest companies in the world, with its offices spanning the Asia-Pacific region with a presence in Singapore, Australia, India, China, Indonesia, Malaysia, Taiwan, Korea, and Japan.
Since its launch in early 2021, Una Brands has raised US$55 million, including a US$15 million Series A financing round led by White Star Capital and Alpha JWC in November 2021. Its other investors are 500 Startups, 468 Capital, Claret Capital Partners, and Ninja Van co-founder Alvin Teo.
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