A Discontented Individual Faces Barriers in Reselling Preowned Furniture, Instead Created self-Established Platform, AptDeco. It Pulls in Over $20 Million in Financial Support.
In an era where consumers are increasingly seeking value and sustainability, the second-hand furniture market is experiencing a significant surge. One company at the forefront of this movement is AptDeco, a peer-to-peer furniture selling site that has raised $20 million in funding from investors such as Morgan Stanley, Liquid 2 Ventures, and Great Oaks Venture Capital.
Founded by Reham Fagiri, a former Goldman Sachs engineering manager, AptDeco was born out of a desire to simplify the process of selling furniture. Fagiri found the experience of using platforms like Facebook Marketplace and Craigslist to be less than ideal, and AptDeco was created to address these shortcomings.
AptDeco allows consumers to buy popular brands such as West Elm, Jonathan Adler, and Pottery Barn for up to 70% off. The platform offers features such as online purchasing, a dispute process, and nationwide shipping via its tech-enabled logistics platform. This makes the process of buying second-hand furniture convenient, secure, and hassle-free.
The second-hand furniture market in the U.S. is a significant and growing subset of the resale market. According to recent estimates, the U.S. resale market, which includes second-hand furniture and other home goods, was approximately $83.75 billion in 2024. This market is projected to grow to about $91.6 billion by 2027, with a 30% year-over-year increase in new buyers in furniture noted in 2024.
This growth is driven by consumer demand for value and sustainability. Many consumers are making more sustainable purchases or saving money by purchasing used, remanufactured, and refurbished furniture. Large furniture brands are also recognising the potential of the resale market to expand their revenue streams and soften the impact of tariffs.
AptDeco has played a significant role in this growing market. The company has diverted close to 20 million pounds of furniture from landfills and has built its most extensive customer base in New York, New Jersey, and Connecticut.
The circular economy, which includes the sale of second-hand merchandise, is surging in the U.S., with the market size estimated at $186 billion as of 2024 and a compound annual growth rate of 17.2% projected from 2025 to 2035. Wooden furniture holds a 39.33% revenue share in the second-hand furniture market in 2023.
AptDeco competes with rivals such as Chairish and Kaiyo in the second-hand furniture market. However, the company stands out due to its tech-enabled logistics platform, which ensures a seamless buying and selling experience for its users.
Furthermore, AptDeco has expanded its offerings to include private-label sites for large furniture brands. This allows these brands to tap into the growing resale market and offer their products at a discounted price.
In conclusion, the second-hand furniture market is a rapidly growing sector, driven by consumer demand for value and sustainability. Companies like AptDeco are playing a significant role in this market, offering convenient and secure platforms for consumers to buy and sell second-hand furniture. As the market continues to grow, we can expect to see more brands exploring the resale market to expand their revenue streams and meet the needs of environmentally-conscious consumers.
[1] Source: Statista [2] Source: Grand View Research Inc.
- The surge in the second-hand furniture market is not just a business trend, but a reflection of consumers prioritizing value and sustainability in their lifestyle choices.
- AptDeco, a green business, has successfully raised $20 million in funding for their sustainable solution to the traditional furniture market.
- As an entrepreneur, Reham Fagiri saw the need for a more streamlined process in selling furniture, leading to the creation of AptDeco.
- The fashion-and-beauty sector isn't the only industry experiencing a shift towards second-hand merchandise; the food-and-drink, home-and-garden, and small-business sectors are also embracing the circular economy.
- AptDeco's tech-enabled logistics platform is revolutionizing the second-hand furniture industry, offering nationwide shipping, dispute resolution, and a convenient online purchasing option.
- Personal-finance management is not the only area where investors are looking for opportunities; some are turning to green businesses like AptDeco for financial growth and wealth-management.
- In the real-estate sector, the rise of the circular economy could signal a shift away from new construction and towards renovation and remodeling using second-hand furniture.
- As consumers become more aware of the environmental impact of their choices, the demand for sustainable-living products, including second-hand furniture, is likely to increase.
- Education-and-self-development programs are starting to incorporate discussions about sustainable living, career-development opportunities, and the benefits of skills-training in the second-hand furniture industry.
- The second-hand furniture market, currently valued at $186 billion, is projected to grow substantially in the coming years due to its potential for industry expansion and alignment with consumer values.
