Olivia’s acquires Houseology
Olivia’s has stepped in to save online luxury furniture and homewares retailer Houseology following its collapse into administration.
Part of The Moot Group, Olivia’s has acquired all IP and assets, including Houseology’s suppliers and stock, for an undisclosed sum.
Houseology will continue to be a standalone brand while under The Moot Group umbrella. Prior to its administration, the company had raised over £6 million in investment since it was founded in 2010. Once generating annual revenues of around £10 million, Houseology slowly declined throughout 2019 and had poor sales in the fourth quarter of of the year. Olivia’s said the company suffered due to poor marketing and problems with its logistics processes.
Established in 2018, The Moot Group is led by founder Nick Moutter and is on target to deliver £20 million in revenue for 2020.
Moutter said: “I’m excited to expand The Moot Group’s current luxury home offering and breathe new life into a brand that has served so many loyal customers over the last 10 years. We’re working hard to ensure a smooth transition for Houseology customers and suppliers and deliver our mission of being the place online to get fashion for your home.”
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