Luxury marketplace Artemest raises new investment

Artemest, the Milan and New York-based e-commerce platform selling Italian luxury design, home decor and lifestyle, has raised more than 5 million US dollars in its latest equity funding round.

French private equity OLMA Luxury Holdings and the Swiss holding Brahma joined the Milan-based investment firm NUO Capital (sponsored by Hong Kong's PAO family office), in the new round of funding for Artemest, which aims to use the funding to “strategically” grow its platform globally.

The e-commerce platform of high-end interior designs, which features more than 1,000 artisans and luxury brands, brings its total funding to more than 11 million US dollars.

Artemest states that its mission is to support small luxury brands, artisans, designers and artists to gain international visibility and bring their businesses abroad by providing them not only with a curated marketplace but also with “best-in-class services”, such as concierge, logistic support and marketing activities to reach customers in over 70 countries in the world.

The company explained in a statement that it would use the proceeds from the funding to further develop digital tools both for interior designers, architects, and final consumers globally, and for its suppliers to further enhance their online visibility and digital sales strategy.

Artemest looking to drive growth globally following latest equity funding round

Despite the lockdown due to Covid-19 and the subsequent decrease of orders from hospitality groups, both final consumers and trade business lines have registered triple-digit year-over-year growth.

The US, Canada, and UK represent the main markets for Artemest, with APAC countries following North America as the second region for revenue and traffic.

"Artemest is constantly growing to become the leading luxury marketplace for contemporary design and the main point of reference for thousands of worldwide clients looking for handmade artistic pieces," said Artemest chief executive Marco Credendino. "Tech development and assortment growth will allow our clients to easily find solutions to their needs.”

Another area of growth identified by the company is the development of special collection in collaborations with luxury brands and artists. Artemest has had recent success with collections launched with Richard Ginori and fashion brand Luisa Beccaria, which created its first homeware range exclusively for the platform.

Pierre Lainé of OLMA Luxury Holdings, who also becomes a board member of Artemest, added: "OLMA is delighted to join Artemest. With its dynamic management team, this marketplace embodies tomorrow's luxury and embraces the changes currently transforming the sector.”

Tommaso Paoli, chief executive of NUO Capital, said: "We are honoured to continue to support Artemest's management team in this amazing venture and welcome the new investors which can boast strong international footprint and specific know-how.”

OLMA Luxury Holding and NUO Capital led the round alongside Brahma and current shareholders of the company.

Image: courtesy of Artemest