LOS ANGELES — Vesta, which last year acquired furniture rental companies Fernish and Feather and also sells its furnishings through its interior design and staging business, has just closed on a deal that brings New York-based Anne Kenney Staging into its portfolio.
“We built Vesta around a new distribution channel with home as the point of sale,” said Julian Buckner, co-founder of Vesta and founder and CEO of Showroom, which is the umbrella business under which Fernish and Feather reside.
Kenney started her home staging business in New York about 20 years ago. Adding her business to Vesta brings in a niche segment, explained Bucker. “We had been focused on new builds; her focus is on the resale market.”
In a letter to customers on her website, Kenney wrote that she first encountered Vesta when both companies bid on the same staging job last year. When Vesta got the job, Kenney checked out Vesta, and the two companies soon began talks.
“It was a marriage that made a ton of sense,” said Buckner, noting Kenney can now expand her business using capital and resources from Vesta.
Kenney further explained in her letter that the merger “enables us to provide an even more comprehensive service under one roof,” including staging, interior design, contract work, retail custom furniture or rentals.
“Vesta has luxury furnishings to take us to the next level,” she told Furniture Today. While Kenney’s staging business had its own inventory of furniture and custom art, selling it to customers meant having to continually replenish her supply or work with limited inventory. This is a huge step up for us to accommodate our client in this way.”
Buckner, who said Kenney is “second to no one” in the staging space, noted Kenney will serve as an adviser with input on the kinds of furniture Vesta sources through its manufacturer partnerships.
Additional acquisitions are likely in the offing, said Buckner, among both interior design firms and staging businesses. “A big part of our strategy is looking at the top tier in markets and putting them on our platform,” he said.
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