Kabuni hits breakthrough 1000 mark
Interior design platform Kabuni (ASX:KBU) has hit an important milestone – with 1000 interior designers now registered and the sales starting to flow for the company.
In a note to its shareholders this morning it said that more than 1000 interior designers and decorators had now registered as members of the platform – and this translated into more than 1800 ‘inspiration boards’.
It said 100 designers joined in the last 20 days, with the previous 100 joining in a 25 day period — suggesting uptake is accelerating despite what the company admits is a limited marketing campaign to this point in time.
These boards are a selection of a designer’s particular aesthetic or style, with the boards featuring selections from the 15,000 items KBU currently has available for sale.
At the start of April it has added e-commerce functionality to the boards, allowing people to buy the items featured on the boards as well as contact the interior designers for their services.
KBU said in the month of April it had booked 40 sales with an average price of $C240 ($A255.90) – metrics KBU said were above its internal expectations for the start-up.
The first month of sales are not only a big deal for KBU as it translates into cash but it also demonstrates that the e-commerce functionality of the boards is working.
In other news, it confirmed that its first Community Design Studio will open in Vancouver on June 9 – providing a real-world space for interior designers to meet with clients.
Earlier this month it launched a web platform – meaning that the platform would be available through a standard browser, effectively allowing almost all mobile users to access the platform.
About Kabuni (ASX:KBU)
Kabuni has been developing a platform to match those looking for interior design services to interior designers and local artisans – an overall market KBU says reaches $68 billion in North America alone.
Designers create ‘inspiration boards’ where they can showcase what influences them in terms of visual style and past work.
From there, clients are able look at these boards and see which designer and which pieces they want in their homes.
Clients are also able to post to their own boards, taking photos of objects and things which inspire them to give designers an insight into their requirements.
From there, designers and clients are able to come together and take things from inspiration phase into the real world.
As part of the business model, 2% of Kabuni’s revenue goes to a mixture of charities – all trying to alleviate homelessness.