San Francisco-based LUX, a home decor shopping app, has raised $3.5 million in Series A funding. The investors were IDG Capital Partners and FREES Fund.
SAN FRANCISCO – June 9, 2016 – Leading home décor mobile shopping application, LUX, today announced its $3.5M Series A funding raise from IDG Capital Partners and FREES Fund. LUX will direct this funding to grow its team in San Francisco, and further establish the platform as the premier destination for affordable, on-trend home décor. LUX will also expand its innovative merchandising efforts, zeroing in on virtual and augmented reality shopping experiences, with plans to integrate these initiatives in-app this summer.
While nearly 80 percent of Americans have smartphones, when it comes to shopping for home furnishings, half do not make purchases using mobile devices, but rather use smartphones before and during brick-and-mortar transactions. LUX’s aim is to bridge the M-commerce gap by offering traditional early tech adopters, such as millennials, an easy-to-use app that delivers an appealing user interface, intuitive design and unique home décor items. The platform is a sleek one-stop shop for innovative home design through curated trend predictions and expertly created content. The app uses a proprietary selection and pricing method and works directly with suppliers to cut costs and pass savings to customers. Additionally, thirty percent of the items listed on the app are exclusive to LUX, so those who like inimitable finds, can rest assured.
Currently, LUX utilizes thirty-second long videos to drive sales and has seen a significant increase since implementation: upwards of three times the conversions in comparison to listing without video components. Founders Kyle Jiang and Jeff Zhang are no novices to e-commerce and mobile shopping, having previously founded flash sale sites and apps including Peach App and Sellegit, successfully tapping into millennial retail trends.
Since launch July 2015, LUX has more than 250,000 downloads and is the only mobile destination for trendy, affordable interior design and home décor. To download the app, please visit www.getluxapp.com.
Based in San Francisco, LUX is the leading mobile app in home décor and interior design and was featured as a “Best New App” by Apple. Whether searching for ways to incorporate the newest design trends to a dwelling or outfitting the ultimate smart home, LUX’s curated lists help inspire budding home stylists and closeted HGTV enthusiasts alike. With a few taps, users can search for products and ideas that inspire and shop right on the app – no need to switch between apps or type a product number into a search engine. LUX is available for free on the App Store and Google Play. To keep up on the latest news, like LUX on Facebook or follow on Instagram and Pinterest.