The House of Things and Moavi Design gain significant business advantages through this design acquisition.
Moavi Design, a handmade-textile startup with an approximate valuation of $650,000 (Rs 4.9 crore) in FY2020-21 got acquired by The House of Things (THOT) for an undisclosed sum.
The House of Things and Moavi Design gain significant business advantages through this design acquisition, it said in a press statement. With the design acquisition, THOT provides a platform for the product line of Moavi Designs and expand its global footprints.
Commenting on the acquisition announcement, Astha Khetan – Founder of THOT said, “We at THOT believe India is not just a crafts hub, but a forward-thinking design destination and an integrated platform for heritage crafts and niche design from across the world. We are delighted to have taken over Moavi Design product line and look forward to giving it a perfect home and growth.”
Kavita Grewal Badsra – Founder and Creative Director of Moavi Design said, “It is an opportunity for Moavi Design products to live beyond just home textiles, these unique design concepts can adorn furniture pieces, wall arts, metal arts and decorative pieces for home/hotel art projects that THOT team is really good with. We are looking forward to seeing these designs live a life bigger and at scale.”
<!– Published on: Tuesday, May 31, 2022, 12:13 PM IST –>