The Home Depot Inc., No. 46 in the Internet Retailer 2013 Top 500 Guide, has bought Blinds.com for an undisclosed fee.
Who is Blinds.com:
- Blinds.com has been building up its niche windows treatment business since 1996 and carries online inventory of nearly 400 SKUs
- CEO, Jay Steinfeld (@BlindscomCEO)
- Largest online window coverings retailer, they sell twice as many blinds as their closest competitor
- Grew its web sales by 23% to $90 million in 2012
- 61% of our business comes from repeat or referred customers
- They offer a video chat service where shoppers can schedule free appointments with window designers to get advice tailored for their windows their house’s overall design
The Scoop on the Deal:
- The acquisition of Blinds.com gives ATL based Home Depot more access to the online niche market of build-it-yourself window treatments.
- “The acquisition of Blinds.com positions us well for expansion in the quickly growing online window coverings market….in addition, their unique sales and service model is one we hope to learn from as we continue to create even better interconnected retail experiences for our customers.” — Home Depot Chairman and CEO Frank Blake
- “We will continue to build the Blinds.com brand and culture in our own unique way, and we believe The Home Depot is the best partner to help us do this over the long term” — Jay Steinfeld, founder and CEO of Blinds.com
- Other recent acquisitions include Home Depot’s 2012 purchases of kitchen and storage supplier U.S. Home Systems Inc. and home services specialist Redbeacon.
- Home Depot intends to keep Blinds.com’s management team and staff intact at its headquarters in Houston.
Read More From:
- The Atlanta Business Chronicle
- The Atlanta Journal Constitution
- Blinds.com
- Internet Retailer
- The Wall Street Journal
- Yahoo Finance
- Market Watch
[Photo Credit: http://dailyreporter.com]
