Livspace eyes expansion in Middle East, starting with Saudi Arabia

Omnichannel home interior platform Livspace is expanding to the Middle East, starting with Saudi Arabia where it has formed a joint venture with the Alsulaiman Group (ASG). The company will invest $25 million (Rs 187.5 crore) in the joint venture with ASG, the operating partner of Swedish furniture retailer Ikea in the region. “ASG gets customer insights and supply-chain solutions to the JV while we bring our product and execution capabilities,” said Livspace Cofounder Ramakant Sharma. It is expecting healthy revenue from the home interiors and renovation segments in Saudi Arabia. “Within the GCC (Gulf Cooperation Council), we intend to expand to another six to seven cities. It is a $15 billion worth of total addressable market that we are chasing,” Sharma said.