E-commerce-focused consumer goods company Una Brands has acquired homegrown Singaporean brands, ErgoTune and EverDesk+, to expand into new regional and international markets.
The value of the deal has not yet been disclosed but was said to be worth more than eight figures. It also marks one of the largest acquisitions of Singapore-based direct-to-consumer brands.
EverDesk+ and ErgoTune were founded in 2017 by former schoolmates, Joshua Chan, Lye Yi Hao and Tan Jun Kiat, as they saw the shortage in affordable and high-quality ergonomic furniture on the market.
“With Una Brands’ financial backing and operational expertise, we are poised to grow our brands in various regional marketplaces and enter new markets at an accelerated timeline,” said Lye Yi Hao, co-founders of ErgoTune and EverDesk+.
“Most importantly, Una Brands will accelerate our mission of helping people create a workspace where they feel great and can achieve great things.”
Since the pandemic, the brands have gained substantial popularity as work-from-home requirements cause customers to invest in furniture for their home office. Record sales helped the business to realise 150-per-cent growth last year, tripling the business’ revenue to more than SGD 13 million (US$9.6 million).
Under Una Brands’ growth strategy, the two ergonomic furniture brands will launch onto additional e-commerce platforms in the coming months, including Amazon in the first half of this year. The company will also increase its online-to-offline offering with a showroom in Sydney next April where customers can experience ErgoTune and EverDesk+ products.
“We aspire to grow ErgoTune and EverDesk+ into the region’s best-selling ergonomic chairs and desks in the next three years,” said Kiren Tanna, co-founder & CEO of Una Brands.