Sofa-in-a-box brand agree £10m deal with Sleep Brands Limited

Sofa-in-a-box brand Swyft has announced a £10m deal with Sleep Brands Limited to fund its global expansion. 

The online furniture delivery company has seen huge growth since it launched in December 2019, with a run rate of £24m. The deal sees a significant investment into the business and an opportunity for broader confidence across the category.

Sleep Brands Limited, the company on the other side of the deal, is an SPV owned by Gian Fazio, who is mainly active on the furniture components market in the USA and contract manufacturing in Europe, both in bedding and upholstery. The group of companies owned by Gian Fazio’s family employs over 2,000 staff.

In February 2023, Gian acquired Dormeo UK, which has been present as a mattress brand in the UK for over 10 years and is headquartered in High Wycombe. The company, which was purchased as part of a distress sale, is heading for revenues of £30m.

The investment will be used to launch into International markets, with an aim of Germany by the end of 2024, followed by at least two additional European territories in early 2025. 

Swyft founder and CEO, Keiran Hewkin says: “This new partnership gives Swyft the ability to leverage a global network of suppliers and customers. With Gian’s experience supplying  brands around the world and Swyft’s successful concept and industry-leading next day delivery we have a great base to build upon.”  

Gian Fazio comments: “Keiran has built a brand which very successfully combines convenience with a modern, urban design. His background in upholstery and as an entrepreneur has allowed him to develop a team with a unique set of skills – unmatched, in my opinion, in this industry. The transaction was as much about the brand as the team.”

Save this article for later

You can revisit this article if you save it as favourite news!

Leave a Comment